Reuters is reporting that investment firm ABN AMRO has lowered Appleis target price from US$25 to US$20. Appleis stock has been dropping with the rest of the market since the terrorist attacks earlier this month, and is currently trading at a 9-month low. From the Reuteris report:
ABN AMRO said on Wednesday that it had lowered its price target on Apple Computer Inc. to $20 from $25, one day after the computer maker said it was ready to launch the new version of its OS X operating system this weekend.
ABN provided no further details on the price target cut.
As of this writing, Apple is trading at 15.07, off by 0.47 (-3.02%). The stock is trading in strong volume with more than 6.2 million shares having traded hands. The dayis range has been 14.93 - 15.89. AAPL last saw trading levels this low between January 2nd and January 3rd of this year.