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Some of Apple’s biggest fans are growing increasingly bearish, thanks to weak iPhone sales over the holidays and the threat of Google and Samsung products, says Bloomberg.
In fact, five analysts, including Citigroup, Pacific Crest Securities, Mizuho Securities USA, BMO Capital Markets and Canaccord Genuity, have cut their price targets for Apple since December 16.
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Some say the company’s purchases from suppliers indicate iPhone and iPad (Apple’s two products with the largest sources of revenue) sales may not meet projections.