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Apple Stalls, but Shorting Is Risky

Posted on June 19, 2008

Apple (AAPL) took it on the chin early in the session Wednesday, dragged down by the continued fallout from the sub-prime lending crisis. It s ironic that the very company that raised guidance on Apple, was also one of the catalyst for the market s decline, posting a 2nd-quarter profit drop of 61 percent. On the flip side, Morgan Stanley s (MS) Kathryn Huberty reiterated her overweight rating on AAPL and raised her price target to $210 from $185. But the upgrade had no affect on AAPL, as it declined in whipsaw fashion to end the session down 1.48%, and like many other stocks, it dropp...

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