Apple’s shares (NASDAQ:AAPL) today on the NASDAQ index are continuing to lose significant value as downward pressure is put on the stock following massive investor selloff of the stock, after analysts downgraded the stock for the first time since October 2010.
Alex Guana, a JMP Securities analyst covering Apple today downgraded his rating on the tech giant to “market perform”, from “outperform”, citing an increase in earnings volatility as Apple’s Chinese manufacturer partner, Foxconn, faces stagnant sales growth.