[Reuters] Apple results spur price target cuts, shares fall 9 percent

Posted by: UGN Security

[Reuters] Apple results spur price target cuts, shares fall 9 percent - 01/24/13 01:02 PM

(Reuters) - Weaker-than-expected holiday sales of Apple Inc's iPhone reinforced fears that it is losing its dominance in smartphones, driving its shares down 9 percent in premarket trading and drawing another round of stock price target cuts.