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Smith Barney cuts Apple rating

Murlyn

Murlyn


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Smith Barney cuts Apple rating
September 15, 2003 - 15:20 EDT Smith Barney analyst Rich Gardner has lowered his rating on Apple stock to the firm's lowest rating ("sell") from the its middle rating ("in-line"). "Gardner noted that the new system eliminates industry ratings and reflect risk-adjusted total expected return, and therefore the ratings no longer reflect expectations of performance relative to a company's peers," reports CBS Marketwatch.
 

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