MorningWord 12/17/12: Dueling Headlines in $AAPL

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MorningWord 12/17/12:   U.S. equity markets on Friday were once again dominated by AAPL’s plunge from its all time high made in Sept, with the stock making a new 10 month closing low.  Even though AAPL confounded alot of investors and pundits during its 2012 parabolic move from $400 to $700 in the first nine months of 2012, the move from $700 back down is probably going feel a lot worse.  In the last week we have seen a handful of analysts lower their 12 month price targets (some below $600), lower their 2013 earnings estimates (as a result of rumored iPhone5 order cutbacks in Asia) and now just this morning a DOWNGRADE from a bulge-bracket bank (Citi downgrades to Hold and $575 target).  

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