Perhaps this had to happen: over the transom this afternoon floated a brief item from Deutsche Bank’s Chris Whitmore, who removed Apple (AAPL) shares from the “Short-term trading Buy” list because of “the strong performance of the shares,” while saying that “we remain optimistic on Apple’s medium and long-term prospects” and maintaining a formal Buy recommendation on the stock.
Whitmore believes “AAPL’s rate of outperformance could slow after its recent move,” but he nevertheless maintains his regular Buy rating on the shares.
Apple shares this afternoon closed down $4.02, or 0.7% at $585.56. The stock declined another 13 cents in late trading.
Apple shares are up up 45% this year, including a 30% gain in the last month, and are up 8% this week since last Friday’s close, beating the Nasdaq Composite Index’s 2% gain in the last week,
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