Apple’s price target lowered ahead of Q1 earnings

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With Apple set to announce its Q1 earnings next week, analyst Tom Forte of DA Davidson has reduced his price target for the tech giant from $260 to $245 in the fear that the sentiment from Apple’s suppliers will lead to fewer iPhone sales. Beyond the December quarter, Forte is still keeping a Buy rating on the company due to the potentially high volume of sales of newer products such as the Apple Watch and the HomePod.