Pros on CNBC discussed Apple after the company was hit with a rare analyst downgrade.
Market Movers rounded up the best reactions from investors and analysts as Apple shares traded flat despite a downgrade to hold from buy at Loop Capital.
The pros, including Jim Cramer , discussed the firm's prediction that the megacap tech company will miss its revenue forecast this quarter due to a 10% cut in iPhone builds and shipments. Apple beat revenue expectations last quarter but had said revenue this period will fall by about 3% from the prior year. The stock finished the trading day half a percent lower. Apple is currently held in Cramer's Charitable Trust portfolio.
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