Wall Street analyst sees Apple battling Huawei, Xiaomi and Samsung in China:
Earlier today, Jefferies analyst Sundeep Bajikar cut his target on Apple's shares to $130 from $135. His move coincided with a tough day of trading for the tech titan as Apple dropped $6.23 (5.2%) to $113.49. In cutting his target on Apple, Bajikar said that he was concerned with "macro demand uncertainty for iPhone primarily in China."
While the Jefferies analyst sees strong demand for the iPhone in Hong Kong, Shanghai, Seoul and Tokyo, he notes that China's stock market has been falling and taking consumer's financial health with it. Bajikar says that Apple has responded by cutting back ...
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