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Jefferies (JEF) cut its price target on Apple (AAPL) to $ 800 from $ 900 on Monday,  citing the likelihood that the Silicon Valley tech giant’s growth slows in fiscal 2014. The analysts, however, maintained their “buy” rating on the Cupertino, Calif.-based iPhone maker and kept their fourth- and first-quarter EPS and revenue estimates unchanged. The brokerage blamed its outlook on Apple’s early 2014 iPhone build plans, which it says indicate a deceleration of growth in an already well-saturated smartphone market. Apple trimmed its current-quarter iPhone build plans to 60 million from an earlier 60 million to 65 million range [...]

NEW YORK Analysts at Jefferies and Co. cut their price target on Apple Inc. shares to $ 800 from $ 900 based on their expectation for slowing growth at the iPhone maker. Jefferies maintained its earnings estimates for the company’s calendar fourth and first quarters. The report added that, “We shift our iPhone 5S launch timing from calendar fourth quarter to calendar third quarter, (boosting FY13 EPS) but trim iPad units. In Fiscal year 2014 we see decelerating growth and, barring opex cuts, we think fiscal 2014 could see negative margin leverage, which likely leads to multiple [...]

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