Analyst Downgrades Apple Shares as Smartwatch Goes on Sale

April 10, 2015 5:02 PM

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As consumers trekked to Apple stores to try on the company's smartwatch for the first time, a Raymond James analyst downgraded shares of the tech giant, saying its first product launch under CEO Tim Cook poses "more risk than reward."

Analyst Tavis McCourt downgraded the shares to "Market Perform" from "Outperform," saying fiscal 2016 is shaping up to be difficult year for the company compared to this year. While sales of the Apple Watch won't be a big part of the company's earnings for some time, McCourt said reviews have not be...

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