AAPL closed lower Tuesday, ending the day at $338.89, down $2.30 (-0.67%), on strong volume of 17.2 million shares trading hands.
JMP Securities downgraded its outlook on AAPL stock on Wednesday, with the change prompted by a deceleration in manufacturing at Foxconn. Analyst Alex Gauna said the change from "Market Outperform" to "Market Perform" is not a result of concerns with Apple itself, but rather the ability of Foxconn to produce Apple products.
A brief recap of this week in Apple:
1. Potential Apple Battery Delays
2. iPhone 5 May Not Launch Until Fall
3. Apple WWDC Scheduled for June 6
4. Amazon Launches Cloud Drive
5. Apple Accepting Higher Costs to Secure iPad Components