Citigroup downgraded Garmin to sell on worries the GPS device maker faces increasing competition from fitness watches, though the investment bank calls Apple (AAPL) “a very modest threat this year.” Garmin (GRMN) stock was flat in midday trading in the stock market today, near 46.50. Citigroup analyst Jeremy David reduced his price point on Garmin stock to 42 from 68. “While we continue to see upside to Garmin’s Fitness revenue in 2015, we believe
Brean Capital Markets raised estimates and price targets on two top-rated chipmakers Thursday, saying that industry concerns are offset by a good-looking Q1 from Apple (AAPL). Analyst Mike Burton lifted his price target on Qorvo (QRVO) to 95 from 85 and on Skyworks Solutions (SWKS) to 110 from 92 after talking with a number of companies across the supply chain. “We’re raising our March Q estimates slightly as we believe Apple iPhone sales are
Apple (AAPL) faces European scrutiny over its planned Beats Music streaming service, according to multiple reports. Meanwhile, European regulators are said to be poised to file antitrust charges vs. search giant Google (GOOGL). Apple plans to relaunch Beats Music, acquired as part of its $3 billion Beats Electronics buy last year, this summer. It will be a paid subscription service. Apple had hoped to undercut Spotify’s $9.99 monthly rate, but