"We downgrade AAPL to Underweight ($250PT; 19x '27 EV/EBITDA, 27.5x PE)."

"We downgrade AAPL to Underweight ($250PT; 19x '27 EV/EBITDA, 27.5x PE)."

A Wall Street analyst downgraded Apple stock to the equivalent of a sell rating on expectations of slowing iPhone sales and device upgrades.

Apple (AAPL) stock was down 0.8% on Tuesday after KeyBanc downgraded its rating on the iPhone maker to Sell from Hold, with a price target of $2...