Apple Could Slide Towards $420, Creative Global Says

Shares of

are down 0.9 percent to $526.80 ahead of first quarter earnings due to be released after the close. Creative Global believes the shares will remain under increasing pressure, and in the medium term may move towards $420. As innovation slows and competition increases, shares could slide, analyst Carlo Besenius said. Besenius also believes the technical setup is negative. The analyst has a Sell rating on the stock.