Wall Street analysts have the lowest percentage of buy ratings on Apple's stock in 15 years. Here's what that could mean for the stock's trajectory.
div > div.group > p:first-child"> According to FactSet, analysts have the lowest percentage of buy ratings on Apple's stock in nearly 15 years, signaling a bearish shift on the company's prospects not seen since the year it released the first-ever iPod Nano.
"I think it's basically a repricing of the stock away from a sexy tech stock to, essentially, a stodgy, dodgy, blue-chip-with-a-dividend stock, simply because the growth story in Apple has really petered out," Boris Schlossberg, managing director of FX strategy at BK Asset Management, said Friday on CNBC's "Trading Nation."
Schlossberg pointed out that roughly 40 percent of Apple's services revenue comes from one source, Google search, and that Apple's history might be capping its potential. Piper Jaffray analyst Craig Johnson had more faith in the iPhone maker's stock, flagging some bullish trends bubbling up in its long-term chart.
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