This weekend analysts at Channel Trend downgraded Apple from Neutral to Unfavorable.

According to the Channel Trend report, reprinted by Fortune, Apple's Current Price vs Projected Price is Unfavourable because: "Apple is currently trading 15.9% above is projected price of $307.84, which makes it less attractive than 86.8% of all covered stocks on this measure and 84.2% of stocks in its peer group."

Apple's Position in Price Channel is also Unfavourable because: "The current channel percentile for Apple is 38.2%, which is less attractive than 88.4% of all covered stocks..."

Channel Trend ranks Apple as Neutral in Expected Trent Price Change and Current Price Vs Fair Value.

Channel Trend bases its recommendations on assessment of key valuation and price behaviour measures and states: "Underperformance Expected".