Apple price target lowered to $250 from $325 at Wedbush

Wedbush lowered the firm’s price target on Apple (AAPL) to $250 from $325 and keeps an Outperform rating on the shares. The “tariff economic Armageddon unleashed by Trump is a complete disaster for Apple given its massive China production exposure,” the analyst tells investors in a research note. The firm says the current tariff slate with China at 54% and Taiwan at 32% “would be devastating to Apple, its cost structure, and ultimately consumer demand.” Wedbush, however, maintains a longer term positive view on Apple shares citing the company’s strong free cash flow and the growth of its Services business.