A German investment firm has predicted Apple Inc’s downfall as it sets a stock price target of $60 per share. Berenberg Bank believes the financial model of the Cupertino-based company relies too much on the iPhone. Berenberg has forecasted a more than 50 percent decline of Apple shares. According to Apple Insider, the German firm’s price target is so “extreme” that it doesn’t appear to be plausible prediction but more of a statement. In a note to investors, Berenberg issued the extremely bearish forecast on Apple stock. Even a few investment firms who remain bearish on Apple have maintained price...
