By: CNBC.com News
January 24, 2013 at 08:01 AM EST
UPDATE 1-Apple results spur price target cuts, shares fall 9 pct
Jan 24- Weaker-than-expected holiday sales of Apple Inc's iPhone reinforced fears that it is losing its dominance in smartphones, driving its shares down 9 percent in premarket trading and drawing another round of stock price target cuts. Jefferies& Co cut its rating on Apple's stock to "hold" from "buy" and slashed its share price target by $300 to $500.
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