This Analyst Just Downgraded Apple Stock. Here's Why.

Apple (AAPL) stock closed significantly lower on July 31 after management’s disappointing future guidance made GF Securities downgrade the iPhone maker to “Hold.” The multinational cited “supply constraints” as it guided for about 10% sales growth in its current financial quarter, missing the LSEG consensus set at 12%.

Despite the post-earnings decline, however, Apple shares remain up more than 25% versus their year-to-date low.