Apple AAPL Downgraded 12/15/08 Goldman Sachs

Apple Computer ( AAPL ) has been downgraded today, December 15, 2008, by Goldman Sachs to Neutral from Buy. Weak consumer spending in the short term, and risk of the stock's valuation premium coming down if iPhone sales fall short of expectations in the first half of 2009. Goldman Sachs also removed Apple from Americas Buy List.

"Shipments of MacBooks, iPod nanos, and iPhone were all slightly lower than what was expected going into the (December) quarter," analyst David Bailey wrote in a note to its clients.


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