(Bloomberg) -- Apple Inc., which surged yesterday after second-quarter profit beat analysts' estimates, was downgraded at Citigroup Investment Research, which said the stock was expensive after rallying 18 percent since the start of 2007.
``While we continue to like Apple's long-term growth opportunity, we see little more than market returns in the shares from current levels,'' wrote analyst Richard Gardner, the top- rated analyst on Apple, according to data from StarMine Inc.
Read more at Bloomberg Stocks News
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