Apple (AAPL - Get Report) shares dipped lower in morning trading, off 0.30% to $531.67 as a noted Apple analyst cut his price target on the stock, citing growth concerns. Peter Misek of Jefferies has cut his price target on the Cupertino, Calif.-based firm, pointing to worries that Apple's growth will slow, as well as potential negative margin leverage. Misek lowered his price target to $800 from $900. Misek wrote in his research note he believes Apple's growth will start to slow down in 2014, as the markets become saturated with its products. He believes Apple will launch the iPhone 5S in June or July, compared to the September and October launches for the iPhone 5, and iPhone 4S, respectively.
Priceline.com (PCLN - Get Report) shares fell 4.18% to $631.54 on heavy volume, as Deutsche Bank downgraded the stock to "hold." Analyst Ross Sandler downgraded the stock on fears of competition in Priceline's core European market, as a "cold war" may heat up. Sandler cited Expedia (EXPE) getting more aggressive acquiring customers, the concerns on the shift to mobile search, and Google (GOOG) eventually going "..deeper into travel vertical search once its regulatory issues are resolved." Traders have been taking profits on names ahead of the fiscal cliff on stocks that have done well in 2012, amidst worries that tax rates will go higher in 2013. Priceline, the online travel company, has enjoyed a strong run year-to-date, gaining 35.69%. Interested in more on Priceline? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York. >Contact by Email. Follow @Commodity_Bull