NEW YORK (TheStreet) --Apple Inc. (AAPL) - Get Report was downgraded to "hold" from "buy" at Societe Generale on Wednesday morning.

The firm said it lowered its rating on the iPhone maker as it believes Apple is dealing with difficult comps and currency issues.

Societe Generale maintained its $130 price target on Apple stock.

"We expect most media covering Apple over the next couple of weeks to focus on the Apple Watch. Our forecasts for the Apple Watch (8 million units, ASP of $500) imply that sales will amount to $4 billion in full year 2015, or 1.7% of our forecast for total Apple sales for full year 2015," Societe Generale said in an analyst note.

"By contrast, we forecast that handset sales will represent 63% of sales in full year 2015, an increase of $46 billion over full year 2014. Hence our view that investors' focus should remain firmly on handsets, at least for now," the firm continued.

Shares of Apple are lower by 0.40% to $125.50 at the start of trading on Wednesday morning.

Insight from TheStreet Research Team:

Brian Sozzi commented on Apple in a recent post on Here is what Sozzi had to say:

The time has arrived for what is likely to be one of the most ridiculous, yet thrilling to watch, coverage spectacles in recent memory -- the testing of the Apple Watch. Preorders of the Apple Watch are scheduled to start Friday.

Why is this Friday going to be absurd? One, because it's Apple, and its products attract fanatics who intend to use them and others just trying to buy and sell the devices abroad at quintuple the markup. But secondarily, the visuals on the screen will be analyzed by Apple investors for reads into interest for a product that is technically non-essential, yet has lofty sales targets by Wall Street. Yes, you read that correctly -- well-trained investors will be watching television and assessing whether to stay long Apple shares, which have risen a cool 15% year to date.

The thinking goes like this: Strong crowds testing out the Apple Watch signal hearty initial pre-orders, and a press release led by CEO Tim Cook next Monday on how strong pre-orders were over the weekend. Should investors get that information, it would confirm preliminarily that healthy sales estimates for the device are not only justified, but perhaps too tame.

-Brian Sozzi 'Apple Watch Hoo-Ha: This is Only a Test' Originally Published on April 8, 2015 on

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Separately, TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate APPLE INC (AAPL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

You can view the full analysis from the report here: AAPL Ratings Report