According to Fortune -- It could have been worse for Apple. In a flurry of notes issued Tuesday, Goldman Sachs' Bill Shope lowered his forecast for the entire PC industry and downgraded Hewlett-Packard from Neutral to Sell.
Apple got a mixed review. Although Shope removed the company from Goldman's coveted "conviction list" and lowered his price target to $575 from $660, he still rates the stock a Buy, describing the company's current valuation as "remarkably depressed."
"Even with the investor concerns that have mounted as of late," he writes, "we believe most agree that the company has brighter secular prospects than typical value tech names" such as Intel, Microsoft and Oracle….