Apple Stock Plummets 7.4% on JPMorgan Price Target Cut

Apple's stock price fell by 7.4% during mid-day trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $345.00 to $340.00.

The stock traded as low as $300.00 and last traded at $308.91, with approximately 131,672,244 shares changing hands during trading, a significant increase of 158% from the average daily volume of 50,965,531 shares.

JPMorgan Chase & Co. currently has an overweight rating on Apple stock.