The Apple upgrade that reads like a downgrade

Shoppers at an Apple store in Beijing, China
Zhang Peng | LightRocket | Getty Images
Shoppers at an Apple store in Beijing, China

Societe Generale upgraded Apple to "buy" from "hold" Monday, giving a lift to the shares.

But if investors take the time to read the actual note instead of blindly buying off the headline, they'll find the analyst raises more negatives than positives.