Is stock darling Apple losing Wall Street?

Apple CEO Tim Cook announces the Apple Watch during a company special event at the Yerba Buena Center for the Arts on March 9, 2015, in San Francisco.
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As Apple Watch hype reaches a fever pitch on Main Street, Apple's stock may be losing one of its most important constituents: Wall Street analysts.

The unthinkable happened this week when not one, but two of them broke ranks with the faithful and downgraded the stock to "hold," Wall Street's version of a sell rating.

The latest came Friday from Raymond James' Tavis McCourt, who matters because he absolutely nailed the Apple trade two years ago when he upgraded the stock near a one-year low and before it exploded for a 125 percent gain over the next 15 months.

With these two downgrades, now 30 percent of the analysts on Wall Street recommend just "holding" the stock, the highest bearish percentage in at least two years, according to FactSet.

This sudden spike in bearishness for the world's most popular stock pushed the shares down 5 percent from an all-time high reached at the end of February.

Here's what's got everyone so worried: