Sell Apple because 5G expectations are 'too high' and stock will drop, Rosenblatt says

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Rosenblatt Securities is sticking by its sell rating on Apple because the firm believes expectations for iPhone customers to upgrade to new 5G smartphones are "too high."

"The market has become too enthusiastic about the upcoming 5G cycle," Rosenblatt analyst Jun Zhang said in a note on Friday.

Apple shares slipped 0.3% on Friday to close at $318.31.