Apple shares tumbled downward today after an analyst at Goldman Sachs downgraded the company, citing weak consumer spending and the feeling that Apple wasn’t likely to introduce a new and sensational product at Macworld. Earnings estimates for Apple were cut to $4.75 a share, down from an initial estimate of $5.13 per share. Apple’s price target was also lowered to $115, down from a previous target of $125.
In a somewhat related story, Mac sales last month were down 1% from the same month the previous year. The Wall Street Journal has the full scoop here.