Apple Inc. (NASDAQ:AAPL), eBay Inc (NASDAQ:EBAY) and Twitter Inc (NYSE:TWTR) are the top tech stocks on analysts radar currently. Apple Inc. (NASDAQ:AAPL) for the obvious reason of launching its new product line yesterday and eBay Inc (NASDAQ:EBAY) because of the very same reason. Most people on the Street are factoring in the pressure that PayPal and as a result eBay Inc (NASDAQ:EBAY) will feel after Apple Inc. (NASDAQ:AAPL)’s Apple Pay captures a fair share of the mobile payment market. Twitter Inc (NYSE:TWTR) has been in news ever since declaring its second quarter results, performing better than the expectations on the back of advertising revenue growth. Thestreet.com’s Sussanah Lee reported on latest analyst ratings moves on these stocks.
“Tech giant Apple is downgraded by Pacific Crest to ‘Sector Perform’ from ‘Outperform’. Apple’s big event Tuesday did not impressed the analysts there. Pacific Crest said, the potential financial impact by new products is already priced into the stock. But eBay was downgraded partially on Apple’s account, its rated ‘Neutral’ now at Piper Jaffray and the price target was also lowered to $55 from $63 a share. Gene Munster is the analyst over there and he thinks that eBay may have competitive pressure in its PayPal unit from Apple’s new Apple Pay service […],” Lee said.
Lee then proceeded to mention that UBS has upgraded Twitter Inc (NYSE:TWTR) to a ‘Buy’ and has increased its price on Twitter Inc (NYSE:TWTR)’s stock to $63 from $50. Lee cited UBS’ reasoning of seeing improved outlook for digital advertising for Twitter Inc (NYSE:TWTR) as a reason for the firm to upgrade the stock.
As of June, 30, 2014 Carl Icahn’s Icahn Capital LP holds over 52 million shares of Apple Inc. (NASDAQ:AAPL) and 30 million shares of eBay Inc (NASDAQ:EBAY), while John Thaler’s JAT Capital Management owns over 7.3 million shares of Twitter Inc (NYSE:TWTR).
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