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FA Center: Why the bad news on Apple keeps on coming

It’s not just your perception that Apple can’t catch a break in this unforgiving market. It really has been the case that bad news has kept coming — and coming.

If history is any guide, this stream of bad news is likely to continue before the outlook for Apple AAPL, -0.11% turns up. That’s because analyst revisions tend to come in waves. A downward revision is more likely than not to be followed by another downward revision — and vice versa. (See accompanying chart.)

Investors who pay attention to analyst behavior caution against being trigger-happy with buy orders. They instead suggest waiting until analyst revisions start turning back up.

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