iPhone

• Global Bonds Gyrate as Investors Try to Parse Central Banks’ Next Stimulus Moves (WSJ)
• Republicans struggle to salvage healthcare effort (Reuters)
• States' Medicaid spending to increase (Reuters)
• Apple's iPhone turns 10, bumpy start forgotten (Reuters)
• Fed’s Stress Tests: All Banks Cleared on Payouts to Shareholders (WSJ)
• Bitcoin's Become So Volatile That It Looks Like a Steroidal ETF (BBG)
• They Built the First Phone You Loved. Where in the World Is Nokia Now?  (BBG)

• Global Bonds Sell Off, Sparking Fears of Further ‘Taper Tantrum’ (WSJ)
• Facing revolt on healthcare, GOP senators delay vote (Reuters)
• Global businesses dig out from latest cyber attack (Reuters)
• Companies Work to Contain Fallout From Cyberattack (WSJ)
• Cyber attack hits property arm of French bank BNP Paribas (Reuters)
• Obama Choked on Russia Long Before the 2016 Election (BBG)
• The EU May Need to Introduce a Bloc-Wide Tax After Brexit (BBG)
• iPhone Anniversary Edition Gives Analysts Pre-Party Jitters (WSJ)

As we noted first thing this morning, Mizuho downgraded Apple to neutral from buy, slashing its price target on the world’s largest company to $160 to $150 on the view that robust sales growth for the next product cycle has already been factored into the company's share price. Among other things in its report, Mizuho took a look at some of the company's key growth markets - notably India - to try and quantify the potential for sales growth in the coming years.

The Apple pile up continues.

Suddenly the penguins knives are out for the world's biggest company, and exactly one week after Pacific Crest downgraded Apple to "Sector Weight" and a $145PT, perhaps a harbinger of what was to come later in the week, overnight another bank, Japan's Mizuho, has also taken the machete to its own growth forecasts of Tim Cook's juggernaut, and downgraded the iPhone maker to neutral from buy, cutting the price target from $160 to $150, claiming the best case scenario is now priced into the shares.