India, Dec. 4 -- Shares of Apple Inc. (AAPL) continue to see notable weakness in late-day trading on Tuesday after an initial move to the downside. Apple is currently down by 4.4 percent.

The initial drop by Apple came after HSBC downgraded its rating on the tech giant's stock to Hold from Buy and lowered its twelve-month price target to $200 per share from $205 per share.

"What has made the success of Apple, a concentrated portfolio of highly desirable (and pricey) products is now facing the reality of market saturation," HSBC said.

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