Apple Shares Lower After House Panel Seeks Records, Analyst Cuts Target -- Update

   By Stephen Nakrosis

Apple Inc. (AAPL) shares are trading lower in Friday's market, following news U.S. lawmakers are seeking emails from tech executives and after Goldman Sachs cut the company's price target.

At 2:40 p.m. ET, the company's shares were trading 1.75% lower at $219.24. Volume was over 30 million shares, above the 65-day average volume of 25.6 million.

Apple was among the tech companies who were asked by the House Judiciary Committee examining the industry to provide documents, including emails, financial statements and executive communications.

Before the bell Friday, Goldman Sachs cut its price target on Apple to $165 from $187 a share, as reported by Benzinga.

Later in the day, according to CNBC, Apple said it disputed Goldman's assessment, which said the offer of a free trial of Apple TV+ would have a "negative material impact" on earnings.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 13, 2019 14:58 ET (18:58 GMT)

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