This quarter's sales projection for iPhone maker was missed

On Monday, a Wall Street analyst downgraded Apple's (AAPL) shares amid indications

that demand for iPhone phones is declining, endangering Apple's performance in the June quarter. On the announcement,

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the price of AAPL fell. Ananda Baruah, an analyst at Loop Capital, decreased his price target for Apple shares from 180 to hold from buy.

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Apple stock declined 0.6% to settle at 174.20 on the stock exchange today.

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In a note to clients, Baruah noted that "Apple has now reduced its builds (and we believe shipment forecasts)

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Apple's forecast and Wall Street projections for the June quarter at risk of failing to materialize.

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In addition, he lowered his CRUS stock price target from 92 to 80. The CRUS stock dropped 1.4% to 77.04 on Monday.

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