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Apple iPhone 5c phones are pictured at the Apple retail store on Fifth Avenue in Manhattan, New York September 20, 2013.
Apple iPhone 5c phones are pictured at the Apple retail store on Fifth Avenue in Manhattan, New York September 20, 2013.
(ADREES LATIF/REUTERS)

Thursday's analyst upgrades and downgrades

The Before the Bell report is constantly updated to reflect the latest news developments and market moves in the premarket. Check back later for updates.

Wells Fargo analyst Maynard Um downgraded Apple Inc. to "market perform" from "outperform," believing that the tech giant's gross margins will soon come under pressure as consumers look ahead to the next generation of its iPhones.