Some analysts have begun to scale back their forecasts for Apple in the wake of the company's second-quarter financial results. Wells Fargo's Maynard Um has reduced earnings-per-share predictions from $44.51 to $38.71 for FY2013, and from $49.86 to $43.66 for FY2014. His valuation range has been sharply reduced, from $600-630 to $485-525. The analyst cites results that were below Street consensus, but does argue that the worst is behind the company, and says he expects results to improve.
