Apple (NASDAQ:AAPL - News) was trading in record territory Monday despite a rare analyst downgrade. Before the market open, BTIG cut Apple to neutral from buy, citing concerns on iPhone pricing and profitability. It expressed doubts that Apple could keep selling iPhones to wireless carriers at current pricing, about $600 each. The smartphones are then sold to consumers at a subsidized rate. Shares of Apple, slated to report results on April 24, rose 0.4%.
The S&P 500 declined for a third day on Friday with the three major stock indexes posting their first negative …