After a drop in big technology stocks Friday caused the Nasdaq composite to post its worst week of the year, the shares came under pressure again on Monday after Apple shares were downgraded. Mizuho Securities' Abhey Lamba downgraded the iPhone maker to neutral from buy on Sunday, saying the best-case scenario is priced into the shares. The analyst echoed a common concern by investors taking profits in big technology stocks last week.

The Nasdaq index dropped more than 1 percent. Shares of Apple were off by more than 3 percent in early trading Monday.

Alphabet, Microsoft, Facebook and Amazon all fell by more than 2 percent. A Friday sell-off pushed the Nasdaq down more than 1. Apple, Facebook and Amazon are still up more than 27 percent so far in Alphabet is up 20 percent and Microsoft shares are 11 percent higher for the year. This is the second week in a row a Wall Street analyst has bailed on Apple on a Sunday evening.

AAPL:NASDAQ GS Stock Quote - Apple Inc - Bloomberg Markets

Pacific Crest downgraded the stock to start last week to sector weight. There are now six analysts with hold ratings on Apple and 25 who rate it a buy, according to TipRanks. Despite the valuation concerns, zero Wall Street analysts have a sell rating on the shares. Asia Europe Stocks Commodities Currencies Bonds Funds ETFs Investing Trading Nation Trader Talk Financial Advisors Personal Finance Etf Street Portfolio Watchlist Stock Screener Fund Screener Tech Mobile Social Media Enterprise Gaming Cybersecurity Tech Guide Make It Entrepreneurs Leadership Careers Money Specials Shows Video Top Video Latest Video U.

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AAPL Stock Price - Apple Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch

Big tech stocks under pressure again after Apple shares downgraded Mizuho Securities downgraded Apple to neutral from buy on Sunday evening. Nasdaq dropped more than 1 percent Monday. John Melloy Investing Editor of CNBC.

AAPL Stock Price - Apple Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch

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