This Morning: AAPL Investors ‘Bruised,’ CSCO Cut, eBay Rising

Here are some things going on this morning in your world of tech:

Another day, another set of Apple (AAPL) expectations. The stock is down $1.43 at $504.66, reversing pre-market gains, following rather different recommendations from J.P. Morgan’s Mark Moskowitz, who cut his price target to $725 from $770, and from Goldman Sachs’s Bill Shope, who reiterates a Buy and a $760 price target.

Moskowitz is not too worried about iPhone sales at the moment, but he gave the stock a haircut because of “a reduction in valuation multiple ranges to reflect bruised investor sentiment.” Goldman’s Shope, on the other hand, writes “We believe Apple can post healthy upside to consensus,” for the December quarter, “particularly on iPhone units and overall gross margins, and this should allow the stock to begin its recovery after the recent sell-off.” Apple reports results next Wednesday.

Whom to believe? Perhaps Raymond James’s Tavis McCourt who sticks with his $690 price target, writing that Apple’s iPhones 4, 4S and 5 have cumulatively outsold Samsung Electronics‘s (005930KS) “Galaxy S” and “Galaxy Note” series of phones, combined, by 219 million units to 131 million in the time that those two devices have been on the market.

Shares of Cisco Systems (CSCO) are down 4 cents at $20.99 after J.P. Morgan’s Rod Hall cut his rating on the stock to Underweight from Neutral, and cut his target to $18 from $20, writing that despite the company “refocusing” and “prioritizing margins and earnings over growth,” both good things, nevertheless “we believe positive investor sentiment and Cisco�s shares have gotten ahead of themselves.”

Shares of eBay (EBAY) are up $1.36, or 2.6%, at $54.26 following a slightly better-than-expected Q4 report last night and an in-line revenue view for the year. I’ve seen no ratings changes this morning, but price targets are going up here and there. The Benchmark Co.’s Daniel Kurnos, for example, reiterates a Buy rating on the shares and raises his target to $63 from $58, writing that “We maintain our belief that guidance could prove to be on the conservative side” for the full year.

Shares of electronics connector maker Amphenol (APH) are up a penny at $68.27 after the company this morning reported Q4�revenue and profit per share that was slightly ahead of consensus, a Q1 view that was below, and an in-line view for the full year.

Shares of Nokia (NOK) are down 3 cents, or 0.7%, at $4.54 after the company this morning said it will cut 300 jobs in its global IT department as part of a “ranged of planned changes [�] to streamline its IT organization.”