11 analysts have lowered their Apple $AAPL targets in recent weeks, Fortune observes. Many of them attributed their cuts (I, II) to reports of iPhone order reductions, but the recent drop in Apple shares is probably playing a role as well. Topeka's Brian White maintains the highest target ($1,111), and ACI Research's Ed Zabisky the lowest ($270). The average target is still at $740, 44% above current levels.