Apple's two iPhone fire sales in China this quarter to burn off inventory (01 & 02) has led America/Merrill Lynch to reverse a call it made in November. The firm said several issues that were negatives at that time have reversed themselves, including inventory levels and growth rates at Apple's services business has led to a "buy" from "neutral," according to a new CNBC report. That's the good news.

The bad news, according to a second CNBC report today is that "Wall Street is turning sour on Apple."

According to FactSet, analysts have the lowest percentage of buy ratings on Apple's stock in nearly 15 years, signaling a bearish shift on the company's prospects not seen since the year it released the first-ever iPod Nano.

"I think it's basically a repricing of the stock away from a sexy tech stock to, essentially, a stodgy, dodgy, blue-chip-with-a-dividend stock, simply because the growth story in Apple has really petered out," Boris Schlossberg, managing director of FX strategy at BK Asset Management, said Friday on CNBC's "Trading Nation."

"It's by no means a sour apple," Schlossberg continued. "But it's just [that] the growth prospects here are quite limited, simply because the whole story or the narrative that they're moving into services, I think, is very problematic."

Schlossberg pointed out that roughly 40 percent of Apple's services revenue comes from one source, Google search, and that Apple's history might be capping its potential.

"I think Apple, at its core, culturally, is very much a hardware company. They need a huge hardware hit — that's what they haven't had. Until they have one, the growth story's going to be very limited," he said. "They do have one interesting possibility with the Watch as a medical device, but that seems to be still a very embryonic market. And I think that's the key thing: The market is just not excited about anything new on Apple."

Piper Jaffray, who makes a market in Apple sees it differently of course. Jaffray analyst Craig Johnson says that Wall Street is split on Apple with 22 buys and 22 holds and one sell.

"I think there's more room for this stock, ultimately, to work, and I wouldn't be too concerned about the place marker that the analysts have out there at this point in time, given some of the concerns and changes in the business model they've got," he said. "I think it's just been a resetting of expectations, but I think the longer-term picture for Apple is still quite positive."

Apple's stock AAPL is as split as analysts are. With Apple shares closing on Friday about $5 away from its average price target of $178.13 and still about 30 percent off its 52-week high, where the stock goes next seems to be an open question.

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