Is Apple Inc. turning sour? Well Bank of America Merrill Lynch is certainly turning more cautious on the stock.

Analysts at the firm cut their share price target for the technology giant to $130 from $142 and changed their recommendation to "neutral" from "buy" on Wednesday.

They attribute the move to “near term headwinds” stemming from a deceleration in iPhone growth, according to a research note to clients seen by MoneyBeat.

The analysts say that this is leading to a “significant slowdown in revenue growth” and that other products, like Apple Watch, Apple Pay and Apple Music are taking time to “ramp.”

They say that the new iPhone 6S/6S+ will likely represent an “incremental upgrade” but will not be compelling enough to drive “a significant change in the pace of share gains.”