Apple has become more unloved by Wall Street analysts than at any time in the past 14 years.

Wall Street analysts have the lowest percentage of buy ratings on Apple stock since 2005 — at 49 percent, according to FactSet. Another 51 percent are holds.

As Apple shares plummeted in the fourth quarter, losing more than 30 percent, analysts changed their views on the stock. The percent of buy ratings has fallen by 14 percentage points from 63 percent in August.

Wall Street analysts' ratings on Apple stock

green represents percentage of buy ratings

Source: FactSet

"It's interesting from a sentiment and contrarian view point," said Todd Sohn, technical strategist at Strategas Research. "The analysts are throwing in the towel on the name. It may take a few months for it to repair and chop around here, but I think it's in the process of forming a bottom."

Sohn said Apple is down 39 percent from its Oct. 3 high. "That's a pretty good shakeout and you can combine that with the stock ratings," he said.

Buy ratings reached a high in 2010 to 2012 when they were mostly more than 90 percent of the ratings. At that point, Apple's stock was in an uptrend.