“Ever since Apple unveiled the original iPhone back in 2007 there has yet to be a solitary launch of the device that hasn’t been wrought with some sort of controversy. That’s because the press would love nothing more than to see Apple fail,” Andy Zaky writes for Bullish Cross. “Even when there is no legitimate reason to criticize Apple, many will simply take a minor issue and blow it completely out of proportion in an effort to stir up controversy.”
MacDailyNews Take: As we’ve been saying for well over a decade now, ’tis nothing more than the very predictable FUD from competitors and/or shorts amplified in the media echo chamber.
“Doug Kass, an otherwise respectable fund manager and writer at thestreet.com, should know better,” Zaky writes. “ut he has more or less been a major leader pushing the bear case against Apple since early 2007 with his article entitled “Don’t Buy Apple’s One-Trick iPhone Pony“. At the time, he could have just bought the stock at $90. Apple has moved up 678% since that time.”
MacDailyNews Note: As we pointed out yesterday here.
Zaky writes, “Instead of embracing those 678% gains Apple has generated for its investors over the past few years however, Doug Kass has chosen to take the bear side of the trade for the same misguided reasons that every other Apple Fail Bear decides to do so. It’s because he actually knows very little to nothing about the company. And that is very clear from the commentary he has published over the past several years on Apple including his recent weak 10-bullet point argument for why Apple is topping yet again… While I’m not going to spend time on a point-by-point refutation of his argument, I will publish for the record why it is that Apple is going to $1000 a share by January 2014.”
Read more in the full article here.
Related article:
Hedge-fund manager Doug Kass: Apple is losing its mojo – October 3, 2012
Doug Kass keeps repeating his mistakes..
Kass’ TOST analysis for AAPL doesn’t correct for PBAJ, doesn’t acknowledge PLUM, has a LATTE curve from 1950 for crying out loud… no wonder he’s so clueless
I feel sorry for the good innocent people that buy his newsletter.
“media echo chamber”
Now there’s a phrase I won’t soon forget.
And I’m sure the media will give me plenty of opportunities to use it.
Zaky makes great points – Kass knows very little about the company Apple as well as very little about technology stocks in general. I have subscribed to Kass on Real Money Pro for over 10 years and he is a great writer. He has a better record on market direction than individual stocks though. He has only owned Apple on a rare occasion for a trade but has owned DELL for longer periods of time. Kass recent analysis that after playing with Iphone for a few minutes and it seemed like a toy was absurd. The light weight and build quality of Iphone 5 are amazing. I agree with Zaky that Apple could get to $1000. as long as they continue to innovate and as long as their products and ecosystem continue to be better than their competition.
Agreed. Doug Kass misses the boat with Apple. Otherwise he is a respected writer who is usually spot on. But since my investing is generally in tech and almost entirely in Apple, I simply follow him as a way to gauge the entire market. He is sharp and knowledgeable just not on Apple are tech in general. But I live or die with AAPL so my focus is very narrow.
ha!
http://tech.fortune.cnn.com/2013/03/04/apple-zaky-bullish-cross/
‘ nuff said…
By the time January 2014 rolls around, $1000 will be in the rear view mirror, long past.
Agreed. I will be very surprised if the stock hasn’t reached $1,000 by September 2013, possibly long before then.
But, Andy is making a very public statement and putting his credibility on the line. I can see why he’d make sure his prediction was very conservative.
Wonder who employs him as a fund manager who has no knowledge of world’s most valuable company? I am also wodering @ street.com who allows rubbish article from dum writer.
Take a screen print of this:
January 2014 Google $350 to $370, Apple $290 to $310, MSFT $155 to $170. The 3 companies will have very defined device line ups and sustainable proprietary OS. Samsung will run it’s own OS and the likes of HTC, Sony and others will not be offering wireless devices or if they do they will line up with one platform which will be Android. HP will not even make it out of the gate with their 2nd attempt to market mobile communication devices.
Recession 2013 appears to be unavoidable at this point and will have an effect of consumer’s thirst to change or upgrade their device every 3 months or so.
I got something you can take a screen print of…I’ll even shave them first to give you a better view.
Spoken like the redneck that you are! Nicely done and your incest filled family should be proud as well as all of the 30 people living in your mobile home.
C’mon now don’t bring your inbred family into it GJ. Though it explains a lot…
Hold on a sec, your mom wants to tell you something but her mouth is full right now.
@Gary J
“Recession 2013 appears to be unavoidable at this point and will have an effect of consumer’s thirst to change or upgrade their device every 3 months or so.”
If you believe this, why on earth are you predicting a 5X increase for Microsoft stock?
Hi Gary J. Have you taken out a position on your predictions. There is no need to do a print screen. Everyone can have their opinions. Simply take a short position and put your money behind your predictions and then we will compare notes in a year.
Awesome prediction, but you forgot to mention that before then Apple has a 10:1 stock split!
A very well article and he could be spot on barring any major upheavals. I wonder though if the might be a split in Apple stock before then, he may still be right but off on a technicality. At any rate, nothing I am too worried about.
Kass is short QQQ/NDX and short readers . . . slamming AAPL predictably gets attention, i.e., eyeballs, clicks and $$$. He has been short bonds for a year and has taken a shellacking along with a good part of his flock.
Kass should simply stop writing about Apple because the evidence is in: he’s an idiot. What else do you call someone who is proven wrong time and again and yet persists with the same bogus rants against a best-in-breed #1 global company?
Some people just cannot shut up / admit their mistakes. Doug is a perfect example.
But unfortunately he is not alone. After every great Apple earnings report there is an army of so called “analysts” that have no clue how Apple operates, but in order not to be forgotten they have to say something controversial. Doug is one of them and the older he gets the louder he is.
He must have learned technology from Ron Enderle!!
Doug Kass back in 2007 said the same thing
“Look for the Bruises on Apple’s Report”
By Doug Kass
Street Insight Contributor
1/18/2007 9:16 AM EST
http://www.thestreet.com/_mktwrm/newsanalysis/investing/10333187.html?cm_ven=CBSM&cm_cat=FREE&cm_ite=NA