“Although the month of December has not been great for shares of Apple, for those waiting on a rebound, there’s still plenty of hope,” Richard Saintvilus writes for Forbes. “Since teasing investors with $594 per share on December 3, shares have plummeted to as low as $518 (losing 13%) only 3 sessions later. There was no explanation other than the bears had seized control of the stock.”
“What appears to be a concerted bear attack is working,” Saintvilus writes. “But it won’t last – at least not according to analyst Gene Munster of Piper Jaffray, who says the stock is going to $900.”
Saintvilus writes, “In speaking with CNBC recently, Munster said: ‘I’m a fundamental analyst and did a lot of calls with investors today, and I feel like I got a master’s in technical analysis just based on an earful from investors, and that’s a big issue.’ In other words, there’s been no fundamental reason for Apple’s recent slide. It’s all been noise.”
Read more in the full article here.
And if you are wrong you WILL make up the difference won’t you?
NOOOOOOOOOOOO REEEEAAAALLLLLLLY!?
I am beginning to picture all the analysts that get quoted here being in a big room wearing the playing card joker outfit as they shout their predictions of the week.
http://codebluepulse.blogspot.com/2011/06/just-another-joker-in-pottstowns-deck.html
The shorting manipulators are going to get out of the market in case Lucy Koh bans Samsung.
Dream on. Apple is a mobile device company mired in competition with everyone else in the field and, regardless of the superior quality of the devices, has become one among the many instead of the elite status they once occupied. in other words, Apple has become ordinary. AAPL will not see 700 again and 900 is total fantasy.
Bet?
So according to you: Apple only sells phones, and is both a “superior” AND “ordinary” company. And this is the “analysis” you’re making pricing predictions with. You’re about as sharp as a marble. I feel sorry for your money.
The stock hit an all time high in late September. If they were
“mired” in competition and lost their elite status did investors first figure that out in the last 2 months? Not likely. This selloff is all about longs taking profits before the cap gains tax goes up. Apple hitting 900 is 100 times more likely then never hitting 700 again.
Mired? Ordinary? Drinking your Kool Aide? In other words, you are clueless!
It was Steve Jobs who declared that Apple had become a mobile device company – not me. Since then, they have basically abandoned any interest in securing the ever-growing corporate and government markets for serious computers just when those potential customers were ready to switch from the miserable MSoft. But, in what I believe is the blunder of all times for the company, they instead focused 90% of their effort on the fast buck from gadgets. It worked very well but now the run is over as all suppliers of phones, pads, and pods have caught up and rendered Apple into an ordinary company like themselves. I also said the devices themselves were superior quality, but even that is not enough for investors in AAPL who are now convinced the company has become Sony or something just as they all were expecting to happen – no company has ever avoided the pattern and, under Tim Cook, Apple has delivered on those expectations. If they had continued to make the MacPro, with a robust variety of choice of this real computing machine, they had a chance to remain dominant, but they didn’t do that. So, here we are.
Glad you’re not my financial advisor.
Enterprise and government accounts are notoriously unprofitable and troublesome. The universe of billions of consumers is far larger and richer. There’s no doubt that this target became Apple’s one and only focus very, very early in their evolution, in fact, it was always Jobs’s passion. When you use terms like “serious computers” it betrays a snobbery of some kind, as if the goal of making “computers for the rest of us” is less valid or patronizing.
Seriously ppeterson?!
Does everyone else “in the field” have that much cash? Do you really think that cash flow is just going to dry up?
The only one dreaming here is you.
Doesn’t it depend on what the rest of the Market / Casino does?
Gene Munster has always been one of the most analytic analysts; in other words, while others are simply bull$h!ters, he actually does some analysis, sends people out there to count iPads sold in stores, and makes an actual effort to find out and get some real information before proclaiming something. While he has also often suffered of the same syndrome as the rest of the AAPL-following analysts (conservatively estimating quarterly numbers), he has usually been right about most other things (Apple TV set notwithstanding).
He does these mall surveys etc, but I find him a bit emotionally attached to AAPL at times. Just saying.
KGI Securities analyst Ming-Chi Kuo is a far better Apple analyst and has an excellent track record for predicting what products (and when) Apple will release.
Munster reminds me of the boy who cried wolf.
…not according to analyst Gene Munster
That killed it. How about having someone reliable stating the obvious? Then maybe the barnyard stock traders might get the clue.
It must be time to ride the bobber back up now that they have bought all they can afford this go round.
I agree . Apple is gonna soar
there were the same news all over again before here. whenever it said, it’s been totally wrong especially this year. even 10 years later $900 won’t be happened. unfortunately, $705 on September was the highest number apple ever did. they should keep the marginal line of $500. it could be easily broken anytime soon.