“Apple (AAPL) knocked below $500 in premarket trading Monday morning,” Rocco Pendola reports for TheStreet. ” It rebounded nicely, but who knows where it will end the day or what the week holds?”
“Why is it down? Because of pathetic, know-nothing Wall Street analysts,” Pendola writes. “You mean to tell me that each of these guys, suddenly, spotted this weak trend in iPhone and iPad sales and just so happened to lower estimates and price targets at the same time, on the same morning. Give me a freaking break! Do they think we’re total idiots? This is absurd. Absolutely absurd. These guys need a weatherman to know which way the wind blows.”
Pendola writes,” That said, rationality will win out here. It just might not happen until retail numbers start to trickle out… For now, plain and simple, you’re being screwed by the people who, apparently, own the responsibility of guiding you, managing your money and analyzing the companies and stocks you invest in.”
Read more in the full article here.
MacDailyNews Take: Being screwed or being offered the deal of the decade. It all depends on how you look at it.
To the broker who nabbed those sub-$500 AAPL shares this morning: Well played, you SOB!
I had a few fights with Pendola on twitter. He made his name trashing apple. I dont like him.
Pendola’s an idiot and a clickwhore
Pandola is right on this one….but YES you are right, don’t trust him at all.
“He’s right on this one but don’t trust him at all”? Hmmmmmmmmmm, now there’s an objective view. Oh, you mean he’s right this time because you agree with him. I see.
Personally I just try to think for myself. That way when things go wrong I don’t have to blame everybody else. Like blaming analysts because my stock tanked. I was able to pick up some sweet long-term calls at $501. But if it doesn’t turn out well it’s those damn stupid analysts fault! Oh wait, I don’t do that shit.
Agreed
This maybe true but he is right about analysts giving ignorant advice on apple performance. He is spot in here.
Probably one of the guys who convinced my dad to sell all of his apple stock (he had lots) when it was at around $90/share (he bought it in the $80s).. Guy told him it was done growing and will tank soon.
Pops didn’t call me to make sure..his “adviser” was apparently very confident.
A$$ hole stole my dads nestegg.
Investors who got screwed should either close their accounts and/or
move to a different investment institutions ASAP.
Or you would barely hear your fart because you let them keep
screwing you.
Earnings will move Apple. This company had created a Ecosystem. No body is close. It will higher next year. All the idiots that call themselves analysis don’t understand Apple. iPhone is not Apple it’s just the beginning of a
total way of life. Hold on and get rid of the Citi
no nothing’s.
i am a long-time ‘fan’ of apple products:mac, imac, iphone and ipad. i am not an investor of any stripe.
from what i read here apple stock is manipulated and maligned for the purpose of controlling the stock and therefore, profits.
must investors just be passive and accept the situation or are there proactive (legal) courses to be taken. isn’t the sec a regulatory agency whose mandate is to ensure truth, justice and the american way?
Plus one.
I don’t have any disposable income for APPL myself, but I do appreciate and admire our friends that do. It pisses me off to no end to see them kicked around like this week after week. There is no reason for these crazy share price swings other then manipulation, pure and simple. Yeah I’m a freakin’ democrat and everything else, but dispite the fact that I have no skin in the game, this is wrong. I hope the SEC can fix this mess for them because we (and Apple) need them, big time. Hang in there guys, this is bullshite and we ALL know it.
Go Apple!
I stay long (originally bought at 40 bucks, most recently at 380 bucks, but have never sold a share)
That way the jerks can jerk the stock down but it always springs back up
Can’t wait for retirement when I can see 3 thousand dollar AAPL and comfort! (Ok maybe wishful thinking, but I am long, and the trend is headed that way, if you ignore the chicken littles!)
Lol, 3000 a share! I know I said hang in there but… Let’s hope we live that long. Dude, you don’t know how many times I wish I’d spent the 17 hundred on APPL at 17 bucks a share or whatever it was at the time, instead of the 5215 Performa I bought back in the early nineties. Oh well, and this too shall pass, eh? Good luck, and thanks again.
Seems like these “analysts” are “me too” herd stampeders that twitch at the slightest movement and make the term “analyst” an oxymoron. (Like the term military intelligence.”)
It’s like the “me too” journalism on the school shooting. You just have to turn it off. There are better things in this world to focus on.
seems like alot of analysists are alot like ballmer…. clueless…
Analysts know exactly what they are doing, gaming Apple for all they got. Pretend “Analysis” of Apple is just part of the ploy. They could care less about the company other than how they can manipulate the stock.
The Federal Government and its insatiable appetite for more tax money all the time, and the current administrations fierce determination to increase spending about $1 trillion per year is what is screwing all investors. The only safe haven these days is being a public employee – you can’t be fired, you can retire around 50 with essentially full pay the rest of your life, and the taxpayers are on the hook for your 40 year vacation, with cost of living increases. The taxpayers who support this are watching their retirement funds disappear as the government has no coherent tax policy except the idea that it owns all you have. This is the hope and change we asked for. We now have it.
Don’t worry, there will be more sub $500 Apple shares soon enough after the a fanboys are tapped out.
Not true, provocative agent. AAPL is 80% institutionally owned. There are not enough “fanboys” to influence its price one way or the other.
Actually institutional ownership once was close to 80%. Its now about 62%. Institutions have been dumping shares.
Agent: I order you to throw out your ‘tighty whities’ and get some boxer shorts. Your balls will thank you.
Why is it down? Because of pathetic, know-nothing Wall Street analysts
Hang onto your AAPL kids. We’re going to hear A LOT of castrati, who’ve had their balls handed to them, early in 2013. I can hardly wait. 😆
3 weeks ago you couldn’t find a positive article about AAPL. Slowly they are beginning to appear. This is the same pattern that has been happening every time AAPL has had a major correction. No doubt there will be a parabolic move up in the next 2 or 3 months.
Wall street is just another form of legalized gambling, similar to poker, among other games the really wealthy make money off of. I don’t see it really fueling demand for products and creating jobs directly, although some say that stocks help companies invest in R&D and all that to create demand. There’s got to be a much better way.
Never, ever trust Wall Street! This is where the corrupt financial ‘Low Life’s congregate to spin their BS ‘ad nauseum’ for their own personal gain at your expense.