“Shares of Apple (AAPL) continued to hold gains during the afternoon part of the session, though it sold off in the closing minutes, ending down 8 cents at $428.35,” Tiernan Ray reports for Barron’s.
“At the same time, however, Argus Research‘s Jim Kelleher, who has a Buy rating on the shares, this afternoon cut his price target on the stock to $600 from a prior $775, after Kelleher cut his estimates for the year to reflect lower iPhone sales amidst a ‘proliferation’ of smartphone models at lower price points, and to reflect a greater mix of the lower-price iPad mini in tablet sales,” Ray reports.
“Kelleher thinks smartphone competition is outstripping Apple’s ability to stick with a single new model each year,” Ray reports, “He sees the company coming up with an ‘iPhone 5S’ refresh in the late summer, and a cheaper iPhone for emerging markets by the end of the year.”
MacDailyNews Take: Which of course, genius, neatly negates your big theory of “a single new model each year.”
Read more in the full article here.
MacDailyNews Take: Jim who, from where? We love watching these dim-bulb, third-tier “analysts” struggle to concoct reasons for their knee-jerk capitulation to the wrongheaded whims of the herd. Lemmings.
Apple just needs to work harder, do better, keep their eyes on that price target, and Wall Street will reward them with a gold star.
MacdailyNews should take a stab at doing the analysts job, putting his take on the numbers game.
I have a feeling MDN might routinely be a bit high…
🙂
There should be an”Anal-ist Hall of Shame/Fame” that forces the losers to lose everything they have in like return.
real PT is more around the 560 mark but there is money to be made in apple stock
the real question should be what is the 2 year PT and perhaps it is as high as $1000
The more these bullshitters cut , the more likely AAPL is near the bottom .
Where do they see “lower sales”? Is this some new definition of lower to mean increase YoY? Strange maths here!
Oh my god , should I sell my AAPL now ? I am so scared that I bought more last night .
I am so scared that I will borrow to buy more AAPL tonight. I am so scared !!
Mortgage the house and use the kids college fund. Oh wait, did you sell last September? If so, you’re in great shape. You have all kinds of money to invest now. You did sell last September didn’t you Ray? Ray? Ray?……… Ray? Oh my.
I will transfer all my AAPL share to 2014 jan $800 call .
The more I fear , the more I will buy .