“Apple’s cut to a hold rating by Deutsche Bank late Thursday marked the second downgrade to Apple stock within a week, but Wall Street analyst aggregate ratings are still heavily bullish nearly a month after the much-anticipated iPhone 6 launch,” Reinhardt Krause reports for Investor’s Business Daily.
“Apple rolled out the iPhone 6 and its Apple Pay mobile wallet on Sept. 9,” Krause reports. “China’s government on Monday said that Apple’s iPhone 6 and larger-screen iPhone 6 Plus will go on retail sale in that country in mid-October, removing concerns. Availability in China, the world’s biggest market, had clouded analysts’ Q4 forecasts, but pre-orders have been brisk.”
Krause reports, “Despite clarity on China, Deutsche Bank analyst Sherri Scribner late Thursday downgraded Apple stock to hold from outperform, saying no major new products are expected soon to act as catalysts.”
MacDailyNews Take: See related article which casts considerable doubt over Sherri’s analytical capabilities:
Apple to hold special event on October 16th – October 3, 2014
Everyone knew this was coming except Deutsche Bank’s Apple analyst?
Okey-dokey. And pigs can fly.
“Apple stock was flat, near 100, in afternoon trading in the stock market today,” Krause reports. “According to Thomson Reuters, analysts’ overall recommendations are still largely bullish.”
Read more in the full article here.
MacDailyNews Take: What happens when the fix is in, but it doesn’t take?
Related articles:
Apple bears awaken with volatility highest in four months – October 3, 2014
Deutsche Bank downgrades Apple from Buy to Hold, lowers price target to $102 from $105 – October 2, 2014
The Deutsche Bank downgrade was one of the more blatant market manipulations in recent memory. The analyst RAISED income and LOWERED price to earnings ratio.
She basically said Apple will make A LOT more money (Up 22%) but it will be worth less (~16 P/E to a ~13.6 P/E).
Crock of Sh*t
Does anyone believe that Apple’s Q1 results will be anything less than a Blockbuster?
Exactly, because everyone believes that the price is already baked in! Thus, analysts need to determine upside or risk to current expectations. Deutsche simply saying they believe expectations will be met with no unanticipated surprises that would drive the price higher. Do any of you know anything about the stock market?
Yes I do and it is very clear that the playing field is not level. Analysts use the excuse of future risk to move the market in the direction they choose. The influx of cash from retirement funds and the short market prevent too much incentive for the market to manipulate stocks. Apple is worse off because of its stellar and reliable results. Very easy to pull the stock down due to the hype and simple to get people to buy in to push it back up again.
Chuck Jones at Forbes doubts this analysts credibility. His reasoning is sound:
http://www.forbes.com/sites/chuckjones/2014/10/03/deutsche-banks-apple-downgrade-makes-no-sense-when-looking-at-the-numbers/
These banks are purely trying to depress the APPL stock price prior to earnings, nothing more or less!!
Deutsche Bank = Douche Bank
Sometimes the insightfulness of comments on MDN amazes me. But not always.
Sometimes a few words say it all. 🙂
Sometimes like a little child but 90% right on.
Apple and Deutsche have a long and favorable history. It was Deutsche that Apple turned to last year to float its bonds. Deutsche engineering short term cash lending for Apple way back in the early days of Jobs returns when things looked bleak. You might want to know some history before calling people names like a 12 year old.
MDN’s take.
+1
Tim Cook = underperforming AAPL. Investors just don’t have much confidence in his leadership. That reality has set in and very unlikely to change. Products are great – as expected – but Tim simply does not inspire and for a company built on inspiration, that really, really matters.
You’ve been here long enough to move on if you feel that way. Not sure what would motivate you to care enough to post here at this point.
No kidding, bpondo.
Jay – what business background do you bring to your evaluations of Tim Cook as the CEO of Apple? And who among tech CEOs do you hold up as wonderful examples of leadership and innovation? Please name at least three…. two……. just one?
bpondo – I have moved on … I’ve reduced my comments on the matter of Tim Cook to just those stories MDN posts that confirm what I’ve been saying.
Maybe “move on” isn’t the correct term: Perhaps “GTFO” is more clear.
Sean wants to speak to you.
“I’ve reduced my comments on the matter of Tim Cook to just those stories MDN posts that confirm what I’ve been saying.”
Only in your own mind does that article confirm anything about Tim Cook. About all it illustrates is that bankers and analysts are a bunch of greedy and manipulative but ignorant jerks.
You haven’t moved on Jay, your comments for the most part have been on the matter of Tim Cook = underperforming AAPL, uninspiring leader and so on.
And on and on and on, your reason and anger blinding your logic as you spew your vitriol and anger and hatred for the man, as well as the MDN community of “lemmings” as you’ve called them.
That’s all you do, that’s what you’ve done since you’ve showed up a few years ago here. That’s what you plan to do.
Definitions work both ways Jay Morrison.
So just realize Jay Morrison how far your obsessive, redundant slice of hatred has brought you.
Jay Morrison = Troll.
Wear is proudly Jay, you’ve worked so hard to earn it. You’ve tossed away most reason as it’s been consumed by your hatred and you’ve moved beyond the pathetic fucking asshole with moments of lucidity to continue the way that you do, steam rolling and ignoring any gesture of kindness given towards you.
Now Jay you had a choice, you could have embraced new topics and the MDN community, rationalized some good aspects of Tim Cook’s leadership, and conversed intelligently and civility about areas where he does not perform as well.
You have chosen to repeat your redundant obsessive mantra of hate hoping that it becomes true. That’s your leadership at work Jay, and it’s a flicker compared to the bright light of Tim Cook. The thing you need to watch out for Jay, is that your hatred is making your leadership dimmer and dimmer. Tim Cook on the other hand is making Apple’s future brighter and brighter and not of the lies you spew forth from your vitriolic being will change that.
Nicely articulated, Warrior!
Who elected you sheriff? It’s a forum. Not your fucking backyard. If you don’t like the comments move on yourself. When you get tired of sucking each other’s dicks, take a breath. We’ll have another conversation.
“Who elected you sheriff? It’s a forum.”
So some people have the right to free speech, but some others don’t?
“When you get tired of sucking each other’s dicks”
You’re how old?
I’m an investor and I’m very confident. The headline says “Wall Street remains heavily bullish” which means that investors are heavily confident at his leadership.
You are basically wrong.
Tim Cook does inspire, you just fail to see it.
Jay, here is a video you should watch, and take to heart (oh, yeah, well….)
Wait until they see the phenomenal sales Apple will have this holiday season. New iPhones, iMacs, Mac mini’s, iPads, sales are going to be through the roof. Then we’ll have sales of the new Apple Watch for Valentines Day. Geez, what more do these guys want, Tim Cooks blood? It’ll be nice to see them proven wrong. As we watch Samsung, Sony, HTC languish, Apple will be kicking their ass every which way to Sunday. These analysts are a bunch of pathetic assholes.
I don’t get it, how come Deutsche Bank’s Apple analyst in Germany has the right to downgraded Apple, I thought only American analysts have the right to do so. Can anyone explain?.
Can’t answer that but from personal experience the Krauts are very self important. I have refused to buy anything made or designed by Germans for quite some time.
“Krauts are very self important”…
Are you an AMERICAN calling people from another country ‘self important’?
Germans make very good high quality products, except Mercedes cars, which suck these days, and Volkswagens, which leak.
Don’t count Samsung out. The note4 was released in Korea, and sold out almost immediately. (30,000 units) so they are definitely giving Apple a run for their money.
That would have to be shipped units, because Samsung never release figures for units sold.
Why did Mr. Cook lower the stock so more average people buy stock. Perhaps, as way to keep the stock from yo-yoing by block these large sales and buys.
Maybe…
Hilariouse.. 105 to 102… Look at the friginn prescision..
If this is not a topic for a joke what is?
Deutche is claiming to know apples earning at a precision of 0.45$ or almost 5 cent per quarter or 18cents annualy !( LMAO)
3$ divided by pe of 16 .. Diveded by 4 quarters !
They are probabley short and they want to creat a fear to lower price..
Or simply want in at a lower price!
What a joke the control of media has become for manipulation .
What a joke media has become !
At 4:17 pm finally one of WS most venerable rags has a story on the Chinese reservation of iPhones numbers. 17 minutes gate close. All day nothing about it.
The most important thing the shysters did today was to reprieve all the option calls for the next two weeks dramatically downwards. Not to mention how much they made today on the expired option calls.
Of course Goldman, amazon and google are up huge today.
Even msft is up.
Reprice options not reprieve.
Also 17 minutes after market closed. The rag by the way was forbes. Bet you all the others will carry the story during the weekend when it does not matter. Come Monday morning they will do the bidding of their masters. Creative writing is a well honed skill in the shyster realm.