“Berenberg Bank believes Apple’s financial model is too reliant on the iPhone, and has predicted that the company’s shares will plummet more than 50 percent to $60,” Neil Hughes reports for AppleInsider.
“To say that Berenberg’s $60 price target is an outlier would be an understatement, as even the few major investment firms who are bearish on AAPL still have targets above $100. Shares of Apple were trading at [over $130 at last tick],” Hughes reports. “The justification for Berenberg’s extreme price target, according to analyst Adnaan Ahmad, is that Apple relies too heavily on the iPhone for its profits.”
“Ahmad doesn’t see much hope on the horizon from the Apple Watch, but he is bullish on the prospect of an Apple-built automobile. The analyst said he believes that Apple should acquire electric-car maker Tesla to give it a foothold in the auto business,” Hughes reports. “Despite its outlier projection for Apple, Berenberg is an established German financial institution, originally founded in 1590. It brought in 4.5 billion euros in revenue in 2013, and employs more than 1,300 workers.”
Read more in the full article here.
MacDailyNews Take: iCal’ed for revisiting on Friday, February 26, 2016.
I must have missed where they announced their massive short position on AAPL stock that they just opened at $130/share. They don’t put their money where their mouth is? I’m shocked! Shocked I tell you!
This is the usual Wall Street pump out negative lies. Get lazy news rags to repeat it. Add a few more lies, let it snowball.
Price drops a significant amount, probably not anywhere near that.
Then they buy a bunch of it. Wait for the watch to hit and ride it to the moon.
Later in the year, repeat the whole thing again.
Exactly. Nothing new here.
Not even worth an iCal.
Not worth my 2 minutes to read and delete.
Best to leave your mouth shut and open your shorts if you believe this.
Who?
Never heard of them.
They make their money selling bears.
Considering Apple has about $30 per share in PURE CASH, he’s saying that Apple’s ongoing business is worth about $30 a share? Just the Mac business is worth more than that…
AAPL at $60 means Apple did a 4-for-1 stock split at $240.
I was thinking 3:1 at $180
Doesn’t Google rely to much on search/advertising for its model?
Yes, and Exxon just sells oil and Toyota is way too dependent on selling cars.
What goes around comes around, why don’t American analysts downgrade BMW, Mercedes, Audi, Volkswagen stocks. I heard Mercedes struggles selling its cars.
Is this guy on something illegal. Totally nuts report.
At least they have profits.
Thanks… I needed a good laugh today!!
I wonder how many of those 425 years they were as dumb as the numbnuts are in 2015
“When it comes to the smartphone sector, Berenberg Bank analyst Adnaan Ahmad has an equal opportunity approach. He advises selling basically everything. In particular, this morning he issued Sell ratings on both Apple and Samsung. His basic position here is that the competition is going to get tougher from here. A lot tougher. And the result will be thinning margins.” — Forbes, March 6, 2013.
Apple proceeded to more than double in the two years after that great call. I’d guess that even Samsung went up a lot.
if they started the bank in 1590 with the equivalent of 1 million Euros, they have grown by a factor 4500 over 425 years. That means annual growth of 2% over this period. Clearly the worst bank in the world.
(as if we didn’t know that anyway…)
What the hell, did Oktoberfest start early at the Berenberg Bank? Nobody who is sober would say they expect Apple to drop to $60.
I dunnO but I’m drinking KCCO American made Red Hook Black Lager. That works for me.
Wait — he thinks Apple is too reliant on the iPhone for profits, but he really likes the idea of the Car because typical car profits are in the 10%-15% range?
Um, OK, I think I’ll remove my money from your institution now –– what every investor there should be saying.
October, 29, 2012:
“As we have stated before on many occasions, Apple’s time to turn from a tech titan into a dinosaur will come, but we still think that we are at least a year away…” — Berenberg Bank’s Adnaan Ahmad
First strike against AA is he’s an analysis. Second strike is politically incorrect, but the third strike is he’s clearly another Wall Street Criminal
Dear Berneberg Bank.
Tell you what. I’ll take up to 7,500 shares of Apple stock off your hands at $70.00/ share.
Deal?!?!?!?
Let me know when you want to do the transfer. Operators are standing by.
Don’t want you to get stuck holding the bag on this one.
Dear Berenberg Bank,
Please reissue your proclamation on April 1. That would be a more suitable day.
That ANALyst made me 💩🙊!
Ok MDN, time to change “iCal’ed” to something new. iCal does not exist. Hasn’t for a while now. It’s called Calendar not iCal. How about Calendar’ed?
Adnaan Ahmad
Creativity = 0% ; Imagination = 0% ; Entrepreneurship = 0%
Idea = 0% ; Survival Skills = 0%
Diet = Shit
Founded in 1590 and survived through two world wars.
Obviously they made a big mistake killing off their Jewish employees during WW2.
Its plain that:
A) Adnaan @ Berenberg is driven by his coverage of, or links to, Samsung Electronics.
B) He obviously does no work on Apple itself. He has had the same tiring refrain and target of 60 over a long time span.
Just goes to show that research analysts need to reveal their relationships with the companies they cover. Adnaan has never been on an earnings call with apple for a reason. Just another drive by hitman from the netherworld.
Adnaan Ahmad’s Stock Coverage Overview (Success Rate Per Stock):
AAPL: 0%
https://www.tipranks.com/experts/adnaan-ahmad
Clearly this guy knows his shit! 😀
Better chance of the Cubs winning the world series!
Just like Apple doesn’t make television but makes a little box you can plug into any television, I predict Apple isn’t going to manufacture a car, but will make something that can be “plugged into” a car the same way.
Apple Television = No
AppleTV = Yes
Apple Car = No
AppleAuto = Yes