“Wedbush analyst Daniel Ives cut his price target to $275 from $310 on Wednesday, the latest investment bank to do so on iPhone demand concerns,” Vlastelica reports. “However, he affirmed his outperform rating and wrote that Apple remains one of its ‘favorite tech names heading into 2019 despite the horror show over the last month seen out of Cupertino.'”
“The comments echoed a recent report from Morgan Stanley, which also touted Apple’s services business and argued that the recent decline had been overdone,” Vlastelica reports. “Apple shares have plunged almost 25 percent from a record high in early October, a slump that ended the company’s multiyear streak as the largest stock by market capitalization. The stock has dropped more than 20 percent thus far this month, putting it on track for its biggest monthly decline since September 2008, during the financial crisis.”
Read more in the full article here.
MacDailyNews Take: Unit sales figures that no other major tech company offers (or have ever offered) are worth $300 billion in market value?
As we wrote yesterday: We’ll gladly accept a nice AAPL discount sale that benefits not only smart investors but Apple’s buyback program as well. Tim Cook et al. are wise to clam up and let the manipulators and fools speciously talk down the stock in their fact-free echo chamber as loudly as possible before Apple reports all-time record holiday quarter earnings in January.
Eventually, the so-called analysts will wise up. As we all know, they’re always well behind the curve.
The pessimism and hypocrisy surrounding Apple is endless – November 28, 2018
In the darkest hour of Apple’s ‘white-knuckle period,’ some investors are loving it – November 21, 2018
Poor news curation at Bloomberg, CNBC, Reuters created misleading iPhone supply chain panic – November 19, 2018
WSJ: Apple slashes production orders for all three new iPhone models – November 19, 2018
Misreading Apple’s supply chain and iPhone XR demand – November 15, 2018
Apple: Ignore the noise – November 14, 2018
Dialog Semi says not seeing hit to demand from Apple – November 14, 2018
Don’t panic about iPhone sales just yet – November 14, 2018
Apple stock: This is not a repeat of 2015-16 – November 14, 2018
iPhone XR production cuts not due to soft demand – analyst – November 10, 2018
Apple’s Asian suppliers fall on report of canceled iPhone XR production boost – November 6, 2018
Nikkei claims iPhone XR production cuts, Apple stock drops over 3% – November 5, 2018