“Apple Inc. fell on Friday, with shares on course to close at their lowest level since April, as more analysts joined the chorus of bears and skeptics warning about the prospects for iPhone sales,” Ryan Vlastelica reports for Bloomberg. “The stock dropped as much as 2.9 percent, and shares are on track for their 10th negative week of the past 11. At current levels, Apple is down more than 28 percent from an October record, a collapse that cost the company its title as the largest stock by market capitalization.”

“DA Davidson cut its price target by $10 to $280 on Friday, warning that unit sales in the near term were probably lower than it had initially expected,” Vlastelica reports. “On Thursday, Piper Jaffray cut its Apple target to $222 from $250 and lowered its iPhone unit sales estimates for both 2019 and 2020, warning of weaker international demand.”

“Currently, the average analyst price target on Apple is a little under $221, or 32 percent above current share-price levels,” Vlastelica reports. “However, the target has dropped by about 7 percent from a recent peak above $237 at the end of October, according to Bloomberg data.”

Read more in the full article here.

MacDailyNews Take: Imagine if you had a huge multi-billion dollar program dedicated to buying back as much stock as you could. Imagine further if you thought that maybe, just maybe, pulling unit sales figures might have a deleterious effect on the very prices you’d be paying for your buybacks? Of course, Apple doesn’t think like that, but they couldn’t have planned it better if they tried.

Anyway, this is just more utterly predictable lemming behavior.

When the lemmings, er… “analysts” start their upgrade parade, then you’ll know the bottom has been found.MacDailyNews, November 26, 2018

In fiscal year 2018, Apple’s revenue grew over $36 billion to $265.6 billion. For the current quarter, Apple has guided for revenue between $89 billion and $93 billion, a new all-time record. (That’s revenue of roughly $1 billion — with a B — per day.)

When analysts learn to see without the unit share blinders Apple has just removed, hopefully their eyes won’t pop out of their heads when they finally see those huge numbers and realize how very much more is to come.MacDailyNews, November 28, 2018