SG Cowen’s analysts today downgraded shares of Apple Computer (AAPL to “neutral” from “positive.” The firm in a research note today said that it has become “more cautious” on shares of Apple in the near-term.
“Apple Computer is going through a more fruitful period, but it’s not immune from macroeconomic storms, argued SG Cowen in downgrading the shares to neutral. ‘The consumer purchase picture is a little more cautious, for all the reasons you’d expect,’ noted the analyst,” Igor Greenwald reports for SmartMoney.
Full article here.
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They’re gonna look pretty dumb come Tuesday.
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Investors can be skiddish– if they are skiddish enough, they prove themselves right. It often has little to do with real value or performance– it’s the expectation of future upside or downside. In AAPL’s case, many are having difficulty imagining growth that matches what has come before. Personally, I think they ain’t seen nothin’ yet, but my opinion means squat. They’re skiddish and now, even if Apple proves them wrong, it’s easy for them to say that even if the decline didn’t come now, it WILL come sometime. My hope is that relative to other businesses, Apple shines, making if a default investment because other copmapnies are struggling.
“his” as in, His post is really long. No pun intended.
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R,
Do you mean “skittish?” “Skiddish” is not an English word.
Like most financial firms, they have lagged Apple’s rise in price/value. As a firm that is supposed to give forward-looking advice, that’s not a good track record.
buy the rumour, sell the news, Cowen will be right short term.
Maybe he means Yiddish perhaps?
Considering the state of this nation, I would be cautious too.
MW “problems” – as in the USA has developed lots of big time problems in the last 8 years.
Sure. Maybe anal, too.
R,
I like ‘skiddish’ — has a nice feel to it.
I shall use it from now on (if that’s OK with you) as a superlative of ‘skittish’.
In point of fact, by lowering the expectations it will make the actual results — which will be excellent — even more impressive.