Apple shares down as pair of analysts cut price targets

“Shares of Apple Inc. dropped Monday after a pair of analysts reduced their share price targets for the iPod and computer maker, with one citing cuts in iPod production,” The Associated Press reports.

“Banc of America Securities analyst Scott D. Craig on Monday lowered his share price target to $160 from $180. In a note to investors, he cited data from Asia indicating that although production levels are solid for the company’s computers, they are being cut for iPods,” AP reports.

“Also Monday, RBC Capital Markets analyst Mike Abramsky kept his “Outperform” rating for the stock but lowered his price target to $175 from $200. In a client note, he wrote Apple’s multiple valuation has fallen due to economic and growth concerns,” AP reports.

Full article here.

25 Comments

  1. Once again Wall Streets motto “instant gratification takes too long” applies here. What does Apple have to do to get the respect of these MBA dweebs? My money is on Apple maybe there won’t be anymore innovative products this year but you betcha your ass that they will introduce some great new products that will once again have the industry standing on it’s head.

  2. These guys are like the weather scientists who trust reports for their prognostications instead of looking outside!

    I was at the Eaton Centre Store here in Toronto yesterday afternoon. I could hardly move. I could hardly get the attention of a staff person. I finally snagged one to buy a MBP. She had a line-up following her around.

    The store was so hot that I had to take my hat and coat off.

    When I left the store with my new MBP I found myself in a veritable river of other purchasers making my way through the mall.

    They can’t keep MB AIR in stock. the manager told me they’re desperate to have iPhones they get asked for by almost every one.

    No wonder they have gotten rid of the check-out counter. The line-up would be immense!

  3. When will these analysts and other talking heads get tided of this. It is not an iPod count that matters. I would much rather have an Apple customer buy 1 iPod touch for $299.00 than 4 iPod shuffles at $49.00 each!

    It is about the cash flow and profits not the item count that drives the stock price!

  4. I’m no financial expert, but it seems to me that these analysts do a lot more REACTING than PREDICTING. When things are going well and all of the press is positive, they all hike up their price targets. Then when things take a dip and the press is negative, they all jump on THAT bandwagon and lower their price target. It’s a joke, who’s leading who? Then they claim that it’s because of perceived softness in iPod and iPhone demand, ignoring the fact that sales of Apple’s bread and butter, the Mac, are booming.

  5. I have to agree with Gman, STFU. I keep reading all you experts here who seem to know how great the stock is. Meanwhile I am sitting on 1k shares I got at $170 before the run up to $201. I for one find even $160 target a pipe dream. Just sayin.

  6. Hoot,
    “I for one find even $160 target a pipe dream. Just sayin.”

    Based on what? You had your chance to make 30k, and I don’t think that these “Apples not worth it” Analysts have any more brains than you do.

    Except that they have a certain amount of control (over the market as a group) and inside info than you or I will ever have.

    Now I’m no genius but neither are you or Gman or the analysts

  7. Like I saw Warren Buffet say today, anyone who cares about the daily ups and downs of the market shouldn’t be buying stocks.

    I makes me laugh– they move their target to $160, $40 above where it is and it drops anyway. It’s like winning the Olympic gold, but because everyone expected you to be a little better, they kick you off the team.

  8. “Like I saw Warren Buffet say today, anyone who cares about the daily ups and downs of the market shouldn’t be buying stocks.”

    He also says don’t touch technology stocks with a 10 foot pole.

    And don’t touch stocks where the fundamentals are not there.

    Both cautions would apply to Apple.

  9. Once again we have people in Wall Street listening to supposedly “educated” analysts. I’d bet that at least 90 percent of these so called informed individuals have never even used a Mac and as usual, we have financial markets running off of Windows. I figure that if the stock holders out there really want to make an impact, they need to wake up the investment community.

    Just because Microsoft is cheap right now does not necessarily mean it’s a good buy.

    my $.02

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