“Last week, Andy Zaky of Bullish Cross, representing a group of unpaid analysts who follow Apple in blogs, challenged the professionals who do it for banks and brokerage houses — and whom the bloggers claim are clueless,” Phillip elmer-Dewitt reports for Fortune.
Elmer-Dewitt presents a chart that details how the analysts fared and remarks, “What jumps out of the chart for me is how badly the pros blew the iPhone numbers: the Street consensus was off by an shocking 72%. It was here that the bloggers shone.”
“The prize for the most embarrassing call goes to Barclay’s Ben Reitzes for missing the iPhone number by more than 3 million units, followed closely by Merrill Lynch’s Jeff Fidacaro and Bernstein’s Tony Sacconaghi,” Elmer-Dewitt.
“Nobody got everything right, but considering how badly the pros misjudged iPhone sales and how close the unpaid analysts were on the other numbers, I have give this round to the bloggers,” Elmer-Dewitt reports.
See how the analysts did in the full article here.