“Morgan Stanley cut its price target on the shares of Apple Inc., citing weaker demand, especially for the iPhone,” Sandhya Menon reports for Reuters.
“The brokerage conducted a survey of 2500 U.S. consumers in late November and said despite significant price cuts, only 5 percent of respondents indicated ‘extreme’ interest in purchasing an iPhone, down from 7 percent in its February 2007 survey,” Menon reports.
Menon reports, “Morgan Stanley cut its price target by $10 to $95 and has an ‘equal weight’ rating on the company’s stock.”
Full article here.
MacDailyNews Take: More fun and games. In February 2007, Apple had just unveiled the original iPhone to the world a month before. The amount of coverage and interest was staggering. And “extreme” interest in the device stood at 7% as measured by Morgan Stanley. Today, after nearly two years and well after the next iPhone model’s release and in a much tougher economic climate, “extreme” interest is still at 5%! Think about that. If anything, they ought to be raising the target. And, what’s this survey’s margin of error, by the way?
Morgan Stanley’s analysts are either idiots or think that those listening to their AAPL analysis are idiots or both.
Bottom line: “Weaker demand?” Puleeze. Morgan Stanley is a total joke.
With the stock currently at $100, this is a really risky prediction. Just add some good Apple news and it will drop accordingly -:)
I wouldn’t say Morgan Stanley is a total joke at all. Times are tough. People are uncertain. A conservative estimate is not a bad thing.
A cosnservative estimate is not a bad thing…a conservatice estimate without real data is.
US$95.00?
Ups! Already beeing there!
Ha!Ha! Morgan wants to buy some more share for cheaper…
Am I missing something here? How can they lower their target BELOW the current price? The stock is actually trading down 1.76 to 98.50 still above 95…
Manipulation.
Since 2007 the iPhone has gradually spread to markets around the world, and is only now beginning to ramp up sales internationally, including most likely China and Korea in 2009. Not to mention over $27/share in cash and large gobs of unrealized income spread over 24 months due to subscription accounting. What an embarrassingly disingenuous downgrade! Philip Elmer-DeWitt will be all over this one.
After the economic Meltdown revealed the the incompetency and recklessness of these brokerage houses and banks, is there still anyone there that actually lends any credence or trust in what they have to say and their credibility????
Heck, their target was lower than yesterday’s closing pirce …….
Morgan Stanly….. going belly up….. so you do not have to.
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Weren’t they in some financial mess, just, oh say a week ago???
I am sure that they are in a great position to sound knowledable.
Just a thought.
en
Typical of ANAL-ISTS! They all have there heads up there ASS!
Can’t see a company growing by leaps and bounds if it were to go up there ASS!
IDIOTS!!!!
is this a joke! i can’t believe some retard analyst can put a price target that is lower than it’s trading.
And friggin RIMM gets downgraded because they actually are losing market share to Apple and what happens? The stinkin’ stock goes up!
While not a financial analyst or general investor, I have been closely following Apple and my Apple stock in the market for years. The market manipulation and clueless “estimates” and predictions in the face of reality of Wall Street have severely diminished my entire faith in the financial system.
What reality do these idiots live in?
how about a bailout you MS cocksuckers. why are we even listening to you? go screw yourselves and get fat on the taxes I paid you with my AAPL profits due to wall street socialism. I’m coming out to greenwich to screw your wife, your daughter and your mistress.
Have the feeling Morgan Stanley live in cloud-cuckoo-land…
compare this survey (sample set and methodology) to the recent Changewave survey
this is pure crap….
the analyst at MS (Huberty) that put out this call is always far off and i’m surprised she’s still employed
Some wealthy Morgan Stanley client apparently wants to go long on AAPL and wants to get in below $100/share.
Here’s a link to the full article–it’s about four times longer than the link provided by MDN and much juicier:
http://seekingalpha.com/article/110124-apple-estimates-target-cut-on-weak-forecast-of-isales
Morgan Stanley use this school-project style of amateur research and then speculate about the future. Its easy money for them, but it’s amazing that there are big-money investors that listen to this trash.
Apple are doing exactly what I want them to, continuing to invest during the downturn. With their first Apple Stores in France and Germany, two massive markets in Europe where I believe they have a natural market, and more Apple Stores on the way, I think we are in for a great Apple decade of growth.
Does MDN read the news? Investors are not going to put dollars in any stock, no matter how much it’s shilled by the fine editors here. I don’t know what the support level for Apple is, but I don’t think it’s at 95, probably closer to 80. The market has become irrational, so there is no logic that will cause the price to go up or down.
This downgrade may be a joke, but the joke is on Apple investors. The downgrade, ridiculous or not, sent the rats scurrying from the stock and helped drive it down. So, the target price is lower than current price. Don’t worry, Apple is ready to sink to that lower level by today.
Although fanboys know that Ms. Huberty doesn’t know squat about Apple, WS investors still believe her. Good luck on hoping Apple is going to be giving a gift for the holidays. Most likely New Year’s Eve will see Apple sitting below $105, maybe even below $100. Nice lump of coal for investors for a supposedly invincible stock that was $200 last year going up to $250. iPhones be damned.
Ms. Huberty is either the epitome of the clueless, Wall Street tech. analyst or a dishonest market-manipulator.
Either way, she’s quite despicable.