Canaccord Adams started its coverage on Apple (AAPL) with a ‘hold’ rating, and Nokia (NOK) and Palm (PALM) with ‘sell’ ratings, saying the worsening economic climate has set the stage for ‘a very difficult 2009’ for consumer electronics companies,” Purwa Naveen Rama reports for Reuters.
“Canaccord Adams, which has a target price of $80 on Apple, said the company’s premium pricing attached to its premium brand could make it more vulnerable as consumer price sensitivities increase,” Rama reports.
MacDailyNews Take: “Could” is the operative word. Steve Ballmer “could” win next year’s Boston Marathon, but the likelihood in our estimation would be low.
Rama continues, “On Nokia, Canaccord Adams said the mobile phone manufacturer may lose market share in the handset space. On Palm, Canaccord Adams said the company has become largely irrelevant in the smartphone space due to a series of strategic errors and poor execution.”
Full article here.
[Thanks to MacDailyNews Reader “Brawndo Drinker” for the heads up.]
Why when these idiots state that Apple’s “premium pricing attached to its premium brand could make it more vulnerable as consumer price sensitivities increase,” is this not challenged!!!
Tuesday afternoon, I went to the local Apple Store and got a Time Capsule and the the 10.5.4 version of Mac OS X Server and the store was full of customers! Has anyone offered to drive these talking heads to a store to see reality and defend their dumb opinions!
“Has anyone offered to drive these talking heads to a store to see reality and defend their dumb opinions!”
Hell no. They’re all PeeCee users in their investment houses, and you know it. What these anal-ysts know about Apple/Mac from firsthand usage could be put in your eye (and you’d never see or feel it).
Ignorance is power at Canaccord Adams, et al.
Apple has a $999 laptop that is about 20 times more powerful than the computer that took up a whole floor at my university in the 70s.
A decent dinner for 4 at an average restaurant will set you back north of $200.
It’s all a mater of priorities. Macs are not expensive when you really think about it.
Who is “Canaccord Adams”?!? I’ve never heard of them. Are they in Canada or something? Canaccord, Canada. They’ve never been on a conference call. Why is anyone paying attention to these numbnuts?