RBC Capital Market’s wireless analyst Mike Abramsky today reiterated his ‘sell’ rating on Apple Inc.
CNBC’s Jim Goldman asks, “Huh?”
“Yeah, didn’t make sense to me either so I called Abramsky this morning to get more information,” Goldman reports. “He’s a very forthcoming, reasonable guy and rather insightful. He told me his call might seem unusual on its face, but that it all comes down to ‘a concern about the valuation‘ of Apple, that the economic slowdown and worries about possible margin pressure and slowing sales haven’t quite been baked into shares yet. Shares going from $200 to $80 in a matter of months seems like an indication that Apple hasn’t escaped the Wall Street downturn, but I digress.”
Goldman reports, “He adds that both Apple’s Mac and iPhone businesses are great businesses, ‘but face challenges in sustaining prior levels of growth.’ He asks, ‘How long will people pay a premium for Apple’s superior innovation?‘”
MacDailyNews Take: For 33 years and counting, Mike. 
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