“Many investors found the timing of the sell-off suspicious, pegged as it seemed to be on a bogus report that Deutsche Bank had downgraded the stock,” Elmer-DeWitt reports.
“A downgrade the day before Apple is scheduled to report earnings made no sense, since most analysts we polled expect the company to blow past not only its own guidance (earnings of $1.7 to $1.78 a share on revenue of $11.3 to $11.6 billion), but the Street’s consensus (earnings of $2.07 on revenue of $12.05 billion),” Elmer-DeWitt reports.
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