“Only three times in the past five years has [Bullish Cross’ Andy Zaky] recommended that his readers buy Apple shares,” Phillip Elmer-Dewitt reports for Fortune.
• July 2006 at $50-$54: 6-month $100 price target
• November 16, 2008 at $88.14: 24-month $230 price target
• August 11, 2010 at $250.19: 18-month $400 price target
“Two of those recommendations have paid off richly, and the third still has another eight months to do so,” P.E.D. reports. “On Friday, Zaky issued his fourth ‘buy’ on Apple:”
• June 17, 2011 at $320.00: 18-month $500 price target
“The market, however, doesn’t seem to give a damn,” P.E.D. reports. “Apple’s shares continued their post-WWDC downward spiral despite Zaky’s buy signal, dropping $4.90 (1.5%) Friday to close at $320.26, and falling another $9.76 (3.1%) in early trading Monday.”
P.E.D. reports, “Zaky is undaunted.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]