“Very few Wall Street analysts are willing to bet against Apple Inc. — as evidenced by the dearth of sell or even neutral ratings on the high-flying stock,” Dan Gallagher reports for MarketWatch.
“Ed Zabitsky of Toronto-based ACI Research issued a note to clients Wednesday afternoon, maintaining a ‘sell short’ rating and $270 price target on the shares,” Gallagher reports. “He said the early October launch of the iPhone 4S ‘skewed’ the results for the quarter, though noted that iPad sales of 15.4 million units for the period were ‘exceptional.'”
Gallagher reports, “The reason for his bearish view of the company is that Zabitsky believes the competing Android mobile operating system from Google ‘will change the playing field entirely’ with its latest 4.0 update, also known as Ice Cream Sandwich. He says the experience on the updated platform is on par with Apple’s iOS.”
Read more in the full article here.
MacDailyNews Take: Eddie, you’ve been iCal’ed!
On Friday, January 25, 2013, we’ll check back to see how Ed’s $270 AAPL price target compares with reality.
In the meantime, kids, pay attention: This is your analyst’s brain. This is your analyst’s brain on…
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For how long now has Android supposedly been about to level the playing field sometime soon?
Their hope springs eternal. (suckers)
How do you “level the playing field” anyway on a moving target (Apple)?
Finally, a new analyst worthy of replacing Laura… 🙂
No.. no I dont think we should ever let her forget how stupid her predictions were.
More like the new alex guano.
New? MDN made that observation on Eddie last year:
-hh
He actually gets paid for this dribble? And does not get fired by his firm? And he has apparently been way off base before. I want his job!
I think it’s “drivel,” not “dribble.” Although, the latter word does make the thought more amusing.
But ‘dribble’ does make a great malapropism for jimg. Then again, with a little effort, we can spoonerize it to “gets paved for this driddle.” 😆
It’s ok. Half his clients are now broke, and the other one didn’t take his advice.
The “law of big numbers” should have an asterisk for Apple.
..this is your brain…on Android?
I say send in Seal Team 6 to take care of this analyst…….
Its too bad that guys like this can’t be sued, when their clients lose big money for such ill conceived “advice”.
Don’t worry. No one is going to take his advice.
StockBoy lives! (And he has a JOB in Canada!)
Everyone has a job under socialism – just ask Obamamamamamama
Your insulting name calling reveals your ignorance.
Was your maiden name Puddle?
A puddle is where the genes in your gene poole were hatched.
Well, at least he ‘thinks different’.
To quote the famous stock analyst Bugs Bunny, “What a maroon!”
At least he isn’t expecting RIM to make a comeback.
Remember Katie Huberty???
And her prophesying doom & gloom against Apple 2-3 years ago?
MDN, I know you have it i’Called. Someone needs to call her back to the stage to comment on yesterday’s earnings report. Is she working at Sears in the appliance department?
Apple will cease to exist tomorrow! It’s done. Nothing but toys. Windows makes huge comeback tomorrow! [ rinse and repeat ]
Can someone tell me what game is being played and why we need a “level playing field”? Every consumer on the majority of carriers offers multiple platforms at competitive prices. Yet, iPhone dominates the market.
I know. If you buy an iPhone, you will be forced to buy 2 androids.
If this guy is short Apple, the universe is already exacting its revenge on his stupidity.
Wow!
Did this retard not see the billions they have in cash? Ah, his $270 mark is not even 3X cash holdings alone.
Wow! Can you imagine being this guy’s wife, family or friend and trying to have a conversation with this guy (assuming of course he’s married or has a partner, family or a friend).
As my mother always said, “you can’t argue with stupid”.
Poor bastards.
Even worse, I can only imagine the financial carnage caused to anybody idiotic enough to take his investment advice.
C’mon, the poor guy’s crack habit’s caught up to him. He needs a few extra web clicks to feed his habit. Avert your eyes and just keep walkin’…
You have a chance with a stupid person, but no dice with an idiot!!
I’d guess he lost about 9% on Friday on his Google stock and is pissed that he ever sold his AAPL. He’s looking for a dip to buy back in.
Eventually the Universe will expire as well.
Those crazy Canucks. Even I know it’s not going to go down that much. But it will!! The iDud will fail sooner or later!!! Listen to me. I know what I am talking about. All those other so-called tech bloggers are just Apple’s sycophants! Look at me everyone!
“…the early October launch of the iPhone 4S ‘skewed’ the results for the quarter, though noted that iPad sales of 15.4 million units for the period were ‘exceptional.’”
Did he just say that 37.04 M iPhones sold was basically just a rounding error?
WWSS=What Would Siri (or Steve) Say
Note to pundits: With the next iPhone iOS update, pundits will become outdated. 🙂
And Republicans will sweep House, Senate and President. Hahahahahahhahah.
Ed bet the same thing in 2010 that it was going down to $126. How did that turn out??
http://www.cnbc.com/id/37022686
And his reason was pretty much the same as it was today. Idiot.
He also predicted the rise to 44% profit margin: “The increasing capabilities of phones made by HTC and the end of the AT&T exclusivity contract will be the catalyst for that plummeting profitability.”