“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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