“Of the 57 analysts who track the stock and are themselves tracked by Bloomberg, Edward A. Zabitsky, of Toronto-based ACI Research, is the sole doubter who has placed a ‘sell’ recommendation on Apple,” Emma Rowley reports for The Telegraph.
“For more than a year, Mr Zabitsky has stuck to his negative view of the company, even as his rival analysts grow ever more bullish,” Rowley reports. “He has placed a price target on the stock of just $270 a share, arguing that Apple’s iPhone will come under increasing pressure from rival smartphone systems such as Google’s Android 4.0, known as the ‘Ice Cream Sandwich.'”
Read more in the full article here.
MacDailyNews Take: “For more than a year, Mr. Zabitsky has stuck to his negative view of the company,” even as Apple’s (AAPL) stock price went from $335.06 to $636.30 in the last 12 months, a $301.24 per share increase. And that tells you everything you need to know about Ed Zabitsky’s ability to analyze Apple Inc.