“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.
He means, after a 3 for 1 split.
No, he suffers from dyslexia and is typing 270 but is thinking 720. Numbers and letters get swapped around all the time I am sure. Go easy on the guy. He knows that Apple has almost half of $270 in the bank as cash.
As a fellow Canuck I would like to distance myself from analysts such as these. They don’t represent Canada’s opinions as a whole. It somewhat bothers me when they have to point out that he’s Canadian in the headline. There are articles about other crazy people’s comments, but the headlines never read “American Analyst says…”
+1
As a south-of-the-border Apple bull, I find someone setting out reasoned negatives far more interesting and useful than ten parrots playing back all the positives that everyone already knows.
But, yeah, I don’t know why headlines would care where somebody lives.
this guy says he “sets price targets over a two year time frame.” so … iCal him for January 2014, and we’ll see!
Ed died last year. Have some respect for the dead.
Great minds….
… last year, but he has been published THIS year. Perhaps this particular prediction – about as prescient as many others he has made over the years – last year?
How about we just call him out as the obvious hit-whore he must be. He offers no concise basis for his ludicrous claims.
Maybe Mr. Zabitsky died or was abducted by aliens sometime back in 2011. Someone ought to go check on him.
Mr Zabitsky is also famous for attempting to patent shouting as an alternative to Alexander Graham Bell’s telephone. What can I say it’s hard to teach an old dog new tricks.
“In other news, Mr. Zabitsky continued his recommendation of RIM as a ‘strong buy.'”
Wishful thinking as an analysis method.
In the words of the immortal Bugs Bunny, “What a maroon!”
At this point $270 is ridiculous, and cause for a sanity check. Within the next year, Apple will probably have half of $270 a share as CASH, even after the dividend and any stock buyback.
Apple’s rock-steady Mac business alone is probably worth at least $270 a share.
Beleaguered MacNewsDaily writers have never been adept at headline composition but we Northerners routinely give them a pass, eh!
🙂
He puts the ANAL in the ANALyst. lol
This guy is a laughing stock.
Reasonable price target.
Apple’s product shipments have been falling every year for the last 10 years — measured by weight, of course.
I will believe this dorky Zabitsky when Apple PE ratio reach 150 and Apple decides to rest on its laurels and stop being innovative. As long as Apple takes the contrarian route against Wall Street’s commonplace doxology of thinking that money grows on trees, Zabitsky will have his work cut out to justify his “end of the world” scenario.
He Zabitsky, if you have any AAPL I’ll buy it for $275. Okay?
I’m embarrassed that this guy is Canadian. We’re usually smarter than this.
I agree that their is no need to point out his country of origin, it’s not pertinent to the article in any way.
To Ed Zabitsky,i like your call Efd and I want to help you I will buy all the shares of Apple you are willing to sell for $270.00.