“Edward Zabitsky, CEO and analyst of ACI Research, told CNBC’s ‘Squawk on the Street’ that he rates the tech giant’s shares a ‘sell,’ with a price target of $270,” Morgan Tornetta reports for CNBC.
MacDailyNews Take: ACI. Acute Cerebral Infarction.
“Zabitsky believes that Apple’s iPhone could see some competition from the Samsung Galaxy and HTC 1X,” Tornetta reports. “Samsung had a strong first quarter, selling 40 million plus cell phones, and Zabitsky says this put them ahead of Apple.”
Tornetta reports, “While Zabitsky said that price competition is not yet steep enough to hurt Apple as much as he predicts it will, it is possible as new products hit the market. Phones developed by Microsoft, for example, cost consumers nothing after rebate.”
Read more in the full article here.
MacDailyNews Take: Crazy Eddie, his analysis is insaaaaane!
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