“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!
Related articles:
Canadian analyst maintains ‘sell’ recommendation on Apple with $270 price target – April 9, 2012
Analyst maintains ‘sell short’ rating and $270 price target on Apple Inc. – January 25, 2012
Analyst slaps $126 price target on Apple – May 7, 2010
“Phones developed by Microsoft, for example, cost consumers nothing after rebate.”
Yes, and they are worth that amount. 😉
Totally agree. I wonder when these boneheads will realize that a $400 iPhone has more value (read utility, usefulness, capability… every single reason you could have for owning a smartphone) than any Android or Windows phone (can’t bring myself to call them smart) and $400. Well, except that you could go out and get an iPhone and also have a paperweight or save water by putting the windroid phone in the toilet tank – that would be worth more. Hey, now there’s a marketing idea for Nokia or Samsung, “with our phone you can save with every dump!”
The “free” phones from Microsoft/Nokia is only a temporary desperation tactic to gain market share so this too shall pass.
AND!! If this were not enough to make one PUKE!! here is the Follow-Up story from CNBC!!!
Once-Mighty Apple Stock Plunges Over 10% in 10 Days
UN…….. FCKing BELIEVABLE!
I ponder how much bribe $$$$ he is pocketing?
http://www.cnbc.com/id/47119666
That’s OK by me.
Just means I’ll be able to pick up more shares.
Grabbed some nice options today. Some nice May 560’s. Made a bunch of money the last few days being short AAPL. Plan on making more as it kicks up Monday or Tuesday. Maybe hold some through earnings. AAPL earnings is always a sure money maker. No matter how often it happens buyers just don’t understand that it always gets hammered down before and sometimes through earnings. It’s like the sun comes up every day. Dah! Easy money.
Shhhh…it doesn’t work if too many ride the same horse.
“It always gets hammered before earnings” ….Except when it doesn’t. As in 8 out of the last 12 it didn’t get hammered before earnings.
Yup, meant to say almost. You are incorrect as to the 8 of 12 figure. I checked. But fscuttle, I’d call this week a hammering wouldn’t you? Huh? Just saying.
Maybe to you it’s only a hammering if it drops 50% or more? Just saying.
I wanna have whatever this guy has to forget about all the bad things in the real world . I’ve heard of the reality distortion field but this guy needs to realize you need to start with a form of “reality” or else it doesn’t work
Stock manipulation
iPhone 3GSs made by Apple, for example, cost consumers nothing even without a rebate.
LMAO! Someone refill this guys prescription. He’s obviously off his meds.
I mean, seriously?
Geeze, how often have I heard and seen this crap since 1997? Apple ain’t going anywhere but up. Eddie’s just a clueless, self-serving dullard.
Actually, this ‘Kill Apple’ mentality goes back to 1984! And look where Apple is now.
Share and Enjoy:
Apple Death Knell Counter
@BMW:
That’s the same attitude that nearly killed Apple the last time around. AAPL is down big again today on the market, so obviously you need to set down the MDN kool-ade and do some serious analysis. No stock in the history of the world has accelerated skyward as fast & as far as AAPL in the last decade without coming down eventually. _All_ companies have ups and downs, even our beloved Apple.
No stock in the history of the world has accelerated skyward as fast & as far as AAPL in the last decade
…so, they’re in uncharted territory.
_All_ companies have ups and downs, even our beloved Apple.
Yes, but the fallacy here is that you seem to be assuming the level they’re at now is too high, and that some kind of “correction” is needed to a lower value. Whereas it’s already been documented elsewhere (such as on the Asymco site) that Apple’s stock is *under*valued.
Some additional good reading:
http://daringfireball.net/linked/2012/04/19/apple-can-keep-growing
http://daringfireball.net/linked/2012/04/19/apple-cannot-keep-growing
http://verynicewebsite.net/2012/04/the-argument-that-apple-cannot-keep-growing/
In fact, it makes a lot of sense to recommend this “sell”, that way they can make the stock price to drop so they can buy it at a lower price and them make more money when all this “analysis” proved to be a lie.
It’s rather amazing that one man can bring down mighty Apple with just the wave of his hand. His one “sell” rating carries more weight than 49 other analysts “buy” ratings. He must have some supernatural powers or something.
Its not just “mighty Apple” Companies big and small are hurt by this kind of crap.
Yet the crooked idiot anal-istas run free, doing and saying whatever they want with zero accountability for their actions, or regard for the investors they are supposed to be helping.
IT”S ‘LET’S CRASH THE AAPL PRICE WITH FUD’ DAY
–>Edward Zabitsky, CEO and analyst of ACI Research:
Just another orifice from which fecal matter erupts. This is not the first time he has defecated on AAPL for the sake driving down the price. Déja vu SCUM behavior, noticed and cataloged. This isn’t capitalism. It’s PARASITISM.
I don’t like FUD!!!! Kill all PARASITES!!!! They’re lovely when steamed and served with a bearnaise sauce. Delicious. My favorite form of genocide.
Again? What’s his fixation with $270? Shouldn’t his new reasons, indicate a new analysis with a new result? He’s just rehashing his old target with new reasons.
At this point, wouldn’t $270 represent a catastrophic collapse?? I can see Apple’s stock price coming off its highs, but all the way down to $270 would require some serious problems in Cupertino.
——RM
So many hammering bad stories about Apple today, stock price drops, quarterly report looms, stock price goes up.
And the SEC parties with the Secret service in Colombia.
Not holding my breath but I’d buy at $270. Holding for now.
What a bloody idiot. The guy must have been a loser in every field he has attempted to succeed in. I will pay him for his refills.
What a laughable bozo this guy is. Say something so friggin’ stupid that it attracts attention.
What is wrong with the world today? AAPL drops and sky-is-falling-predictions fly all over. The only real problem is that so many un-AAPL savvy investors can start a self-induced stampede for the downside. THAT is the risk here, not AAPL.
when he wrote this article he must be drunk. Thats all i can say for this nonsense writing