“Ever since Apple unveiled the original iPhone back in 2007 there has yet to be a solitary launch of the device that hasn’t been wrought with some sort of controversy. That’s because the press would love nothing more than to see Apple fail,” Andy Zaky writes for Bullish Cross. “Even when there is no legitimate reason to criticize Apple, many will simply take a minor issue and blow it completely out of proportion in an effort to stir up controversy.”
MacDailyNews Take: As we’ve been saying for well over a decade now, ’tis nothing more than the very predictable FUD from competitors and/or shorts amplified in the media echo chamber.
“Doug Kass, an otherwise respectable fund manager and writer at thestreet.com, should know better,” Zaky writes. “ut he has more or less been a major leader pushing the bear case against Apple since early 2007 with his article entitled “Don’t Buy Apple’s One-Trick iPhone Pony“. At the time, he could have just bought the stock at $90. Apple has moved up 678% since that time.”
MacDailyNews Note: As we pointed out yesterday here.
Zaky writes, “Instead of embracing those 678% gains Apple has generated for its investors over the past few years however, Doug Kass has chosen to take the bear side of the trade for the same misguided reasons that every other Apple Fail Bear decides to do so. It’s because he actually knows very little to nothing about the company. And that is very clear from the commentary he has published over the past several years on Apple including his recent weak 10-bullet point argument for why Apple is topping yet again… While I’m not going to spend time on a point-by-point refutation of his argument, I will publish for the record why it is that Apple is going to $1000 a share by January 2014.”
Read more in the full article here.
Hedge-fund manager Doug Kass: Apple is losing its mojo – October 3, 2012