Tim Seymour: Apple stock heading to $580

“The bar has been raised too high for Apple [AAPL] ahead of quarterly earnings and could disappoint investors, Tim Seymour of EmergingMoney.com said Wednesday on CNBC,” Bruno J. Navarro reports for CNBC

“On ‘Fast Money,’ he called out Apple CEO Tim Cook’s revelation this week that the company recently sold 100 million iPads,” Navarro reports. “In order to boost Apple stock, Seymour said, the company would need to sell in the neighborhood of 200 million iPads next year.”

Navarro reports, “‘It’s not a valuation question. It’s an overcrowded trade, where it’s show-me-now, and there’s not much to show them,’ he said. ‘I think the stock goes to down to $580 before you get good support.'”

Read more in the full article here.

33 Comments

  1. If you’re going to speculate, are you even going to look at past performance at all? Apple has proven a consistent ability to innovate ad to skate to where the puck will be. If Apple begins to show an inability to do that, or when Apple products show slower growth, then you can say that there is saturation or waning interest. There is certainly no indication of that yet. Why other stocks soar of companies that are worth less and show less progress while shmoes like this call for Apple to sink is absolutely insane.

    1. So if apple stocks do tank after they announce their earnings, will the stock drop right away or could it possibly drop and then rise because they had the wrong estimates?? I’m curious cause I put a stop loss order 600

      1. while true, however that would imply that most buyers/sellers have BRAINS.. and brains that function properly… and based on the price/performance it’s clear they do not… so a split would give a perception that the stock is a great price… and likely move it up faster..

        1. No it won’t. Look at past splits. Usually there’s a spike when the split is announced, but if you look at the average over the period until the split executes, there’s little upside beyond the normal movement of the stock. At least in AAPL’s case.

  2. Translation: Because we have underestimated Apple in the past we fully intend on setting the bar so unrealistically high that Apple can’t possibly reach it, so we can feign disappointment, kick the stock around and make a killing.
    Wall Street – stripping out the wealth for the 1% for the past 100 years or so…

    1. “Wall Street – stripping out the wealth for the 1% for the past 100 years or so…”

      …and is the reason why, in my conspiracy-minded analysis of the science fiction movies of the last 80 years, New York City is always the metropolis wasted by alien invasions, tsunamis, subway hijackings, terrorist attacks, virulent epidemics, zombie apocalypses, meteor targets, volcanos, and King Kong and Little Joe Young, not to mention moral indictments, C.H.U.D. dwellers, blackboard jungles, police corruption, lurking Men in Black, and assorted cases of serial killers and atrocious off-broadway theater productions.

      Hollywood—our champion: gunning, in their own signature way, for the last three generations, for the Wall Street nexus that is the vile and corrupt nucleus of this city; Hollywood, being cheered on by billions of us “out-of-towners,” which includes all the rest of us: rubes, dunderheads, and chumps according to the Wall Street types. We can’t stop your robbery of our economic freedom, nor your cynical assessment of our character, but through the magic of cinema we can at least imagine how satisfying it would feel if your asses were handed to you on Captain America’s shield.

      1. What? Holy cow. What the hell are you talking about boy? Listen, we like it out here in Hollywood(which is really Burbank) so keep running down New York. Have at it. Although the Prez is gumming up the traffic this evening as he visits Jay Leno. You don’t want to be near Olive and Alameda! Or Bob Hope ( airport). But yeah, we like it out here. Nice weather, pretty girls, nice cars, pretty girls, great food, pretty girls……….. And by the way, it’s Mighty Joe Young not Little Joe Young. Okay, continue with your rant.

  3. As much ad I’d like to see $700 again, I’m actually looking for the market to punish AAPL tomorrow. It’s the same ol’ same ol’ where the Wall Street guessers set their targets and if AAPL doesn’t meet them the stock gets hammered. Tomorrow’s iPad numbers will most likely come up short, ad will the iPhone numbers.

    Doesn’t matter that sales will ultimately be through the roof, the guessers will sell like crazy. We’ve all seen this before. It’ll be a good buying opportunity for sure.

  4. For the last 10 years the same pessimistic predictions have been made. Why are they given credence? Fear will attract the readers but it doesn’t equate reality especially when analysts try their negative hand at the most valuable company in the world. This is Apple and they have a hard time understanding insanely great companies.

  5. As I have said before .., Apple needs to do a 3 for 1 stock split to bring the price down to where individual investors can get in and wrest control from the institutional buyers…. These funds control the stocks ups and downs so they can make money on the dips and climbs… It is sad and Apple could stop this if they had a mind to.

  6. Andy Zaky put up a brave front about Apple’s strength calling a bottom of $610 but he was wrong. The economy isn’t getting any better and the hedgies are going to strip whatever gains Apple shareholders had away to make money for themselves. It’s plain to see that Wall Street doesn’t care much for Apple because they’ve disrupted a couple of industries. Apple will remain the most successful and wealthiest tech company on the planet because the hedge funds have no control over consumers’ buying habits but the share price will continue to fall faster than ever.

    Apple’s share price is only worth as much as the hedge funds make it to be. Apple’s bull analysts have (intentionally or unintentionally) fooled Apple shareholders by filling them with pipe dreams that won’t be met. The stock market has become a casino and playtoy for the hedge funds and only they can control it to win. I’m expecting Apple will miss hugely tomorrow and fall well below $600. It’s the nature of a crooked game. Apple is busting its chops for naught from a shareholders point of view.

      1. Interesting perspective, but I’d like to point out one thing – there is no last laugh – just one long and badly-written sit-com – a few guffaws, but lots of groaners.

        You could have had the ‘last laugh’ if you sold at $700. Once upon a time that was $200. Will Apple get there again? Who knows. Maybe if it falls to $300 and goes back up to $500, there will be another chance for a last laugh. AAPL’s only worth what you sell it for, whenever that might be, and that will be the day you laugh or cry.

  7. We need to look at where Apple has been in the last year before claiming the sky is falling.
    http://www.google.com/finance?chdnp=0&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1351134178515&chddm=98923&chls=IntervalBasedLine&q=NASDAQ:AAPL&&fct=big&ei=3KuIUPiEG8GciALr4QE
    Even with the the recent drop Apple is up 50% YTD.

    The stock takes larger drops and comes back again with vengeance. The dollar value maybe larger but the behavior is the same.

    It’s annoying (almost criminal) to see the brokers play with the stock but until there is market reform the ups and down will repeat themselves.

  8. Apple has been struggling lately. Partially because it almost always drops before product release or earnings. We have both this week. Earnings may be rough. Stock price could drop precipitously. I may have a few calls going into earnings tomorrow but mostly I will be on the sidelines waiting to see what happens on Thursday. Should have some upside going forward especially if the price drops to $580. And yes, that is possible. Still like everything that Apple makes but as far as an investment I believe it’s going to be a little tougher to make money with Apple. This isn’t the Apple of the last four years. But it could be good for a pop through January. After that, we’ll see. Be a wise investor, do not be foolish around earnings. You can be a cheerleader or a fanboy but don’t bet the rent money. Use your head.

  9. What is this guy smoking? Apple is already oversold and its future is bright after the product lineup that it just revealed. Those new products follow the updates that Apple released just 6 weeks ago – the new iPhone 5, retina MBP, and iPods.

    The only problems that Apple has are producing iPhones and iPad minis fast enough, and completely extracting themselves from Samsung as a major component supplier. There is a lot of room left for Apple to grow, and many people have missed huge opportunities by betting against Apple over the past decade. Apple is not done, yet.

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