“How many analysts does it take to make a ‘buy’ call on Apple? The answer, at least according to Citigroup, is three,” John Melloy reports for CNBC.
“Three analysts will tag team the world’s largest company with one covering the software side, another tackling the hardware side and yet another person evaluating its semiconductor supply chain, according a note from the firm Monday,” Melloy reports. “‘Citi is taking a unique team approach to Apple coverage,’ states the firm’s bullish note. ‘This reflects Apple’s broad impact to the technology supply chain and allows us to uniquely follow the company from several industry angles.'”
Melloy reports, “Traders questioned the move by the bank with some saying it was just a marketing ploy but not really needed. Others wondered if the move underscores just how unwieldy evaluating — and managing — a company as enormous as Apple has become. ‘Apple’s revenue and cash holdings are bigger than some small countries’,’ said David Greenberg of Greenberg Capital. ‘At this point, no one person could run the entire company, and dividing the company into two to three different ones based on products might be an idea whose time has come.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “David E.” for the heads up.]