“Apple (AAPL) knocked below $500 in premarket trading Monday morning,” Rocco Pendola reports for TheStreet. ” It rebounded nicely, but who knows where it will end the day or what the week holds?”
“Why is it down? Because of pathetic, know-nothing Wall Street analysts,” Pendola writes. “You mean to tell me that each of these guys, suddenly, spotted this weak trend in iPhone and iPad sales and just so happened to lower estimates and price targets at the same time, on the same morning. Give me a freaking break! Do they think we’re total idiots? This is absurd. Absolutely absurd. These guys need a weatherman to know which way the wind blows.”
Pendola writes,” That said, rationality will win out here. It just might not happen until retail numbers start to trickle out… For now, plain and simple, you’re being screwed by the people who, apparently, own the responsibility of guiding you, managing your money and analyzing the companies and stocks you invest in.”
Read more in the full article here.
MacDailyNews Take: Being screwed or being offered the deal of the decade. It all depends on how you look at it.
To the broker who nabbed those sub-$500 AAPL shares this morning: Well played, you SOB!