“Apple has been slumping,” Roben Farzad reports for Bloomberg. “In September, the stock hit an all-time high of $705. On Monday morning, it briefly traded below $500 in pre-market trading. (As of 11 a.m. ET, it was back up around $507.)”
“At least one analyst predicts it has much further to fall,” Farzad reports. “Since January, Edward Zabitsky of Toronto-based ACI Research has been arguing that Apple (AAPL) is headed to $270 a share.”
MacDailyNews Take: Since last January? He’s got about a month for AAPL to shed some $260.
Farzad reports, “He now sees the stock reaching that level in 12 months.”
MacDailyNews Take: What’s this, the rolling 12-month $270 price target?
Farzad reports, “Zabitsky says his bear case for Apple comes down to increased competition; the diminishing appeal of its closed-architecture App Store experience; and questions about management and Apple’s ability to innovate more than a year after the death of founder Steve Jobs.”
Read more in the full article here.
MacDailyNews Take: Hey, Crazy Eddie, what’s “ACI” stand for, Acute Cerebral Infarction?
Hit an AAPL price target without moving the goal posts for a change, you tiresome moron.
Related articles:
Analyst reiterates: Price competition makes Apple stock a ‘sell’ with $270 price target – April 20, 2012
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 $126 price target on Apple – May 7, 2010
He should bring his tale of woe to the M$ Store, where they might take pity and award him with a 10% discount on a Surface RT.
What would happen if MDN simply called a thirty or sixty day moratorium on ALL reports from analysts?
Life would be so much simpler (sigh).
Amen! Enough with the bean counters and shamans of Wall Street. And they call economics the dismal Science.
I thought you were going to say “ads” lol.
CNN’s ticker display is reporting a 25% drop in Apple share price as though it happened all at once today, and another saying “Walmart slashes prices on iPad and iPhone.” What is with this move to undermine Apple? Unbelievable.
Wait, he’s Canadian- maybe he lost everything on RIM and is trying (pointlessly, I might add) to get some revenge. What a doofus…
Be nice to our northern neighbor – Canadians :-)…. Canada’s health care system is much affordable and better than USA’s, although Canada’s income tax is much higher than USA’s
Total bullshit. If a Canadian is really sick and he/she has the readies then it’s off to a Big Time American hospital to get the operation needed in a day or two instead of a year or two in Canada.
> and he/she has the readies…
And there you have it… if they don’t, then they can just sit in the lobby with the rest of us. At least they’ll get their medical help in “a year or two”, most Americans that don’t have the ‘readies’ just go get fitted for a casket.
Wrong. I was in a minor collision a couple of years ago. Just to be safe, they decided to give me a CAT Scan and a regular X-Ray on my back. I was in there under an hour.
If you are really sick and you need treatment, the help is there and very fast and efficient.
It’s elective surgeries that have longer waiting periods and you can’t just see any specialist. Rather, you have to wait for an appointment.
I had to wait several months for an MRI for a minor condition.
Thanks A-pi, this is one post where I was hoping to be wrong. I’m very happy that you received your care in very timely manner. And truth be known, I know that I would likely be treated similarly. I guess my gripe was with the ‘readies’ comment. Many, if not most Americans, just simply connot afford these costly treatments. But someone has to cover them, and in my opinion, until there is a truly comprehensive plan to help citizens of all stripes ‘pay their fair share’, the Canadien model is still superior.
A friend in Canada was in the operating room 6 days after being diagnosed with cancer, while a family member here had to wait 8 weeks. Still think we’re the best?
If you can wait 3 mos for your appointment.
This is just some Fandriod who ideologically disagrees with Apples business model & is predicting its demise based on nothing but anti-apple fanatasism. The closed vs open ecosystem has 100,000s Andriods sending spam vs no virus or Trojan on iOS. This lock down is by design because Steve didn’t want death by 1000 (security) cuts which has caused such problems for Microsoft. This analyst simple doesn’t get it that only a tiny fraction of the market want the open ecosystem that Android provides. The early & late majority & tech laggards want security that just works which iOS is designed to provide.
ACI stands for Apple Certified Idiot
+1
Apple doesn’t give this guy the honor of any title… even idiot.
The absolute king of idiots called Analysts. But hey he still gets a lot of attention being totally idiotic. I guess some people unfortunately believe him aka his best friend Steve Ballmer.
Living in delusion makes life easier for some.
So, this is the $270 on Yahoo’s Analyst Opinion. I have seen that $270 for much more than a year. I thought the guy died and no one had the heart to take his old guess off the opinions. So, not dead just clueless!
Why not 180 or 90 or even 15…. just pick a number, any number!!!
And this guy is an analyst??????
I like his job. You get paid for being an idiot! lol
When will I see another topic like AAPL seeing 170 ?
what a bag of dumb. the world’s most profitable high tech company with a PE of less than 5? eat a bag of dicks.
$270? Why not $170 or just $70?
Totally random anyway.
Well, it can’t be $70 because Apple has a lot more than that in PURE CASH per share. 🙂
Apple probably has in excess of $120 cash per AAPL share by now. That means if AAPL actually drops to $270, the ongoing business of Apple is being valued at less than $150 per share.
What a moron… When Apple’s cash reserve (by itself) grows to over $270 per share, he’ll still be yelling “price target $270 for AAPL within 12 months!”
I will be the first to admit that I don’t understand all of the regulations surrounding the stock market, but I think the time has come for anyone who wants to be considered an analyst to be licensed in order to practice. Records of your calculations need to be on file and reviewable by the SEC in order to confirm that you aren’t using your position for personal gain. Mediatory reviews should be in place anytime you call for the reduction of a stock’s value greater than set percentage. Just a thought
I should have gone to Community College, get an Associate Degree in Finance/Economic, join the Banking industry, become an Analy-yst, and make boat-load of $$. 🙂
Anyone know what is the approx. average salary of an Analy-yst? 🙂
…sorry of my typos…
It should read “Anal-yst” instead of “Analy-yst”. My bad.
It’s actually the top educated that land jobs on Wall Street or as corporate lawyers. Yeah the money is there but others simply get real jobs 😉