“Barclays’s Ben Reitzes is third among three analysts today cutting estimates and targets on Apple (AAPL), reiterating an Overweight rating while raising his price target to $530 from $575 after cutting his estimates for this year and next based on his view that ‘new products are more second half loaded’ and there’s increased pressure on the iPhone,” Tiernan Ray reports for Barron’s.
“Reitzes met with Apple executives Phil Schiller, head of worldwide marketing, and CFO Peter Oppenheimer at the company’s headquarters in Cupertino, he writes, to discuss ‘the value of Apple’s ecosystem, the prospects for more return of cash, the puts and takes for margins, prospects for the iPhone and the market potential for the iPad mini’ and came away with the impression that ‘the company is very optimistic about the general product pipeline and its market position,'” Ray reports. “‘We believe that there is an undying dedication at Apple to innovate – and its leadership is working hard to prove bears wrong,’ [Reitzes wrote].”
Ray reports, “Reitzes cut his fiscal 2013 estimate to $181.5 billion in revenue and $43.75 per share in profit from a prior $184.7 billion and $44.56.”
Read more in the full article here.
Apple is DOOMED, DOOMED I say. Just wait until the stock price is $50 and you will see. They will have to shut the doors and give the (by then) quarter TRILLION dollars back to the share holders…….. cause……. well…….. they are selling hardware as fast as they can build it.
Yep, Apple is DOOMED. It is just not innovating fast enough for its competitors to copy it (after all, what is Samsung to do if it does not have Apple to copy)..
Such a sad ending to such a great company. OF course there is the idea that once Apple closes, it can become a patent troll, suing every other company in the world for patent abuse and getting cash just for suing.
Its a weird world. /much s.
JAT
en
“…while raising his price target to $530 from $575 after cutting his estimates…”
Mebbe that’s “lowering his price target”?
You beat me to it. I think it must be the new math.
It just proves some analysts are not thinking right.
…and isn’t it about time for Eddie Zabitskty and Gauno to chime in with $125.00 targets?
Well, there goes the Dell comparisons.
Barclays Bank: Documented CROOKS of the banking industry.
Why does anyone give a RAT’S what these parasites have to say? Dicks. 😛