“Apple (AAPL) has seen earnings estimates cut and its stock downgraded over the past few weeks, as Wall Street turns bearish on the tech heavyweight,” Chris Ciaccia reports for TheStreet. “So when Apple is upgraded by a former bear, it makes one stand up and take notice.”
“BTIG analyst Walter Piecyk upgraded Apple to ‘buy’ from ‘neutral,’ setting a $540 price target, implying some 25% upside from current levels,” Ciaccia reports. “This coincides with what buy-side investors, particularly Jeffrey Gundlach, have said in recent weeks.”
Ciaccia reports, “The Doubleline Capital investment chief recently said that Apple was ‘really oversold’ in the short-term, and could go higher as its next move.”
Read more in the full article here.
Really! “The general consensus is that Apple needs to innovate, particularly on the iPhone, perhaps with a bigger screen, more colors, and perhaps a cheaper iPhone to win customers.”
What! Give me a wireless implant in my brain to work with my next iPhone or the entire iPhone rests on your ear like a hearing aid. THAT WOULD BE INNOVATIVE! “bigger screen, more colors, and … cheaper” IS NOT INNOVATION! It is Samsung!
Samsung’s advancements are cheapnovations, easynovations, nobrainernovations, anydummycouldthinkofthisnovations and of course avoidingtherealhardR&Dworknovations.
Looks like the bandit crowd is priming the pump for the AAPL move in the other direction.
Melissa Lee hasn’t gotten the memo yet though.