“Shares of Apple Inc. fell 3.3% to $392.90 in premarket trading on Wednesday a day after the iPhone maker and a much higher cash-return program for shareholders,” Barbara Kollmeyer reports for MarketWatch.
“BMO Capital Markets cut its rating on Apple to market perform from outperform, and dropped its price target to $435 from $440, while also cutting its full-year 2014 estimate. The analysts said challenges of increased competitiveness in the smartphone market will offset capital allocation,” Kollmeyer reports. “Analysts at Janney cut their Apple target to $500 from $520, while Nomura cut its price to $420 from $490.”
Read more in the full article here.
MacDailyNews Note: In pre-market trading, shares of Apple Inc. (AAPL) are down $11.39, or -2.80%, to $394.74 at 8:25AM EDT.
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The analysts see nothing good until Tim Cook is fired.
Fire Tim Cook.
Amen.
Gee, and the last time Apple followed the dictates of an idiotic stock market, and pitched Steve Jobs, what happened?
These morons have ZERO idea what actually is good for the company. They are furious that Apple’s been able to pack away a massive war chest that protects them. Unless Apple disarms themselves completely, they aren’t upping the stock. Then, once it does, here comes Bain capitol to announce a leveraged buyout followed by dismantling the once great Apple.
Firing Tim Cook would unleash the floodgates to hell for Apple. Not one thing would improve.
No way!
Samsung troll alert. Tim Cook is beating your companies ass so you were sent here to clear Tim Cook out of the way. Got it asshole now fuck off and die of cancer.
Maybe you should take your own advice.
Are there no other options? What the heck does Apple need to do to get the prices up? I’m betting even the “Next Great Thing” wouldn’t get this above $450. Ridonkulous…
I don’t like these analysts!
Sounds like the “good old days” of the ’90s. Whenever Apple had good news the stock price dropped.
Exactly, djp. Good news for Apple is EXACTLY what keeps angering these stock traders. They see nothing but a treasure to pillage.
Drop 20 billion on it this am Apple.
Apple will likely now fall further which will actually bode well for the repurchase. Good chance the repurchase will be able to buy a lot of shares on the cheap ie $350 a share. Buy back 170 million shares at those prices will bring the total outstanding down to around 800 million. This lull in products and the buyback produces a great time to buy in and hold long. Dividends and covered calls will yield you a nice return during this time.
Waal Street wants to pimp Apple.
Nothing has changed except I’ll get a higher dividend. Thank goodness for that much. I’m glad to hear the company is still relatively healthy but it appears as if the share price will continue to stay in the dumper for the rest of the year. It’s going to be really hard for recent investors to stick with this stock as they’ll never get their money back. It’s no longer a worthwhile investment unless you have lots of shares. I guess Apple can’t be blamed for this stagnant share price mess, so I’ll just have to suck it up and be satisfied with the dividends.
Hello $350’s…
I saw $406 this morning, and started to second guess my sell at $398, but with this news I see these analwipe-ists aren’t done screwing Apple after all, just as I suspected. So I’ll hang out before buying back in. If these fools drive it to a stupid low price I can buy back in at even more shares.
Hang in there Tim! Anyone with a brain appreciates the personal strength you show in these tough times with such unfair attacks lobbed at you daily. Stay tough, Steve would have.
Unbelievable. They want more of the profits returned to the investors by way of dividends and stock buy-backs, they get it and the stock drops. Does this make sense to ANYONE out there? I think Apple’s stock is a great return on investment- what really is so different between now and last September? Very strange…
No. That’s why I sold. These idiots have Apple by the short hairs now that Steve isn’t around to strike them dead in their tracks with his lightning bolts. Tim is a good leader but sometimes you need a Superhero to kick some villainous ass. Hope Tim finds a cape with a big “S” hidden somewhere in the old office soon.
The Galaxy S4 will be out in May and Tim Cook declares no new iPhones until around September. Why would any investors put their money on Apple? Samsung is going to absolutely flood the smartphone market with their devices, leaving Apple with almost next to nothing. Even if the next iPhone does have a fingerprint reader, is it really going to be worth all the supposed delays? Investors probably don’t think so. Android and Samsung have most of the consumer mind share now and they’re rolling with momentum. Apple doesn’t appear to be doing anything at all as far as I can tell. This is only how I see it and it doesn’t look good to me.
The s4 is delayed as of this morning ,hmmmm
This is really getting bizarre now. Why is Apple treated differently then any other stock in existence?
Hedge funds.
Well ..the drop in aapl is “kinda” strange, but only kinda because the net profit was down 18% to 9.5 billion and TC gave very modest forecast about the next quarter.
Having said that the dividends and the buy- back program really should have given the stock much much more boost.
WS works in mysterious ways I guess where facts and fiction intermixes.
Drop is not strange. Right now Apple’s current product line has hit the ceiling. Apple has received their large stock value from their revolutionary products (IPhone IPod, IPAD, Air) not their evolutionary product (IPAD4, IPAD Mini, and IPHONE 5). Evolution ultimately means lower margins. I don’t think the market believes Apple really is built or comfortable becoming a “Walmart” brand. That means pump out a lot of cheaper phones (see Samsung) made of plastic and crap. Yet if they don’t “revolutionize” but rather evolutionize then they have to start selling cheap stuff too if they want any possible profit growth. The problem is history shows unless you’re a software company (Microsoft) growth in hardware leads to a HIGH risk of future failure (see Dell, HP etc.). I know it’s hard for us to face but Steve was the master of creating the perception of revolution “not” evolution. Whether we like it or not the media, analysts and general public were buying Apple stock not just for the products but Steve in particular. He made them believe the products are magical. Right now we have someone who just doesn’t look comfortable in front of the audience whereas Steve “loved” the audience. Hell he even wrote letters to the “audience too”.