“As someone who has been tracking the forecasts of Apple (AAPL) analysts for nearly five years, I was not entirely surprised to learn that when 365 sell-side analysts (not just covering Apple) were asked what factors affected their compensation, the accuracy and timeliness of their earnings forecasts came in dead last,” Phillip Elmer-Dewitt reports for Fortune.
“This revelation comes from a survey conducted by a team of business school academics and posted online last month by Social Science Electronic Publishing,” P.E.D. reports. “Among its other findings: 81.5% named hedge funds as their employer’s most important clients; 13% named retail clients.”
Read more in the full article here.
MacDailyNews Take: As we wondered on April 9th:
“Who’s got less accountability, TV weathermen, Wall Street ‘analysts,’ or ‘upstream component suppliers’ cited by DigiTimes?'”
Do Apple analysts serve the broker or investor? – April 23, 2013