A a new video for TheStreet, Jim Cramer points out that Apple analysts were wrong.
The analysts all decided [iPhone 3-day weekend sales total] was going to be 5 million. I don’t know how they got that, so suddenly it’s [actually] 9 million, which means the estimates are too low. So there will be a series of – the same people who maybe downgraded it a few weeks ago now have to upgrade it. But everybody’s got to raise [their] numbers; [the] numbers are too low, if numbers are too low, the stock is going to finally break through that ceiling… This could be the launchpad.
Full video here.
MacDailyNews Take: The analysts got their numbers from the same place they usually do: From whence the sun don’t shine.
Related article:
Apple destroys smartphone sales record: First weekend iPhone sales top nine million units – September 23, 2013