“Peter Misek, the top Apple specialist at Jefferies, has taken a lot of heat lately on two fronts: From investors for his bearish stance on the stock, and from the tech press for starting a basket full of Apple rumors that didn’t pan out,” Philip Elmer-DeWitt reports for Fortune.
“But the truth about Misek is that he’s neither a bear nor a bull,” P.E.D. reports. “He’s a just an impressionable guy who likes to travel a lot, reports just about everything he sees and hears, and comes back believing whatever he was told last.”
P.E.D. reports, “Case in point: The report he filed Monday — after his most recent trip to Asia — in which he flipped his Apple recommendation from Hold to Buy and raised his price target nearly 50%, from $405 (one of the lowest on the Street) to an above-consensus $600. The report was a typical Misek travelog, complete with Japanese iPhone 5S availability posters and a trunkful of industry gossip.”
Read more in the full article here.
Related articles:
Jefferies analyst Peter Misek claims Apple’s iPhone 6 will offer a 4.8-inch Retina display – October 7, 2013
Jefferies analyst Peter Misek expects ‘lackluster’ sales of Apple’s iPhone 5C – September 9, 2013
Nutty Jeffries analyst Peter Misek just compared Apple to Blackberry, Motorola, and HTC – March 12, 2013
Egg on their faces: Apple analysts’ iPhone unit sales expectations off by millions – September 25, 2013
Misek should be a politician; he doesn’t have a clue.
That in a nutshell is what’s wrong with the stock market and journalism. No one does any actual investigating anymore. They run with rumors that people take as fact after the read / hear it. How many billions of dollars has this dolt cost investors because of his AAPL rumormongering?
“The truth about Misek is that he’s neither a bear nor a bull.”
Precisely. And it’s because he’s full of and spouts off bull… 😆
Another example of the “incompetent but unaware” syndrome. Many who are incompetent are unaware of it. Seems to afflict analysts in greater proportion than the general population.
Just got home from the dentist where my hygienist told me that she and her husband are using the iPhone 4, and he’s thinking of switching to the Galaxy because all of their friends tell him it’s a much better phone. I told her she and her husband ought to find some new friends, but what’s up with that? How can anyone be so blind to what’s going on in the world? Who cares if Galaxy is a better phone (I’m not saying it is, I’m saying just for argument’s sake)? Would you buy a product made by a company whose only claim to fame is that they are quick to copy success?
I’m always amazed at how little people seem to know about what’s going on in the world around them.
The fact that we read and contribute to MDN means we’re better informed about the activities surrounding Apple, Samsung, et al. I realize that many people don’t read the blogs or news about this technology because they don’t have time, or basically don’t care. What fries me is the picture Consumer Reports paints of all Samsung products, and especially their phones and tablets. They rate them higher than Apple now, and I feel they’re showing bias in their results, by not reporting important facts about the ecosystems and malware…items that should be MAJOR considerations before buying a phone or tablet.
Just point out that there are almost 200 different viruses and trojans out there for Android phones trying to steal their passwords and bank information and none for the iPhone. Keep it basic and simple. That should take care of it.
Hey, if Samsung made a better phone, which also means having a better ecosystem, I’d switch. Apple really doesn’t have anything to worry about because they are *far* ahead.
The whole “copying” thing is for the courts to decide and for companies to settle between themselves. I’m not a big fan of overly protective IP laws anyway.
The firms which employ these analysts obviously don’t care whether they are accurate or not, since you never hear of an analyst being fired for getting it wrong, no matter how badly.
The analyst’s job is simply to “keep the pot boiling” by driving the price up, or down, and keeping the firm’s name in the media.
The trading firms make money on trades. So volatility is the key. The more stocks go uo, or down, the more money they make.
The more “impressionable” you are, or the more unethical you are, the more suitable you are to be an analyst.
And you don’t have to worry about being caught out for telling lies. Your boss won’t fire you and, anyway, its your constitutional right to lie. If you are an American citizen that is. I wouldn’t try this in any other country…
More tech journalist/analyst worthless, unsubstantiated banter. I don’t care which way they sway in the wind. Shut up and let the professionals handle it.
These analysts serve a valuable purpose. They are the canaries in the coal mine, so to speak. They report on collective attitudes toward Apple (in this case), based on whatever message Wall St. is trying to send to the company & it’s leaders. And these messages are in lockstep with the government & what it wants. There’s really very little difference between the two, and hard to tell which is the head & which is the tail.
Anyway, Apple’s being treated all lovey-dovey now – “hold to buy” – because fingerprint ID is out and crackable by the NSA, CIA, PRC, and whoever else working for an acronym.
Protect yourselves.