Henry Blodget: I’m selling my Apple shares

The Financial Times reports that Apple will have sold more iPhones during the last quarter in China than in the U.S. Using analysis by UBS, The Financial Times says China accounted for 36% of iPhone shipments compared to 24% here. A good showing in China could help calm fears that Apple will have trouble selling phones in emerging markets,” Joe Belfiglio reports for Yahoo Finance. “Yahoo Finance contributor Henry Blodget says China sales are key. ‘If it is true that Apple has sold more phones in China, that’s huge. If they can hang out at that high-end and there are enough people in China who are rich and want Apple and can see the value… they can sell a boatload of them.'”

“Blodget says he’s thinking about selling the stock. ‘I think I probably will sell. I don’t know if it will be before the quarter or after the quarter. I’ve had it for a couple years now. It’s been a wonderful run. I just worry we go into a period in which it moves sideways for a while,'” Belfiglio reports. “Shares of Apple have increased more than 40% over the last year.”

Belfiglio reports, “Blodget says Apple’s iPhone 6 is so good that it may deter people from upgrading. ‘My concern is after this. You can’t see the reason for upgrading. It’s a huge jump in terms of the size. Everybody wants bigger screens and they delivered that. Going forward in smart phones it’s going to be incremental improvements. You can’t make it much thinner and lighter.'”

Read more in the full article here.

MacDailyNews Take: Oh, ye of such little imagination and as if Apple’s quest for sapphire and explorations of Liquidmetal, for just two examples, haven’t been extensively documented.

23 Comments

  1. Yes, sell AAPL because “iPhone 6 is so good.” Only buy stock in companies that make sucky products. I suppose such “reasoning” makes perfect sense, to a typical Apple “analyst.”

  2. Nice. So while Henry “the iPhone is dead in the water” Blodget was writing Apple-bashing articles, he was also long the stock and enjoying its run…

    1. The self-same one, ottawamark!

      “The Securities and Exchange Commission, NASD and the New York Stock Exchange Permanently Bar Henry Blodget From the Securities Industry and Require $4 Million Payment.”

      “Blodget is now the editor and CEO of The Business Insider, a business news and analysis site, and a host of Yahoo Daily Ticker, a finance show on Yahoo. He is permanently banned from involvement in the securities industry.”

      *SEC. Retrieved 2007-04-21.

  3. He’s full of it. He’s hoping others will sell so he can buy more on the cheap and make even more money. Don’t fall for it. Oh and Apple makes more products than just phones Henry.

  4. This is the narrow-minded mentality of an Apple investor. The company has a good run, so you dump the stock because future gains MAY NOT be good enough. If this is how Apple investors think, then something is really wrong with America. Short term gains are all that matter nowadays. Forget supporting a good American company and look out for #1.

    Again this pattern of because Apple builds good products made to last, it turns into a negative thing. These people would rather invest in companies with cheap disposable products in order to constantly churn sales. That’s just too stupid. Why would any sane consumer want to own disposable products like that?

    1. Who he is: He was banned from working on wall street as part of a settlement with the SEC after the indicted him for fraud and insider trading. He also had to pay a $2 million fine. Now he writes a financial column for Yahoo.

      Why should you care: Fuck if I know. But it’ll be funny when MDN iCals this and reposts it in 2016 when AAPL is north of $200.

  5. why do analysts so easily question apple’s ability to retain customers and grow their customer base? Look at the customer satisfaction surveys and the sales patterns and draw some more likely conclusions. playing contrarian for the sake of being a S&$t*#k doesn’t help anybody.

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