Raymond James analyst downgrades AAPL over Apple Watch ‘concerns’

“Apple Inc. was downgraded at Raymond James, which cited worries that the much-hyped Apple Watch, which became available for sale on Friday, won’t meet investors’ high standards for the technology giant’s new product launches,” Tomi Kilgore reports for MarketWatch.

“Analyst Tavis McCourt lowered his rating to market perform, after being at outperform since Jan. 28, 2014,” Kilgore reports. “McCourt is concerned that Apple Watch will fall ‘far short of the ‘insanely great’ benchmark,’ which could make it increasingly difficult for Apple to maintain the current pace of year-over-year growth in profit and sales.”

MacDailyNews Take: “The ‘insanely great’ benchwhat?” Sounds like ginned up bullshit to us.

“‘Although the financial impact of the Apple Watch is almost immaterial near term, we are concerned that relatively muted reviews so far could place added fear in investors’ minds about the company’s ability to launch successful new product categories,’ McCourt wrote in a note to clients,” Kilgore reports.

Read more in the full article here.

MacDailyNews Take: Yup, ginned up bullshit it is.

See also: Tavis McCourt can’t read, cuts Apple price target – January 3, 2012

Related articles:
Apple Watch draws strong turnout at Apple Retail Stores – April 10, 2015
The 2:26 Apple Watch review (with video) – April 9, 2015
Tech.pinions’ Ben Bajarin reviews Apple Watch: ‘Powerful’ and ‘completely new’ – April 8, 2015
WSJ’s Stern reviews Apple Watch: ‘Good looks and coolness’ – April 8, 2015
The Verge’s Patel reviews Apple Watch: ‘A masterpiece of engineering’ – April 8, 2015
WSJ’s Fowler reviews Apple Watch: ‘The first smartwatch worth buying’ – April 8, 2015
Yahoo Tech’s Pogue reviews Apple Watch: ‘Magical’
New York Times’ Manjoo reviews Apple Watch: ‘A power you can’t live without’ – April 8, 2015
Bloomberg’s Topolsky reviews Apple Watch: ‘The world’s best smartwatch’ – April 8, 2015
USA Today’s Baig reviews Apple Watch: ‘Second to none; I want one’ – April 8, 2015″>Daring Fireball’s Gruber on a week with Apple Watch – April 8, 2015
Tech.pinions’ Ben Bajarin reviews Apple Watch: ‘Powerful’ and ‘completely new’ – April 8, 2015
WSJ’s Stern reviews Apple Watch: ‘Good looks and coolness’ – April 8, 2015
The Verge’s Patel reviews Apple Watch: ‘A masterpiece of engineering’ – April 8, 2015
WSJ’s Fowler reviews Apple Watch: ‘The first smartwatch worth buying’ – April 8, 2015
Yahoo Tech’s Pogue reviews Apple Watch: ‘Magical’
New York Times’ Manjoo reviews Apple Watch: ‘A power you can’t live without’ – April 8, 2015
Bloomberg’s Topolsky reviews Apple Watch: ‘The world’s best smartwatch’ – April 8, 2015
USA Today’s Baig reviews Apple Watch: ‘Second to none; I want one’ – April 8, 2015

33 Comments

    1. Right there with you, Bill. My wife and I have 39,900 AAPL shares, from an original purchase of 1400 back in the late 80s. Three splits later (x2, x2, x7) + 100 bought about five years ago . . . and we’re good to go for life. Believe and hold, believe and hold.

    1. I suppose it depends on what you consider ‘sold’ means. Since pre-orders are what is currently being counted and no charges have been processed and no product shipped yet I would not say ‘sold’. Usually ‘sold’ is the completion of the process and it happens the same day/time for retail but in this case it’s all pre-sale where at best CCs have been authorized to receive the charge but have not yet been charged. Quite a few things like charges not going through, lost shipments, returns due to damage in transit or non-obvious manufacturing defects, etc. Come April 24 all shall be settled. At present Apple has gotten customers for the Apple Watches they have available, none of which can yet be said to be ‘sold’.

  1. Come on. Ginned up? Let’s be honest folks. The reviews were interesting and balanced and essentially said to a person that the Apple Watch is:

    1)Tricky to get used to;

    2) Kind of annoying at times because a) you can’t glance at the watch and know the time, b) notifications tend to vibrate your wrist off until you work to tame them, and c) the speakerphone is really quiet;

    and 3) It gives the sense that amazing things are coming, but for now more of a luxury device than a must-have world-changer (your world, not THE world).”

    And they sold out in ten minutes, at which time the waiting time went to 4-6 WEEKS.

    All of that says to me that this will be a slow road forward. It will all be fine, sure, but there’s no sense that a fire has been lit under the populace or under the Apple stock.

    1. Y’know, this whole “tricky to get used to” claim from reviewers is B.S.

      Why doesn’t anyone mention the oh-so-easy-to-learn BMW iDrive? Has that dissuaded people from purchasing a BMW? Do people complain about the high cost of the car and the “difficulty” involved in mastering the control center? And this really isn’t a BMW iDrive-specific thing. Most new cars have extensive control capabilities in their dashboard systems. Which means there will be a “learning curve.” Just like the Apple Watch. If you’ve never used it, you need to become familiar with it. If you want an uncomplicated dumb watch, buy a Timex!

      You’re correct, this will be somewhat of a low start until there are more Watches in the wild, people have a chance to experience the device, developers begin to flood the marketplace with cool apps and Apple updates the OS to maximize the efficiency of the apps.

      Overall, I’m betting (having bought a Watch) that this will be major product for Apple.

        1. Which is exactly why Apple has set up its Apple Store purchases the way it has – no walk-in purchases, you need an appointment so you can be shown the Watch and how it operates.

          Just like the iPhone (OMG, there’s only one button!!!!), the interface is just different from what people have used, so it takes a little to learn it. But it’s intuitive and flows well, so once you understand it, operating the Watch is a piece of cake.

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