“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
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