Bank of America downgrades Apple

“Apple is having a tough time. Shares closed at $114.64 yesterday, basically where they started the year despite rising to $134 in April,” Julie Verhage reports for Bloomberg.

“Bank of America analysts Wamsi Mohan, Ruplu Bhattacharya, and Param Singh sent out a note downgrading shares to neutral and lowering their price target to $130 from $142,” Verhage reports. “The firm listed six key reasons it expects pressure on shares in the short term: 1) iPhone deceleration, 2) a slowdown in China marketshare gains 3) a deceleration in gross dollar profit growth, which is correlated to stock price, 4) A decline in the magnitude of earnings beats, 5) Only modest improvement to the iPhone coming, 6) low likelihood of more capital return plans.”

Read more in the full article here.

MacDailyNews Take: The scam to scare low information investors out of AAPL continues.

This too shall pass.

At the most basic level, it’s extremely simple: Pump, then dump. Foment, then buy. Rinse, lather, repeat as the SEC sleeps. — MacDailyNews Take, April 26, 2012

The facts: Apple sold 47.5 million iPhones in the third quarter, up 35 percent year-over-year. But analysts had expected around 49 million units. Analysts also expected growth of more than the mere 35% that Apple posted (in the June quarter, no less) and wanted guidance of more than $51.13 billion in the 90-some-odd-day quarter prior to holiday shopping season in which Apple’s all-time record for the September quarter, so far, stands at $42.1 billion, but Apple only gave guidance with a top end of $51 billion, not the $51.13 billion for which some analysts had hoped.

This is the basis for all of this “concern” over Apple.

SEE ALSO:
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24 Comments

  1. Apple is having a tough time

    NO.

    Bank of America analysts Wamsi Mohan, Ruplu Bhattacharya, and Param Singh sent out a note downgrading shares

    Yeah, but I wrote off Bank of America before they decided to become crooks in 2007! This is one of the POS banks that was ‘too big to FAIL’ and hounded MY US government for a bailout, aka corporate welfare. To hell with Bank of America. Here they are again pointing out their inadequacy as a bank, lowering expectations from the greatest company on the planet who has had nothing in recent YEARS but continuous, reliable growth. Dunderheads much?

  2. On $AAPL, do opposite what idiotic anal-syst said. When they upgrade, sell; when they downgrade, buy. Suppose now $AAPL is bearish because it crosses so called “moving average”, but if you bought at today’s opening, you’re good now.

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