Apple falls following BTIG analyst’s target price cut; sees possible 4% revenue decline

Apple is off in trading today following a note from BTIG analyst Walter Piecyk, who cautions that a return to revenue growth could be delayed until fiscal 2017. Piecyk claims Apple may report a 4% revenue decline this year.

“Piecyk maintained a Buy rating for the company, while reducing the price target from $141 to $130,” Monica Gerson reports for Benzinga. “Piecyk mentioned that the positive rating reflected the stock’s valuation, anticipation for the next product announcement and low Street expectations for the March quarter.”

“Pierck expressed caution regarding a potential structural change in the replacement cycle of Apple’s existing users,” Gerson reports. “‘It will take a few quarters and the launch of the next iPhone to confirm if end users are, in fact, holding onto their phones longer,’ the analyst added.”

Read more in the full article here.

MacDailyNews Take: Yet another “analyst” who does not understand Apple, unlike Needham & Co.’s Laura Martin.

Analyst thinks Apple shares could soar 60% – April 7, 2016
Demand for Apple’s new 4-inch iPhone SE continues to outstrip supply resulting in stock-outs, shipping delays – April 7, 2016
Needham: Apple an ‘arms dealer’ to ‘the wealthiest’ consumers; ‘Strong Buy’ recommendation – April 6, 2016
How the annual iPhone Upgrade Program impacts Apple’s financials – October 8, 2015


  1. this guy comes out with the above while “Apple’s new 4-inch iPhone SE “4-inch iPhone SE continues to see demand outstrip Apple’s available supply, with most stores completely out of stock (MDN Article today ) “.

    no point saying ‘stupid analysts’ etc, it’s like getting mad at the rain or sand flies ….

  2. Don’t over think it. Apple is also off today because …the entire market is off today. Duh!

    I hate these short-term cause-and-effect inferences made by ignorant people.

    1. You are correct. AAPL is down today because the ENTIRE market was down.

      While you may hate short term cause-and-effect inferences, I hate the quality of blogosphere reporting on AAPL overall.

  3. News filler.

    Why not say AAPL falls in spite of Laura Martin’s very positive forecast?

    There’s random variation in the market. But it’s human nature to try and explain what just happened by what happened a little bit before. AAPL’s down tand this negative report must be why.

    That type of reasoning, that what happened just now was caused by what happened before, had early man believing the sun and the planets revolved around the earth for thousands of years.

  4. Who is this Walter?

    Man, he has that pounding power over these anals… Will it be another 2015 where Apple outstanded everything but WS denied everything…

    God damnit! How can this non sense stop.

  5. As another poster has said here on MDN in the past, buy the products, NOT the stock. The worst thing that can happen to any companies, teams, entertainers, politicians, or the like is to become #1 in their field: they go from leader to target in a heartbeat. No matter what is said to the contrary, people eventually loathe a consistent winner, and Apple is the latest example.

  6. I believe Apple currently is a good and safe investment but definitely not a great investment. Even today with its relatively low P/E, Apple got hammered as much as any tech stock with 3X the P/E. It just shows how weak a stock Apple is. Hopefully, Apple purchased some of those sold-off shares. No point in crying about it. Tears aren’t going to boost Apple’s value. It’s OK as long as you don’t compare Apple to other similar tech stocks. Just focus on Apple, take the dividends and you’ll feel a lot better.

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