“Apple Inc. shares were marked modestly lower in premarket trading Wednesday following a downgrade from Longbow Research on concerns over the depth of demand for its flagship iPhone X,” Martin Baccardax reports for TheStreet.
“Longbow analyst Shawn Harrison said the anniversary edition of the iPhone, which has a list price of $999, has seen ‘lukewarm’ reception from customers and called the current cycle of overall iPhone sales ‘good, not great,'” Baccardax reports. “Harrison also clipped his earnings per share estimate for the world’s biggest tech company by 29 cents to $11.25 and pegged his fiscal year shipment forecast at 233 million units. Longbow’s rating on the stock was reduced to ‘neutral’ from ‘buy.'”
Baccardax reports, “Apple slipped 0.27% in premarket trading in New York, indicating an opening bell price of $175.72 each, a move that would trim its three-month gain to just under 10%.”
Read more in the full article here.
MacDailyNews Take: We’ve covered Apple extensively for well over 15 years. A search of our database of over 62,000 articles covering Apple Inc. for “Shawn Harrison” yields zero (0) results.
If you want to base your stock buying and selling on a no-name analyst, perhaps you should just burn your money instead. At least you’d get a brief bit of light and heat from it as opposed to nothing at all.
If Mr. No-name can somehow manage to knock shares down a tad, thanks for the pre-blowout earnings AAPL sale!
BUY BUY BUY! The earnings call will straighten this all out and AAPL will move back up…
On Wednesday AAPL hit an all-time intraday high of 179.39.
MDN, you need to look a little further than your own bubble of information.
MDN is a great place to get aggregated Apple/AAPL news. It’s a horrible place to get intelligent commentary.
I don’t care if it’s George Harrison. It must suck for these guys to be wrong all the time about Apple.
Isn’t he dead?
We should check with Paul or Ringo…
Yes because any living Beatle would probably read the stock market better than these usual gang of idiots.
That’s why it’s called gambling!
Wonder if this one has legs…
Will “lukewarm” become the new overused term over “beleaguered”? Either way, inquiring minds don’t give a shit.
It’s the economy stupid.
Too bad about your search results.
I actively track 39 analysis that cover Apple/AAPL. Shawn Harrison’s current price target (which did not change) is $192 made 4 months ago (September 12, 2017). That would make Harrison an AAPL Bull by any definition of the term.
Oldest play in the book. https://seekingalpha.com/article/30257-jim-cramer-admits-to-stock-manipulation-when-at-hedge-fund
Trading Places. I always loved that film, especially the young and vivacious Jaime Lee Curtis. Too bad she’s a card carrying libtard, but I’d still tap that.