“It’s not just your perception that Apple can’t catch a break in this unforgiving market,” Mark Hulbert writes for MarketWatch. “It really has been the case that bad news has kept coming — and coming.”
“If history is any guide, this stream of bad news is likely to continue before the outlook for Apple turns up. That’s because analyst revisions tend to come in waves. A downward revision is more likely than not to be followed by another downward revision — and vice versa,” Hulbert writes. “One widely-cited academic study found that analyst forecasts typically reflect just 66% of the information that the market itself has already taken into account.”
“One thing that this focus on analyst behavior doesn’t help us do is determine when Apple’s downward spiral will come to an end,” Hulbert writes. “But you don’t necessarily need to engage in that guessing game. Instead, watch and wait until the analyst downgrade wave begins to turn into an upgrade wave.”
Read more in the full article here.
MacDailyNews Take: Yup.
Like lemmings the so-called analysts dart in unison inside their echo chamber. – MacDailyNews, November 14, 2018