Last August, we told you flat out that Goldman Sachs’ analyst Rod Hall is an awful Apple analyst and wrote, “A random number generator would be a better predictor of Apple share prices than Goldman Sachs analyst Rod Hall.”
This wasn’t our first critique of Rod, who seems to have graduated from the Laura Goldman School of Apple Analysis:
Given his limited reasoning capabilities, we doubt that, if pressed, Rod Hall would be able to analyze his way out of a wet paper bag. — MacDailyNews, July 17, 2019
Longtime readers might remember Laura Goldman. She put a “Sell” on “Apple, the company that created the iPhone” back on May 21, 2007. Apple shares closed that day at $3.44 (adjusted for both dividends and splits). Good call, Laura!
Finally, many years and many lost dollars late, Rod seems to have miraculously stumbled upon a clue.
“We are upgrading our rating from Sell to Neutral after Apple posted another large beat and implied a raise vs. our June revenue expectations. Our original view that the iPhone cycle would disappoint in the midst of COVID was clearly wrong. Not only has Apple done better than we expected on iPhone during the cycle but Mac and iPad have also materially outperformed our forecasts,” analyst Rod Hall said in an early morning note Thursday after Apple’s second quarter earnings.
Hall acknowledges that since he placed Apple’s stock on Goldman’s closely watched Americas Sell List on April 16, 2020, shares have surged 86%.
MacDailyNews Take: 🙄 Don’t take Apple investment advice from anyone with “Goldman” on their business card.