“Shares of Apple Inc. dropped Monday after a pair of analysts reduced their share price targets for the iPod and computer maker, with one citing cuts in iPod production,” The Associated Press reports.
“Banc of America Securities analyst Scott D. Craig on Monday lowered his share price target to $160 from $180. In a note to investors, he cited data from Asia indicating that although production levels are solid for the company’s computers, they are being cut for iPods,” AP reports.
“Also Monday, RBC Capital Markets analyst Mike Abramsky kept his “Outperform” rating for the stock but lowered his price target to $175 from $200. In a client note, he wrote Apple’s multiple valuation has fallen due to economic and growth concerns,” AP reports.
Full article here.
Once again Wall Streets motto “instant gratification takes too long” applies here. What does Apple have to do to get the respect of these MBA dweebs? My money is on Apple maybe there won’t be anymore innovative products this year but you betcha your ass that they will introduce some great new products that will once again have the industry standing on it’s head.
These guys are like the weather scientists who trust reports for their prognostications instead of looking outside!
I was at the Eaton Centre Store here in Toronto yesterday afternoon. I could hardly move. I could hardly get the attention of a staff person. I finally snagged one to buy a MBP. She had a line-up following her around.
The store was so hot that I had to take my hat and coat off.
When I left the store with my new MBP I found myself in a veritable river of other purchasers making my way through the mall.
They can’t keep MB AIR in stock. the manager told me they’re desperate to have iPhones they get asked for by almost every one.
No wonder they have gotten rid of the check-out counter. The line-up would be immense!
Disinformation and FUD spread thick like manure to help manipulate the price downwards. Why? Buy low, sell high!
When will these analysts and other talking heads get tided of this. It is not an iPod count that matters. I would much rather have an Apple customer buy 1 iPod touch for $299.00 than 4 iPod shuffles at $49.00 each!
It is about the cash flow and profits not the item count that drives the stock price!
If you geniuses are so certain Apple is undervalued, go buy Apple stock. Otherwise, STFU.
I’m no financial expert, but it seems to me that these analysts do a lot more REACTING than PREDICTING. When things are going well and all of the press is positive, they all hike up their price targets. Then when things take a dip and the press is negative, they all jump on THAT bandwagon and lower their price target. It’s a joke, who’s leading who? Then they claim that it’s because of perceived softness in iPod and iPhone demand, ignoring the fact that sales of Apple’s bread and butter, the Mac, are booming.
I have to agree with Gman, STFU. I keep reading all you experts here who seem to know how great the stock is. Meanwhile I am sitting on 1k shares I got at $170 before the run up to $201. I for one find even $160 target a pipe dream. Just sayin.
Hoot,
“I for one find even $160 target a pipe dream. Just sayin.”
Based on what? You had your chance to make 30k, and I don’t think that these “Apples not worth it” Analysts have any more brains than you do.
Except that they have a certain amount of control (over the market as a group) and inside info than you or I will ever have.
Now I’m no genius but neither are you or Gman or the analysts
Like I saw Warren Buffet say today, anyone who cares about the daily ups and downs of the market shouldn’t be buying stocks.
I makes me laugh– they move their target to $160, $40 above where it is and it drops anyway. It’s like winning the Olympic gold, but because everyone expected you to be a little better, they kick you off the team.
Wall Street analysts are about as useless as Global Warming scientists. No one knows what the hell is going to happen. You’re an idiot if you believe either.
“Like I saw Warren Buffet say today, anyone who cares about the daily ups and downs of the market shouldn’t be buying stocks.”
He also says don’t touch technology stocks with a 10 foot pole.
And don’t touch stocks where the fundamentals are not there.
Both cautions would apply to Apple.
Glad I bought mine @ $20.
I’m not worried about analysts.
Peter Lynch says you have an edge if you know about a company and it’s products.
I do.
Besides- cash rich & debt free?
Woo- hoo!
the fundamentals are great for aapl
take a look ass-hat
Once again we have people in Wall Street listening to supposedly “educated” analysts. I’d bet that at least 90 percent of these so called informed individuals have never even used a Mac and as usual, we have financial markets running off of Windows. I figure that if the stock holders out there really want to make an impact, they need to wake up the investment community.
Just because Microsoft is cheap right now does not necessarily mean it’s a good buy.
my $.02
The store was so hot that I had to take my hat and coat off.
Been there done that too.
Why should I trust analysts?
RBC had $215 price target back in Dec. AAPL never reached that level before dropping.
They brought up the stock price to make profit for their clients and drove down the price to help the hedge funds. Their existances are not for you and me.
I guess the analysts missed the MDN headline
Fortune: Apple sets gold standard for corporate America
Speaking of iPods, I thought Apple had lowered the price of the 1 GB Shuffle to $49 and added a 2 GB version for $69, yet in yesterday’s Best Buy and Circuit City Sunday paper supplements in Portland only the 1 GB version was advertised, and at the old price of $79! Are they trying to take advantage of people who didn’t hear about the price drop? I wonder…
Warren Buffett has said he doesn’t touch tech stocks because he doesn’t understand computers — he doesn’t buy what he can’t get his noggin around. It’s sound advice, really. With that in mind, I wouldn’t hesitate to buy Apple for myself. You really have to make that decision if it’s a smart one for you.
PS – Buying simply because a stock is “hot” is not investing. It’s speculation and speculators deserve what they get.
Wall Street has concluded that Apple has lost its focus. The question is, is the street correct?
“the fundamentals are great for aapl “
When will you guys ever learn the difference between a great company and a great company which is correctly priced. Apple’s problem is that it had a run up to a price which could not be supported by its fundamentals and once people realized that it dropped like a stone to what is now a more reasonable number.
“Wall Street has concluded that Apple has lost its focus. The question is, is the street correct?”
Not so, Wall street has concluded that Apple will not grow as fast a previously expected. Not that it won’t grow, not that it doesn’t have a great future, but that it wont grow as ridiculously fast as they thought. For a company like Apple where massive year on year growth was expected, this has a huge effect on valuation.
I think things will change when the March quarter results come out in April.
Many analysts won*t be expecting too much due to the ‘recession’, and they*ll be surprised at the extent of Apple’s continuing growth.
“The question is, is the street correct?”
No.
Is MDN blocking some people from adding feedback comments?
Hmmmmmmmmmm…..
U can read the site, but no “MDN Magic Word”.
@ Paul,
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I have has the same problem. I went to another site and came back and the MDN word appeared. Its just internet crap. OR maybe the fact that I am using a PC at work and it just does not like printing out Apple info. LOL
PS. Stock wise. I bought at 129 and 118. Still happy to be on board. Apple will rise — a lot — later this year. Don’t be in such a big rush. Just put the stock away somewhere safe and when it hits 250 or better, just remember that I told you so.
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en
PS NO MDN word below. Just a space to put it. AGAIN. MDN you really need to fix this. I think its cause of the new, auto system when you are login in.