Andy Hargreaves, Senior Research Analyst, Pacific Crest Securities
Perhaps I missed it, what was it in the last nine months that transformed Apple from the most valuable and vibrant company in the world, to one that is vulnerable to 2nd rate competitors and losing credibility. Is Apple in need of salvation, or a miracle product or service, that only a broker analysts or Wall Street juggernaut can conjure?
Or, have all of Apple’s problems been nothing more than the figment of analysts’ imaginations, from the hype that elevated the stock to the stratosphere, to inventing products that never existed, or the image they think the iMaker should portray? Well, it is clear that analysts created the hype, which manifested itself into unreal expectations and investor woes, and now they pose the means of salvation to a problem that never existed, one they created.
A late-September launch of an iPhone 5S and a redesigned iPhone 5… could improve investor sentiment around AAPL.
Andy Hargreaves
The reason for this rant is that I see more of the same. For example, I see analysts like Andy Hargreaves setting Apple up for another fall if Apple doesn’t meet his expectations of an iPhone refresh in September, he even picks a specific date, the 20th. Mr Hargreaves deserves special recognition because he has the dubious distinction of being the first analysts to downgrade Apple back in January, then many other analysts soon followed Hargreaves actions when they saw the huge media attention such bold predictions would get them.
Am I being too cynical?
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