Steven Milunovich, Analyst, UBS
There is now apparently universal agreement among analysts fantasies that Apple will introduce a low-cost iPhone in order to recoup marketshare lost to Samsung over the past year. There is also a universally shared delusion that the iPhone will eat into Apple’s margins, however the expected increase in marketshare will help keep Apple price targets steady. Some analysts, the bullish ones like Tavis McCourt, have even upped their target price for Apple stock.
There is one problem though. None of the analysts can agree on the name of the new iPhone. Will it be C for Cheap or Color, or will it be S for Speedier or Shoddy? No one can seem to a agree, there’s a rift in the reality distortion field.
But their is one analysts willing to go out on a limb and designate the new iPhone as the iPhone M. But no one is quite sure what the M stands for. Could it be Marvelous, or Magnificent? The analysts to suggest this bizarre moniker is Steve Milunovich, a long time Apple bear. In an investor note, Steve calls it the iPhone M, but no where can we find what M stands for. Very weird that Mr. Milun…hey, wait a minute! Could it be that the “M” stands for Marketshare, or Margin, or Milu…?
Hey, I think I know what it stands for, but Steve wouldn’t be so brazen, would he? To name a phone after himself? Well, maybe so,,,so let’s go with that. The new iPhone M, where M stands for Moron.
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