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> The Street’s bullish stance is astonishing considering that some $290 billion of Apple’s market value has been wiped out in just six months. Of the 37 analyst
by joelrunyon 14y ago
> The Street’s bullish stance is astonishing considering that some $290 billion of Apple’s market value has been wiped out in just six months. Of the 37 analysts from major securities firms who follow Apple, none has downgraded the stock to a sell, according to available data from MSN.com. But 25 of them still recommend the stock as a “strong buy” and six others rate it as “moderate buy.” Another six Apple watchers rate the stock as a hold.
One of the chief reasons why these analysts continue to favor the stock is Apple’s huge cash pile, estimated at more than $137 billion, and what the company could do with it to win back the thickening crowd of disappointed and displeased investors. And strong demand for Apple’s innovative products has continued, led by the iPhone and iPad. And speculation persists that soon Apple will announce another new must-have product, which should help the stock recoup its sharp decline.
So essentially, despite no good reasons for the price to drop, the stock price is dropping because analysts are afraid the stock price is dropping regardless of what the company is actually doing. Now, because of that, those same analysts want to get rid of the CEO that basically engineered Apple's ability to make ridiculous margins on through their operating systems efficiency. This is absurd. Does anyone else want these analysts to just shut up?