Pac Crest joins the rush, cutting Apple (AAPL) to Sector Perform with fair value of $440-$550,...


Pac Crest joins the rush, cutting Apple (AAPL) to Sector Perform with fair value of $440-$550, noting high-end market saturation and waning demand for incremental hardware innovation. Piper's Gene Munster holds the line, reiterating his Buy and a $875 target. Shares +1.4% premarket.

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Comments (27)
  • pagreen1966
    , contributor
    Comments (661) | Send Message
     
    These analysts do not lead the market but follow it. Cory Johnson on Bloomberg West said a few weeks ago in a mocking tone that analysts merely look into the rear view mirror when it comes to Apple stock. Back in September when they saw it was rising fast they increased to targets to $800-$1,000.

     

    3 months later they look into their rear view mirror and see the stock tanking and lower their estimates to $450 - $700. In other words they are a waste of space.

     

    If any of you are considering buying (AAPL) then do it now because next week it will start its next leg up!
    16 Jan 2013, 08:16 AM Reply Like
  • wiesje
    , contributor
    Comments (2846) | Send Message
     
    not according to the " eliott wave theory " ( the best technical stock analyst book ever written ) - this is the 2nd leg down ,which could be followed by a small bounce back up form 485 to 525 and then followed by the 3rd wave down to the low 400's , that is the final one - than the bear-move is over, the " fast-money" will have cashed in and they leave this stock alone. ( notice up days smaller volumes than down days ) good luck with your buying , though.
    16 Jan 2013, 08:57 AM Reply Like
  • danzada
    , contributor
    Comments (137) | Send Message
     
    My technical indicators are all pointing up right now.

     

    Also: Technicals have way less predictive value during earnings season.
    16 Jan 2013, 09:35 AM Reply Like
  • wiesje
    , contributor
    Comments (2846) | Send Message
     
    that's the small bounce i am referring to and we have just opened , there is no guarantee we will be up at the close.
    16 Jan 2013, 09:38 AM Reply Like
  • Somporn Suksi
    , contributor
    Comments (125) | Send Message
     
    Ooh, the Theory. And my horoscope for today said I'd have lots of energy since the moon is in Aries. Technical analysis is stargazing at best - confirmation bias on anything that fits the 'pattern', and ignoring or dismissing anything that doesn't.
    16 Jan 2013, 10:17 AM Reply Like
  • pocohonta
    , contributor
    Comments (661) | Send Message
     
    There is some merits to technical analysis but you just have to use it properly and realize its limitation and when to use it to increase the "probability" of wins. "May the odds be ever in your favor" : )
    16 Jan 2013, 10:28 AM Reply Like
  • rocback
    , contributor
    Comments (1098) | Send Message
     
    I just got this note from Morgan Stanley this morning that they dismiss concerns about supply cuts as "overblown" and merely typical seasonal cuts. they say Apple stock price could reach "$980 if shipments top expectations".
    16 Jan 2013, 11:05 AM Reply Like
  • Tusc
    , contributor
    Comments (326) | Send Message
     
    Yes,EWT says that. Could they be wrong ? Could the earnings call blow it away ? The end of next week answers the question.
    16 Jan 2013, 11:13 AM Reply Like
  • wiesje
    , contributor
    Comments (2846) | Send Message
     
    hey good to see your back, but then it is an up-day, a whopping 20 $ after having dropped 220 $ from the top.
    16 Jan 2013, 11:29 AM Reply Like
  • Somporn Suksi
    , contributor
    Comments (125) | Send Message
     
    If I were richbar I'd be saying to you, "oh now, you said there 'is', when it should be there 'are', so I place no credibility in your posts..." etc. ;)

     

    However, it is me, and I think technicals are stargazing. Yes, market sentiment and behavioral finance are extremely important in investing, and trends with that in mind cannot be ignored, but I don't believe that these cup-and-handle, head-and-shoulder, triangle-this, cross-that, etc. are anything other than an attempt to somehow find "patterns" in what is more or less random movement - and the confirmation bias, and selective information, dismissing of the anomalies, etc. are classic cognitive distortions that the chartists display. Whatever - hey, they gotta make a buck too I guess.
    16 Jan 2013, 01:50 PM Reply Like
  • Steve Walkman
    , contributor
    Comments (139) | Send Message
     
    What indicators, Danzada?
    16 Jan 2013, 02:43 PM Reply Like
  • kennetj
    , contributor
    Comments (21) | Send Message
     
    I hope you are right, history favors ^ ^ ^ and away. But I'm bugged by that gap down around 425 - 440. Don't know when but I'll BET it gets filled sometime. Should it get there, AAPL at 425 would be an Absolute Steal.
    17 Jan 2013, 04:30 AM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
     
    Don't be sad... but so far, Eliiot Wave Theory is right on target... :-P
    27 Mar 2013, 05:06 PM Reply Like
  • rfalik
    , contributor
    Comments (12) | Send Message
     
    I wonder if aapl's eps comes in at $14.50 or 15.50 per share if they will all revert and follow Gene Munster. I am betting they will. They cant nail this company. Its a hard stock to trade you must be an investor and deal with the ups and downs . This company makes the best products on the market and thats why people come back. My guess if they start to make products that fail and act like windows then we will see a big decline. Also having a Samsung phone is like having a honda accord its nice but its not a Porsche!
    16 Jan 2013, 08:43 AM Reply Like
  • riyajain2727@gmail.com
    , contributor
    Comments (120) | Send Message
     
    Couldn't agree more. Not too late yet to upgrade RIMM. Please don't wait for the stock to reach US$50 before upgrading!
    16 Jan 2013, 08:47 AM Reply Like
  • Davy Crockett
    , contributor
    Comments (161) | Send Message
     
    RIMM is finally giving us something to get excited about after nearly two years of delays. Based partially upon that sorry record, I'm staying invested in AAPL for now.
    16 Jan 2013, 11:36 AM Reply Like
  • Applocrat
    , contributor
    Comments (1005) | Send Message
     
    The lesson I've drawn from this is that there aren't many analysts There are really only one or two leaders of the pack whom thevrest follow.
    16 Jan 2013, 08:58 AM Reply Like
  • milehr
    , contributor
    Comments (679) | Send Message
     
    Why would anybody listen to those "analysts", other than buying on their downgrades and selling on upgrades?
    16 Jan 2013, 09:56 AM Reply Like
  • pocohonta
    , contributor
    Comments (661) | Send Message
     
    The analysts with the most credibility are the ones who's been following Apple and its industry for years, not these new-comers. The long-time analysts are the only folks Apple will call on during the Q&A sessions at next week's earning conferences. Gene Munster in particular is one that always get to ask and his questions are insightful, yet politically correct.
    16 Jan 2013, 10:34 AM Reply Like
  • samimolly12
    , contributor
    Comments (15) | Send Message
     
    I am disgusted with all the comments from supposedly intelligent people. I have discounted the nay Sayers and am betting that Apple's earnings will blow away the market.

     

    It is disappointing that there is so much negativity on this company and the people at Apple do nothing to deny or confirm. It is a very difficult stock to own, but I cannot bet against Apple.
    Richard
    16 Jan 2013, 10:51 AM Reply Like
  • Tusc
    , contributor
    Comments (326) | Send Message
     
    SEC regs don't allow commentary from companies during the "quiet period" prior to earnings. Ya I get the frustration, but rules are rules.
    16 Jan 2013, 11:17 AM Reply Like
  • no one really
    , contributor
    Comments (141) | Send Message
     
    From what I'm seeing, it's not really a rule, but a custom.

     

    Apple, on the other hand, doesn't seem to respond to rumors. Unless they do, like saying that they're never going to make a cheap computer/iphone/tablet... while at the same time they're figuring out how to go after that market with a quality product that isn't quite in the cheap price range, but sorta is if you squint and look at it funny.
    16 Jan 2013, 11:39 AM Reply Like
  • rocback
    , contributor
    Comments (1098) | Send Message
     
    Morgan Stanley reports this morning that supply cut info was overblown and typical seasonal variations and that if shipments top expectations the stock price could hit $980.
    16 Jan 2013, 11:07 AM Reply Like
  • wiesje
    , contributor
    Comments (2846) | Send Message
     
    is the " whale " back at the trading desk at JPM ?
    16 Jan 2013, 11:15 AM Reply Like
  • Davy Crockett
    , contributor
    Comments (161) | Send Message
     
    What's the point of issuing a ratings change one week before earnings are released? We're all in the dark at this point, and only a fool would make an investment decision based upon this Pac Crest ratings change.
    16 Jan 2013, 11:19 AM Reply Like
  • Somporn Suksi
    , contributor
    Comments (125) | Send Message
     
    Where's Pac Crest based, SF? They're probably all stoned. "Dude... it's JANUARY 16, not December!!.. what are you doing, changing ratings now?.... you forgot to change the calendar duuuuude!.... ok now where's the next batch of schwag?..." Actually I see their HQ is in Portland OR - even better... all organic stuff I assume!...
    16 Jan 2013, 01:52 PM Reply Like
  • wiesje
    , contributor
    Comments (2846) | Send Message
     
    wooow - have a drink, relax , get a Thai massage - are you Ok ?
    16 Jan 2013, 04:18 PM Reply Like
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