Jefferies' Peter Misek seems to be the sole sell-side analyst to downgrade Apple (AAPL -9.9%)...


Jefferies' Peter Misek seems to be the sole sell-side analyst to downgrade Apple (AAPL -9.9%) today. "[The] slowdown in iPhone sales is real ... it appears that demand in the second half of the quarter and into CQ1 was much weaker than management or we expected," wrote Misek as he cut shares to Hold. ISI is lowering its PT to $600 from $710, but thinks a cheaper iPhone can right the ship. Topeka (previous) and Canaccord hold out hope an iPhone refresh will arrive in 1H. CRUS -8.4%. (more) (transcript) Update: Scotia Capital and Hilliard Lyons have joined Jefferies in downgrading Apple.

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Comments (17)
  • SoldHigh
    , contributor
    Comments (991) | Send Message
     
    Smart money has been bearish on AAPL stock since it stalled out around 700. Anyone who's been reading my posts on AAPL knows I've been calling for lower for a while now.

     

    These herd-mentality analysts give yesterday's news and get paid for it - amazing.
    24 Jan 2013, 11:08 AM Reply Like
  • tigersam
    , contributor
    Comments (1707) | Send Message
     
    Netflix came with earnings $0.13 and stock went up by $38. Apple came with earnings $13.65 and stock went down by $52. May be Apple should have come with earning $0.13 and apple would have moved $50 up.
    24 Jan 2013, 11:34 AM Reply Like
  • bobbobwhite
    , contributor
    Comments (2137) | Send Message
     
    Apple knew it had to beat handily to stop the last 2 quarter's bleeding. It didn't, and from that I am not convinced Cook is the man to run it. He seems weak and is such a departure from Jobs that I cannot believe Jobs picked him to run Apple. Nice guys finish last as CEO's and Cook may be too nice, and weak, to last as Apple's CEO.

     

    Also, Apple really needs to spend some of its cash hoard buying a top company in a fast growing industry, such as 3D printers, or even Pixar, now that mobile devices have peaked. A jump start into different tech is needed to survive long term.
    24 Jan 2013, 12:05 PM Reply Like
  • stevesko
    , contributor
    Comments (63) | Send Message
     
    I dont know where you get that mobile devices have peaked... IPhone sales up 27% Ipad 50 something %.
    24 Jan 2013, 12:22 PM Reply Like
  • danzada
    , contributor
    Comments (139) | Send Message
     
    This is what baffles me... Apple grew iOS devices sold by A TON. Any other company would KILL for this growth. Yet somehow they've peaked? Lol?

     

    Did we switch to a different form of math overnight? I'm seriously at a loss.

     

    Acounting for the extra week last year, Apple still grew earnings 13.5%... Find me a stock that grew at 13.5% with supply constraints at a 7 P/E ratio ex cash.
    24 Jan 2013, 01:02 PM Reply Like
  • TwistTie
    , contributor
    Comments (2429) | Send Message
     
    If you didn't know anything, AAPL would look just fine.

     

    It certainly looks good to me.
    24 Jan 2013, 12:25 PM Reply Like
  • tigersam
    , contributor
    Comments (1707) | Send Message
     
    Everybody on the street treating Apple like Enron. People forgets this company just made $53B in revenue. I am not why people are comparing old Microsoft, Cisco and other Internet companies to Apple. Cisco used to trade 180 time earnings and Microsoft used to trade 60 times earnings. Even at $700 stock price it is trading at 11 PE.
    24 Jan 2013, 12:28 PM Reply Like
  • scott trader
    , contributor
    Comments (6973) | Send Message
     
    Aapl should have bought nflx pre Icahn. My Father used to say sometimes you have to so something even if its wrong,,,,,,Cook do something! Say something! Buy back shares today! Show us some confidence!
    24 Jan 2013, 12:31 PM Reply Like
  • danzada
    , contributor
    Comments (139) | Send Message
     
    AAPL can still buy NFLX and barely put a dent in its cash.
    24 Jan 2013, 12:57 PM Reply Like
  • seymour2
    , contributor
    Comments (152) | Send Message
     
    The logical move for aapl is to swallow hard and buy rim from their pocket change. The boost for their technology, presentation, and forward looking revenues would enable them to retake the first position now moving away from them at light speed. However, my reading on their corporate culture presents such a blinkered and hugely egoistic and arrogant picture, that they wont do that. Believe me, there are many who work in this IT industry who love to see the over-prideful appl stumble and fall on their collective butt. Having worked for large corporations, I learned that their prime objective is not the ostensible one of making money for their shareholders, it is rather for the preening and ego stroking of senior managers and boards. They would rather see the company go down than admit that others discovered what they wish they had, but didnt.
    24 Jan 2013, 01:20 PM Reply Like
  • JUDOKA
    , contributor
    Comments (404) | Send Message
     
    The AAPL conference call yesterday did little for clarity or confidence.Do not even try to make sense of the AAPL/NFLX paradox.
    24 Jan 2013, 01:44 PM Reply Like
  • pfbsurf
    , contributor
    Comments (142) | Send Message
     
    well, there is now blood in the streets.
    24 Jan 2013, 03:04 PM Reply Like
  • apple bull
    , contributor
    Comment (1) | Send Message
     
    This guy shouldn't be allowed to give investing advice again. Analysts are the most unreliable source of investing information out there. One minute they're bullish, the next they're slashing their target prices and still getting paid for it!
    24 Jan 2013, 03:07 PM Reply Like
  • Jerry Far
    , contributor
    Comments (3) | Send Message
     
    The fall of Apple's price has no rational .. I suspect that there is a lot of price manipulation going on and the SEC should investigate.
    24 Jan 2013, 03:08 PM Reply Like
  • chly2609
    , contributor
    Comments (9) | Send Message
     
    last week on 1/17/13 jefferies cut CREE to underperform from buy
    price target to $28 from $30. Today's CREE's high was $ 41.42

     

    Now you are manipulating Apple?
    Your company is a shill operation.
    24 Jan 2013, 03:29 PM Reply Like
  • rperson
    , contributor
    Comments (361) | Send Message
     
    For the sheer sake of speculation and discussion. One or all of these things happen in the next 3-6 months:

     

    - Apple announces a $50 billion stock buy back for 2013
    - Tim Cook announces the China Telecom deal
    - The stock dividend is increased from $2.65 to $5.00 per share
    - Apple TV
    Any one or all these things are possible. So...is "investor sentiment" so negative against Apple that any of the above doesn't matter? Or is this whole bloody thing rigged and manipulated and speculation is pointless?
    24 Jan 2013, 04:10 PM Reply Like
  • Remyngton
    , contributor
    Comments (343) | Send Message
     
    AAPL ..... - $ 250 / share from the peak

     

    AND ,

     

    now they downgrade it ?!?!?!?

     

    CHIMP CITY
    24 Jan 2013, 04:25 PM Reply Like
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