Seeking Alpha

Apple (AAPL) is upgraded to Buy by BTIG's Walter Piecyk, who makes the move acknowledging the...

Apple (AAPL) is upgraded to Buy by BTIG's Walter Piecyk, who makes the move acknowledging the company is set to report an ugly Q1 miss and soft guidance. Piecyk notes he made his April 2012 downgrade ahead of what was surely going to be (and was) a blowout quarter. Shares +1.1% premarket.
Comments (14)
  • You must be kidding, an analyst finally upgrades the greatest American company on planet Earth. What is he thinking? Perhaps, he's ahead of everyone else and expects AAPL to "shine" again despite all of the negative news. What a "brave" soul. Just smarter than the rest of them by a mile.
    14 Mar 2013, 09:16 AM Reply Like
  • Still holding a little apple and looking to add if we get a pull back. Long and holding strong...
    14 Mar 2013, 09:26 AM Reply Like
  • Robert. The pullback has already happened. Now's the time to add. With every analyst predicting "miserable" Q1 #'s, even poor #'s will help the stock to recover.
    14 Mar 2013, 09:51 AM Reply Like
  • Maybe i'm missing something but Q1 was already reported.
    14 Mar 2013, 09:30 AM Reply Like
  • they have a peculiar way of reporting, they report Q1 results in Jan based on calendar last Quarter earnings ( so O/N/D 2012), so the actual results obtained in the 1st quarter of 2013 are reported in April 2013 called Q2 results.
    so even in reporting numbers they are ahead of the pack, they are true visionaries.
    14 Mar 2013, 10:44 AM Reply Like
  • Correct, Q2 results will be announced in April.....hmmmm.
    14 Mar 2013, 11:16 AM Reply Like
  • It's because Apple is on a fiscal year ending 9/30/2012. Thus their first quarter of the next fiscal year ends December 30th. Their second quarter ends March 31st.
    15 Mar 2013, 12:12 AM Reply Like
  • This makes the whole story worthless. Like much of these stories that are propagating online.
    15 Mar 2013, 10:26 AM Reply Like
  • Good news in small doses. Now if we can just get 80 more analysts to do the same thing at a 3 point pop per analyst the stock will be back at $700 in no time
    14 Mar 2013, 11:10 AM Reply Like
  • Hopefully a dividend increase, a share buyback increase and a stock split announcement in the next week.

     

    That should move things nicely!!

     

    Remember it was March 19 last year when they first announced the dividend - so any day now!!
    14 Mar 2013, 01:28 PM Reply Like
  • He predicts a stock cratering on the April report and guidance and he's recommending a buy NOW?

     

    Before the cratering and the stock gets even cheaper before his predicted rsie?

     

    What am I missing?
    14 Mar 2013, 02:12 PM Reply Like
  • Hope you didn't miss his negative attitude about the whole upgrade. He seemed apologetic throughout the entire interview, but then Walter is no match for that group on CNBC
    14 Mar 2013, 03:07 PM Reply Like
  • yes, he came across extremely weak, he almost made it sound " i give the stock an upgrade, so that if it bounces you can all sell , because the numbers are going to be awful "

     

    now in his defense , CNBC is out to bash Apple.
    15 Mar 2013, 01:37 AM Reply Like
  • WALTER is the same guy that came out with a 1000 price target on Qualcomm in 1999 and was totally wrong . Only time will tell if he is right on this call.
    15 Mar 2013, 02:16 AM Reply Like
DJIA (DIA) S&P 500 (SPY)