"We still like the story, but the recent run-up in the last six weeks has left us less comfortable recommending putting new money to work," Bank of America analyst Keith Bachman said in a report. "Our main driver in our downgrade is valuation."
[..]
"To be clear, our downgrade is based on valuation concerns only and we continue to view Apple favorably owing to its strong market position in MP3 players, signs of a 'coattail' effect from iPod on Mac sales, and history of product innovation and execution," he said in a report. The stock has already eclipsed Bear Stearns' price target of $70.
I think a couple different brokerage firms downgraded it from buy to neutral, which is probably spurring the selling.
A stock can't go up constantly!
One day matters little in terms of a many year investment (which is what stocks should be).
That's the ONLY reason it went down. Amazing how that happens, huh? The stock is going great, any stock, and then the brokerage firms downgrade it, and it goes down...
Maybe it was that MS & MTV music service announcement?
- Jasen.
I couldent tell if you were serious or not there but I think this has a huge bearing on investors opinions of where this market will grow. Any time M$ makes a move like this that could potentially pull marketshare away from Apples bread and butter you'll see the stock suffer to some degree. In this case I think it is short lived and likely was caused by several factors. January will change things though
if it touches anywhere near $70 that's a great opportunity to pick up AAPL. i reckon january announcements and the following months will blow everything up to $90 by June 2006.
I just checked my Apple stock this morning & it's down $4.10 so far today?
What the hell happened? I haven't read any dire analyst predictions. Apple is
selling iPods hand over fist. Any idea of what triggered the sell off?
End of the year is near...The buyers are sitting out and a lot of people are making final liquidations before the end of the years bookkeeping.
This is a great time to buy for a short run...after Jan 1, the Macworld runup starts...I say buy now and sell half one hour before Jobs' keynote as a hedge and half the day after.
Comments
A stock can't go up constantly!
One day matters little in terms of a many year investment (which is what stocks should be).
"We still like the story, but the recent run-up in the last six weeks has left us less comfortable recommending putting new money to work," Bank of America analyst Keith Bachman said in a report. "Our main driver in our downgrade is valuation."
[..]
"To be clear, our downgrade is based on valuation concerns only and we continue to view Apple favorably owing to its strong market position in MP3 players, signs of a 'coattail' effect from iPod on Mac sales, and history of product innovation and execution," he said in a report. The stock has already eclipsed Bear Stearns' price target of $70.
Originally posted by Flounder
I think a couple different brokerage firms downgraded it from buy to neutral, which is probably spurring the selling.
A stock can't go up constantly!
One day matters little in terms of a many year investment (which is what stocks should be).
That's the ONLY reason it went down. Amazing how that happens, huh? The stock is going great, any stock, and then the brokerage firms downgrade it, and it goes down...
- Jasen.
Originally posted by jasenj1
Maybe it was that MS & MTV music service announcement?
- Jasen.
I couldent tell if you were serious or not there but I think this has a huge bearing on investors opinions of where this market will grow. Any time M$ makes a move like this that could potentially pull marketshare away from Apples bread and butter you'll see the stock suffer to some degree. In this case I think it is short lived and likely was caused by several factors. January will change things though
BUY???
night the stock dropped 10% because analysts thought that Apple should have
sold 10 million iPods.
Friggin' analysts.
Originally posted by mello
I just checked my Apple stock this morning & it's down $4.10 so far today?
What the hell happened? I haven't read any dire analyst predictions. Apple is
selling iPods hand over fist. Any idea of what triggered the sell off?
End of the year is near...The buyers are sitting out and a lot of people are making final liquidations before the end of the years bookkeeping.
This is a great time to buy for a short run...after Jan 1, the Macworld runup starts...I say buy now and sell half one hour before Jobs' keynote as a hedge and half the day after.