Analysts chime in on Apple
updated 08:28 am EST, Wed December 6, 2000
Merrill Lynch analyst Steven Fortuna has reiterated his near-term "neutral" rating on Apple. Credit Suisse First Boston analyst Kevin McCarthy, meanwhile, has downgraded the stock from "buy" to "hold." J.P. Morgan analyst Daniel Kunstler has also cut his rating on Apple, from "buy" to long-term "buy." Lehman Brothers analyst Dan Niles issued a report at noon Eastern, cutting his forecast on Apple's fiscal 2001 results to a net loss of 15 cents per share, from a profit of $1.15 per share, signaling the analyst's belief that Apple will not be able to return to healthy profitability as early as the company predicts it will. [updated]






Joined:
Apple stock
"Hold" in analyst's circles means "sell," and these geniuses will wait until share holders panic and start selling, driving the stock to $10/share. Then these brokerage houses will buy tons of Apple stock and then sell them again during January's Macworld Expo, when Apple stock always goes up. That's how they will make a profit. Just watch and see. Don't get fooled, hold on to the Apple stock, other PC stocks i.e. Dell, Gateway have also been downgraded. Don't get suckered by these analysts, their job is to make money for their financial houses first, then for their clients.