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Tech Industry

08/28/2003, 4:00pm, EDT

Thursday, August 28th

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Wall Street unsympathetic to Apple niche

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Even though Apple's iTunes online music store is "doing boffo business" and its new Power Mac G5 "has been met with mostly great reviews," the First Call consensus rating among Wall Street analysts for Apple's stock is a 2.9, according to CNN/Money. "So this is essentially a Hold recommendation which, as most investors know, is a nice way of saying Sell....'Apple has always been the oddball in the computer industry,' said Matthew Kelmon, president of Kelmoore Investment. The criticism that Wall Street often makes when evaluating Apple's prospects is that it's a niche company that will never supplant Microsoft.'"

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123367 08/28, 4:28pm, EDT Apple will be #1
come on baby!

posted by MacNN.com Reader

123370 08/28, 4:46pm, EDT Let them
Let them sell. That'll make the price drop so I can buy more.

posted by MacNN.com Reader

123376 08/28, 5:13pm, EDT about wall street
Analysts are the biggest arogant monkeys in suites.
pompous and horribly wrong 60%-80% of the time.

It's just opinions any way

posted by MacNN.com Reader

123380 08/28, 5:32pm, EDT Wall Street
So, if a company cannot "supplant Microsoft" it should just close its doors? How arrogant!

posted by MacNN.com Reader

123381 08/28, 5:32pm, EDT yea, thats why..
..stocks have gone up almost 4 bucks since june? Brokerage idiots.

posted by MacNN.com Reader

123382 08/28, 5:34pm, EDT i agree.

i'd like to know how many of these guys talking about selling Apple ever recomended buying Enron or Worldcom?

posted by MacNN.com Reader

123387 08/28, 5:53pm, EDT remember the IT bubble?
yes, that was created also by these so called ANALysts... never trust an analyst if you can use common sense.

posted by MacNN.com Reader

123392 08/28, 6:12pm, EDT Ha!
No PC manufacturer will ever supplant Dell. So the others should just give up.

JC Penney will never supplant Sears as a department store. You should sell any stock you have.

Volkswagen will never supplant GM as a supplier of cars. Guess they are worthless too.

CNN will never supplant real journalism. So by their own logic, CNN should shut its doors.

posted by MacNN.com Reader

123395 08/28, 6:45pm, EDT Don't be so sensitive
The caricatured argument does make sense: No PC manufacturer will surpass Dell, thus their stock is low. No-one is saying that they cannot surpass Dell, just that the odds are low => cheap stocks.

Even during the last years during which Apple has been doing Really Cool stuff, they haven't increased their market share => cheap stocks.

And yes, I think apple will prevail, and yes, if I had money to burn I'd invest.

posted by MacNN.com Reader

123402 08/28, 7:29pm, EDT Wall Street
Wall Street is filled with useless, know-nothing bean counters who are nothing more than aggrandized checkbook-balancers. They THINK they know all, but in reality know NOTHING. And why do we let them run the world????

posted by MacNN.com Reader

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