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Thread: Apple Continues to Remain "Very Optimistic" as Analysts Reduce AAPL Price Targets

  1. #1
    MMi Staff Writer Akshay Masand's Avatar
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    Default Apple Continues to Remain "Very Optimistic" as Analysts Reduce AAPL Price Targets


    As analysts continue to reduce their price targets for Apple, company executives seem to be “very optimistic” about the product pipeline and market position. In a meeting with Apple CFO, Peter Oppenheimer and SVP of Worldwide Marketing, Phil Schiller, Barclay Capital’s Ben A. Reitzes discussed a number of topics including potential uses for the company’s cash as well as future prospects for the iPhone and iPad. Unsurprisingly, the officials didn’t hint towards Apple’s direction in the future but they did express certain confidence about where the Cupertino California company is positioned. The officials had the following to say about the matter:

    We believe there is an undying dedication at Apple to innovate — and its leadership is working hard to prove bears wrong. We believe the company has a strong product pipeline ramping in (the second half of calendar 2013) — with new platform innovations as well, in our opinion.
    As of right now, it’s still rumored that Apple will be releasing a lower-cost phone based on the iPhone 5 design later this year, along with the next-generation “iPhone 5S.” Word has also been afloat regarding the possibility of a Retina iPad mini, an iWatch, and the long-rumored Apple television set. Despite all this, analysts still continue to lower their price target, with Adnaan Ahmad of Berenberg Bank even going one step further and calling the smartphone investment “dead” in a note to investors. According to Ahmad:

    Apple and Samsung margins are peaking and growth is going to be driven by the margin-dilutive mid-to-low-end segment in the next 24 months. In our opinion, this will translate into poorer industry fundamentals.
    Here’s to hoping that the confidence that the Apple officials showed is one that comes with backed products that will continue to provide to consumers around the world.

    Source: Fortune via AppleInsider

    Twitter: @AkshayMasand

  2. #2
    Of course apple will be very optimistic. It's their own company. Bear Stearns was very optimistic about its prospects a week before it went bankrupt. Boeing has been saying they've been very optimistic about their planes as they started catching on fire. Alan Greenspan was very optimistic about our housing market right as we walked into a bursting bubble. Now, I don't mean to imply that Apple is going to crash and burn. But if the salesman contradicts the third-party analyst, it'd be foolish to even give the salesman legitimacy with any form of publicity.

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