Here's Who Said Apple Would Reach $1,000 a Share
In case you're interested, here are all those friendly folks who said Apple shares would hit $1,000. Sure, some of these folks still have time, as in Apple might indeed reach $1,000 a share in their time frame, but it’s not looking too good for most of these analysts/bloggers/prognosticators/experts/founders.
Yes, about six months ago everyone on TV and across the web was pretty much saying Apple’s stock would never go down. They said $1,000 for Apple shares was a foregone conclusion. And Apple shares certainly wouldn’t go down under $400 a share, that would be absurd to even consider. Well, yes, Apple shares most certainly have gone lower than $400 a share, and Apple shares are still hanging around $400 even after increasing their share buyback plan to $60 billion and raising their dividend.
- Andy Zaky: “Apple will reach $1,000 in late December or early January 2014″; His Apple hedge fund – yes he only bought Apple shares for his fund - lost millions.
- James Altucher: “Apple is definitely undervalued. It could easily find its way to $1,000.”
- Gene Munster: “Now Munster is upping the ante, calling for Apple to reach $1,000 a share by 2014 and become the first U.S. company worth $1 trillion.”
- Steve Wozniak: “People talk about $1000 stock price. At first you want to doubt it, but I actually believe that, and I don’t follow stock markets. Apple has that much growth left.”
- Jim Cramer: “Thinking of Apple as a $1,000 stock is not “irrationally exuberant” as some have claimed, but likely a foregone conclusion.”
- Shebly Seyrafi of FBN Securities: “AAPL continues to be a strong new product story,” the analyst writes. “It has the iPhone 5 shipping soon, it is expected to have a new iPad mini shipping in FY Q1, China Mobile is a large opportunity for AAPL starting next year and the iTV is generally expected to be launched over the next year or so.”
- Brian White of Topeka Capital: “Driven by an ever expanding portfolio of innovative products, a growing integrated digital grid, unmatched aesthetics and a brand that is able to touch the soul of consumers of all backgrounds, Apple fever is spreading like a wildfire around the world and we see no end in sight to this trend.”
So yeah, they were very much wrong about Apple shares hitting that $1,000 share price. Instead, Apple’s been cut nearly in half, going from a high of around $700, when many of these Apple to $1,000 calls were made, to hovering around $400 a share.
Yes, of course Apple is still an incredible company – it’s not like people aren’t going to buy the next iPhone, iPad or a new iTV – as a matter of fact, they’ll wait in lines just to get these new Apple products. It’s just that the stock isn’t going to run up to $1,000 any time soon. The Apple to $1,000 club was wrong.
I'll just quietly leave this here...
http://www.zerohedge.com/news/2013-04-24/here-who-said-aapl-would-hit-1…
"And next up, a list of those who said gold would be over $2000 right now..." - "Wont see that on ZH!"
"Looks like a list of Jewish Car Salesmen."
Touché, Andy, Touché.
This made me laugh. Kudos sir. I'll have to start copy pasting zero hedge here too!
was first posted on marketsqueeze, then zerohedge picked it up http://www.marketsqueeze.com/2013/04/23/who-said-apple-would-reach-1000…
Shazar has a WSO account?
I had some friends who bought a few apple shares months ago. Feeling pretty good about myself right now for not buying them.
Big difference between wrong and early.
How early do you have to be to be before they start becoming the same thing? Like, if I say the S&P is going to 2,000, can I just wait for inflation to send the S&P to 2,000 and call myself correct? Most analyst POs are 12-month objectives. Pretty safe to say AAPL won't make it to $1,000 by then.
My answer to that would actually be yes, yes you could. Being that I'm in the position where I'm not really up against it financially, I have the luxury of waiting. I see your point about professional analysts, but when the OP starts throwing guys like Altucher and Wozniak under the bus for being "wrong", that's taking it a bit far.
Yeah, I agree with you there. As for being "correct", I think there has to be some kind of timeline on you projections.
they.got.it.wrong.get.over.it.
How about this, we go double or nothing on gold too. I think it's going below $1,000 before the end of year. Gold was a fear bubble, Apple was a greed bubble, now we go back to business as usual for a while.
.
Always do the opposite of what Cramer says
Ashton Kutcher is playing Jobs, looks like Jobs, invests in high tech PA like Jobs. Kutcher for CEO! Justsayin!
James Altucher is full of shit
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