Wall Street makes a comeback
FORTUNE -- As long-time readers of this blog know, we've been running for more than four years a friendly competition we call the Apple Earnings Smackdown.
Here's how it works: Each quarter, in advance of Apple's (AAPL) earnings report, we gather estimates from every analyst we can reach -- both Wall Street professionals and a collection of (mostly amateur) independents.
What made the exercise particularly interesting -- at MOREPhilip Elmer-DeWitt - Feb 17, 2013 11:21 AM ET
How could so many analysts have been so wrong about Apple's share price?
FORTUNE -- I agree with almost everything James Stewart writes in his Saturday New York Times opinion piece "Following a herd of bulls on Apple."
He's right when he points out that the overwhelming majority of Apple (AAPL) analysts who were saying "buy" in September when Apple peaked at $705 were still saying "buy" in November, when it touched $505.
He's MOREPhilip Elmer-DeWitt - Feb 9, 2013 6:53 AM ET
Lazy, according to a study of firms, like Apple, with periodic 14-week quarters
FORTUNE -- One of the mysteries that lingers from Apple's (AAPL) most recent quarterly report -- when the company failed to meet Wall Street's expectations and its stock suffered its worst one-day loss in four years -- was whether the analysts who set those expectations were aware that the quarter was one week shorter than the same quarter MOREPhilip Elmer-DeWitt - Feb 2, 2013 3:14 PM ET
That's down from $740 a month ago
FORTUNE -- Wall Street engaged in a wholesale reevaluation of Apple's (AAPL) medium-term prospects last week following the company's Q1 2013 earnings report and Q2 guidance. Of the 36 analysts we polled, 33 lowered their price targets.
The new range, dropping any analyst who didn't respond, still covers a lot of ground. It travels all the way from $380 (submitted by Creative Global's Carlo Besenius, MOREPhilip Elmer-DeWitt - Jan 29, 2013 5:55 AM ET
William Power's opinions about Apple are as changeable as a baby's bottom
FORTUNE -- On Sunday, Baird Equity's William Power lowered his Apple (AAPL) price target for the second time in four days. That got me wondering how often he changes his mind about the company.
The answer, it turns out, is a lot: by my count, seven times in the past 12 months.
Starting at $500 last January, Power took his clients MOREPhilip Elmer-DeWitt - Jan 28, 2013 3:35 PM ET
The analysts weren't as freaked out as the traders seemed to be
FORTUNE (Koh Ngai, Thailand) -- There was mild disappointment here and there, but most analysts reacted calmly to a holiday quarter report that carved more than $50 billion off Apple's (AAPL) market cap in after-hours trading.
A sampling of the notes to clients posted Wednesday evening:
Katy Huberty, Morgan Stanley: March Q Another Tough Comp; Catalysts Hit in F2H13. C4Q revenue beat guidance MOREPhilip Elmer-DeWitt - Jan 23, 2013 9:13 PM ET
Ranking the best and worst Apple analysts for fiscal Q1 2013
FORTUNE (Koh Ngai, Thailand) -- As evidenced by Apple's (AAPL) sickening $55.5 (10.8%) drop in after-hour trading Wednesday, the analysts who cover the company -- both on and off Wall Street -- aren't doing it any favors.
The company didn't have a bad quarter. In fact, it posted its best quarter ever with earnings per share of $13.81 on sales of MOREPhilip Elmer-DeWitt - Jan 23, 2013 8:16 PM ET
In the past week, at least eight Apple analysts have lowered their targets
FORTUNE -- Some did it based on what they perceived as signs of weak iPhone 5 sales. Others took the opportunity to bring theirs closer to the company's ravaged stock price. At least one believes Apple's (AAPL) best days are over, and that investors are best advised to borrow shares and sell them short.
Whatever the reason, at least eight MOREPhilip Elmer-DeWitt - Dec 18, 2012 11:56 AM ET
Record first-weekend sales suggest a strong Chinese New Year for Apple
FORTUNE -- On Friday, UBS's Steven Milunovich wrote that "some of [his] Chinese sources do not expect the iPhone 5 to do as well as the iPhone 4S." Two days later, Citigroup's Glen Yeung wrote that reports of supply-chain order cuts "bring into question the strength of iPhone 5."
That was before Apple (AAPL) announced that it sold more than 2 million MOREPhilip Elmer-DeWitt - Dec 17, 2012 7:45 AM ET
Since hitting $705 in September, Apple has dropped 24%. Will its shares ever bounce?
FORTUNE -- With Apple's (AAPL) share price off sharply from its September highs and seemingly stuck in the mid-$500 doldrums, sell-side analysts with considerably higher price targets (mean: $764) have been busy trying to calm their anxious clients. Excerpts from this week's notes:
RBC Capital's Amit Daryanani: Addressing Top Five Concerns. "In recent weeks we have discussed and MOREPhilip Elmer-DeWitt - Nov 14, 2012 7:08 AM ET
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