The "wisdom of crowds" stock-picking site shows a sharp drop over the past three months
Click to enlarge. Source: Piqqem
In a report timed for release the day before Apple's (AAPL) fiscal Q3 earnings report, Piqqem's Jett Winter charts a sharp decline in investor opinion as measured by his crowd-driven stock selection service.
"In a stunning turn of events," he writes, "sentiment for Apple has dropped 15 points to the lowest level in the past 15 months."
Piqqem is a free website that invites users to make predictions about where a company's stock price is headed using a simple up- and down-arrow rating system. It collects those votes, applies a proprietary algorithm, and displays the collective wisdom of its users in charts and graphs -- something critics say is done even more convincingly by the stock market itself.
On Piqqem's scale of +100 to -100, Apple's current sentiment rating of 34.60 is still considered positive and indicates a quality stock. In fact, Apple has been the top rated equity in Piqqem business and finance category for the past 14 weeks.
But at its peak this year, Apple had a rating of 58 -- 23.4 points higher. Piqqem CEO Winters believes that recent events have taken their toll.
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| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.95 | -0.16 | -1.97% |
| Intel Corp | 26.73 | -0.43 | -1.58% |
| Microsoft Corp | 31.27 | -0.17 | -0.54% |
| Ford Motor Co | 12.28 | -0.25 | -2.00% |
| General Electric Co | 19.39 | 0.17 | 0.88% |
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,938.67 | -27.02 | -0.21% |
| Nasdaq | 2,933.17 | -15.40 | -0.52% |
| S&P 500 | 1,357.66 | -4.55 | -0.33% |
| Treasuries | 2.00 | -0.04 | -1.96% |
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