Oppenheimer is out downgrading Apple (NASDAQ:AAPL) to Market Perform from Outperform saying they don't know why Steve Jobs has pulled out of his annual address at Macworld on January 6. Maybe he's not feeling well, or maybe he just has nothing new to say. Whatever the reason, the unexpected announcement has underscored the greatest risk to Apple's long-term success—its dependence on Jobs' health and its apparent lack of a succession plan.
Six months have passed since Jobs appeared at the Apple Developer Conference, looking drawn and unwell. It's past time for Apple to either disclose the state of his health or elaborate a viable plan for eventually transferring power. Until such time, they can no longer continue to recommend Apple as a long-term investment. Downgrading to Perform; and removing $145 PT.
Notablecalls: This call I think will generate some serious debate about Jobs' health. It sure takes a set of cojones to come out with a downgrade like this one.
I see more downside to AAPL stock in the n-t.
Six months have passed since Jobs appeared at the Apple Developer Conference, looking drawn and unwell. It's past time for Apple to either disclose the state of his health or elaborate a viable plan for eventually transferring power. Until such time, they can no longer continue to recommend Apple as a long-term investment. Downgrading to Perform; and removing $145 PT.
Notablecalls: This call I think will generate some serious debate about Jobs' health. It sure takes a set of cojones to come out with a downgrade like this one.
I see more downside to AAPL stock in the n-t.
Why are they speculating about his health though? Why not just wait until we know something one way or the other?
ReplyDeleteby then it will be too late. Stock will be down 10-15 pts in case Jobs' health problems are terminal in nature.
ReplyDeleteHope it never comes to that.
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I think AAPL is broken. stock is down today on heavy volume, the MAC segment is a drag and consumers are NOT spending, look at RIMM. this should be a great short after the bear rally runs its course.
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ReplyDeleteNo. 1 reason behind the success of Apple is Mr. Steve Jobs. Also it is still a great company to invest in for the long term. According to Edubirdie Apple stock will be higher for the next few years.
ReplyDelete