The analysts covering Apple can’t cut their price targets fast enough.
Click to enlarge. Source: TipRanks.
Below: My spreadsheet of Apple price targets, as accurate and up-to-date* as I can make it. Corrections appreciated.
Click to enlarge. I rely on *TipRanks ($) for the estimates of an analyst who shall remain nameless (long story).
My take: I’ve never seen the company’s share price fall as far below the even the most bearish target.
Capitulation as the traders call it .
/s
I’m not !!!
#gravity
#Titanic
Count me as a frustrated shareholder. I can only imagine how Apple employees feel.
It’s also important to note this isn’t just about Apple. America is at risk and the markets are reflecting that fact.
The vastly overvalued stocks are getting their comeuppance today. It’s a shame it has to suck value out of stocks that aren’t overvalued to do so; but that’s the way this process works. The market has been too sick for too long to not expect a prolonged sweat-out.
I’m not blase, folks. I’ve pointed out often enough that Donna and I can’t avoid selling AAPL on a more or less continual basis to maie ends meet. But I’ve been expecting this for quite some time now. So many important stocks had their P/E and P/R ratios based on momentum and not underlying value that it was almost a certainty thst, if the worm turned surficiently, it would e brutal. And the longer it took for the worm to turn, the more brutal it would become.
Apple has exactly what it needs to not only make every long term stockholder whole, but to increase their percentage ownership of the valuable company in history. At the same time, those who don’t own as much AAPL as they’d like have an opportunity to buy in at fire sale prices.
I’m only sad that I don’t get to share in their good fortune.
Sorry tor the bad grammar and lousy spelling in the above. I got called away for a important phone call just after I posted it. One of these days, PED, it would be great if you’d consider a much longer editing time. Between old eyes, working off an iPhone, the low contrast typeface, and the shortness of editing time, I find myself always in a rush to make corrections.