With Apple at $236, Bernstein sticks with $205 (video)

"Whenever there is optimism about a stock you have to look over your shoulder." — Analyst Toni Sacconaghi

My take: Sacconaghi is a smart guy, but his clients have missed several run-ups in a row. Why CNBC still bills him as a "top Apple analyst" is a mystery to me.


  1. Gregg Thurman said:
    I don’t care how expensive his house is, or how much he makes doing what he does, TS is an idiot.

    October 11, 2019
  2. Jerry W Doyle said:
    Scott Wapner referred to Toni Sacconaghi at the conclusion of the interview as Apple’s number one analyst. Is that for true? Was Scott being polite or did Scott throw that comment in to be facetious on the way out the door? I did not know that Sacconaghi was held in such esteem as being Apple’s number one analyst. His track record doesn’t mirror such recognition. His stock price forecasts always are behind the curve and he and his investors whom he represents always are chasing a train that has left the station.

    Yes, there was a pullback last November in Apple stock, a big one from about $232 to $142, around $90. The pull-back was more pronounced in Apple stock ahead of all other companies and ahead of the market declines that came almost immediately after word of slowing iPhone sales in China. Apple was a “precursor” (the canary in the coal mine) of a China economic slow down, a big China economic slow down. The market as a whole was going through much uncertainty (and not just with China) and companies’ share prices across the board were being affected negatively days and weeks after Apple reported the China economic malaise. The Nasdaq plummeted to around 6200 from 8109. Today it is at 8057. The Dow collapsed to around 21800 from 26650 and today it is at 26816. The S&P 500 plunged to 2350 from 2924. Today it is at 2970.

    In summary, Apple was the precursor of what was to follow as I described above. Toni Sacconaghi mentioned nothing about what was happening to the markets as a whole.

    Many long term Apple investors saw an opportunity when Apple share price was at those lows, and we went in and bought more shares. Little doubt, that investors who do not follow and understand Apple as we, panicked, leaving some rather bad memories of having sold imprinted indelibly in their mindset. I told my Apple investor friends who do not follow Apple not to sell, but some did and paid the price for having done so.

    October 11, 2019
  3. Gregg Thurman said:
    At my first ever hockey game.

    Bought the required junk food and beer with my AppleCard. At the first stop the cashier kept turning the card over then asked me what it was. At the second stop the cashier says, “Oh wow, this is my first AppleCard.”

    People in line were looking to see what the big deal was. It was kinda cool (as with any new Apple product).

    October 11, 2019
  4. Michael Thompson said:
    Toni ScumBag- a-Naghi proclaimed that we reached Peak Apple in 2015 and then repeated it annually. The piece of dirt should be disinvited and banished from all future Apple events and earnings announcements. Persona Non Grata.

    Apple should destroy ScumBag-a-Naghi with press releases using Toni’s own words over the years. Permanently tarnishing the bought and paid for criminal’s reputation would be easy business. Racketeering organizations like CNBC are so clearly part of the criminal game when they cling to their: “Apple’s #1 Analyst” falsehoods.

    And yes it does matter where Criminal Toni lives (The Hamptons, NY) because if his stated salary doesn’t justify supporting a $5 million house, then an investigation should be launched.

    Toni needs all of his assets seized and then prison.

    October 12, 2019

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