Toni Sacconaghi: ‘Shame on us for missing’ Apple (video)

13 Comments

  1. Kirk DeBernardi said:
    Shame on US?!

    Nothing like spreading the blame.

    0
    June 25, 2020
  2. David Emery said:
    When CNBC puts PED on the air to talk about AAPL Analyst Performance, then maybe I’ll be impressed. Until then, business media IS PART OF THE PROBLEM.

    1
    June 25, 2020
  3. Jerry Doyle said:
    This video is in line with my earlier comments on PED’s blogged subject, “Looked who raised their Apple targets after WWDC,” published earlier today by PED. This is not the first mea culpa by Toni Sacconaghi on not getting Apple stock price correctly.

    CNBC analysts (and especially Scott Wapner) more and more are holding Toni accountable for missing out on Apple to where Toni’s entire interviews are spent defending actions by him and his team that obviously are failing them and the good shareholders they represent. It is beginning to look pathetic, and I believe that CNBC analysts have begun to realize that the “stink” of it all is ascending over them, if they don’t hold Toni’s feet more to the fire on just why is he getting Apple stock price so very wrong.

    Each interview lately Toni ends up literally apologizing for being errant.

    0
    June 25, 2020
  4. Greg Boyd said:
    In Apple since 97.

    I haven’t missed out.

    6
    June 25, 2020
  5. Greg Bates said:
    Sacconaghi’s problem is that his analysis is way off. He says Apple chips might boost profit margins by half a percentage point, implying it’s no big deal.

    But Cook spells out a different rationale: Apple’s silicon provides tighter integration between hardware, software and services. And Apple has built itself entirely on that formula: tight integration = unbeatable user experiences. Federighi demonstrated new smoothness as a tiny example of what the future holds. We won’t fully appreciate for some time until several iterations of the new Macs have rolled out.

    In that context, impact on profit margins as a function of cost savings is utterly irrelevant. Sacconaghi’s focus on that is indicative of his larger problem: he can’t see where Apple is going beyond profit margins when every investor sees the future.

    I would be sympathetic to an analysis that said, we are in the middle of a pandemic, so no one can predict long term. That said, if there was no pandemic our target would be more like $390+. But he didn’t say that.

    Nonetheless Sacconaghi serves a useful function: as Apple’s top analyst critic, the poor quality of his analysis reassures me that Apple will do just fine.

    4
    June 25, 2020
    • Jacob Feenstra said:
      That is part of his problem—he doesn’t see the forest for the trees. He analyses one element and then dismisses it as marginal. He doesn’t see the wheels within wheels strength that Apple is generating. He really has no clue.

      0
      June 26, 2020
  6. LALIT JAGTAP said:
    I am puzzled why CNBC made Toni #1 analyst. Since 2005, we don’t have any Cable TV network at our home. Our family is enjoying bytes of AAPL since 99. We are happy that we have not missed the CNBC Wall Street experts like Toni.

    1
    June 25, 2020
    • John Konopka said:
      I look at these shows as entertainment, not serious financial advice.

      1
      June 25, 2020
      • David Emery said:
        But they’re not very entertaining, either.

        Kavass might have been “entertaining” for being so freaking wrong. This is just stupid, like watching last week’s lottery numbers.

        0
        June 25, 2020
  7. David Drinkwater said:
    Toni has admitted “shame on us” at least twice in recent history (I think a separate Apple 3.0 article). (It is possible that I misremember, and it was a different “analyst”.).

    Now the shame has to be recognized for not giving up and clearing the air for someone else to speak.

    Take your salary/retirement package and head for the hills!

    1
    June 25, 2020
  8. Robert Stack said:
    Is his record this bad on other stocks he covers? Or is AAPL an outlier for him?

    0
    June 25, 2020
    • Jacob Feenstra said:
      His average on the stocks he covers is actually pretty good. He used to be a bull on Apple. He somehow got stuck in the land of unbelief. Since then he has been a perineal chaser on AAPL.

      0
      June 26, 2020

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