Why Bernstein’s Toni Sacconaghi finally raised his Apple target (video)

From CNBC’s “Rising interest rates are really causing people to scrutinize valuation: Bernstein’s Sacconaghi” which aired Friday:

Toni Sacconaghi, Bernstein sr. research analyst, joins ‘Closing Bell’ to discuss tech stocks and where he sees things headed for the rest of the year.

The Apple bit starts at the 2:30 minute mark:

My take: Where was “Toni’s Take” on Apple for all of 2021? He spent most of the year trying to justify a soggy $120 price target and the rest of it defending an equally soggy $132. Still hoping to get my hands on his note.

See also: Toni Sacconaghi gets over himself, raises Apple target $38 to $170

12 Comments

  1. David Emery said:
    > ” Still hoping to get my hands on his note.”

    Ugh. Be sure to sanitize your hands afterwards 🙂

    6
    January 15, 2022
    • Alan Birnbaum said:
      … and socially distance.

      2
      January 15, 2022
  2. Jerry Doyle said:
    I shake my head and roll my eyes in exasperation. My consternation has to do with how Toni Sacconaghi continues to retain with CNBC “relevance” for CNBC’s viewing investors.

    3
    January 15, 2022
  3. He did highlight the important points about Apple but seems more constrained by the bear on the bookshelf behind him. In an interesting twist, he owns a copy of ‘Net Gain’ by Hagel & Armstrong (1997). ‘Net Gain’ is about the rising importance of virtual communities like Motley Fool. Apple 3.0 is my preferred virtual community these days.

    9
    January 15, 2022
  4. Robert Paul Leitao said:
    At least Mr. Sacconaghi is consistent. He’s a numbers guy. He counts iPhones, Macs and iPads. Analysts that count customers and analyze levels of engagement are likely to have higher price targets on Apple.

    2
    January 15, 2022
  5. Doug Montgomery said:
    Note that Toni is still rocking an older version of AirPods in the video – then note when you see Dan Ives and others more Bullish on Apple they have AirPods Pros on.

    1
    January 15, 2022
  6. Michael Goldfeder said:
    I have yet to watch an interview of Toni S. and have someone ask him: Since you’ve not been recommending Apple for the past three (3) years, and Apple has gone up in value;

    Apple gained 86.2% in 2019;

    Apple gained 80.8% in 2020;

    Apple gained 35% in 2021;

    How is it you are still being negative on the stock? As a follow up: What have you recommended in place of Apple to the clients at your financial firm?

    12
    January 15, 2022
    • David Emery said:
      “And how have those recommendations performed when compared to AAPL?” (Without that, the record is incomplete. Mebbe Toni has picked better choices. Let him produce the -data-.)

      0
      January 16, 2022
      • Bart Yee said:
        @Michael and @David

        According to Tipranks.com Toni Sacconaghi / Bernstein has 73/112 successful ratings for a 65% success rate and rated #1109 of 7700+ analysts. Over a 1 year period his ratings have had 13.5% average return. This compares with the 1 year return of:
        Dow 16.2%
        S&P 22.9%
        Nasdaq 13.6% (major drop recently)
        AAPL 34.7%

        This again confirms that it’s difficult to beat the indexes and AAPL.

        For comparison some of the recent top AAPL price targeters:

        Harsh Kumar / Piper Sandler has 181/220 ratings for 82% success rate, 1 year average returns of 36.9%, ranked #20 of 7775 analysts.

        Daniel Ives / Wedbush has 217/312 ratings for a 68% success rate and his 1 year returns are 32.1%. He is rated #52 of 7775 analysts.

        Surprisingly to me Katy Huberty / Morgan Stanley has 200/312 ratings for 64% success rate and 1 year returns are 14.7%. She is rated #358 of 7778 analysts.

        Amit Daryanani / Evercore is just above Katy at 64%, 14.9%, #357.

        Samik Chatterjee / JP Morgan is 65%, 21.2%, and #408.

        Ananda Baruah / Loop Capital 56%, 7.5%, and #1102.

        And the bottom dwellers:
        Rod Hall / Goldman Sachs 47%, 2.1% and #3439.

        Pierre Ferragu / New Street 61%, 6.2%, and #2290.

        ‘Nuff said.

        2
        January 17, 2022
        • David Emery said:
          Great stuff, Bart! Thanks!

          1
          January 17, 2022
  7. Kirk DeBernardi said:
    Proof this man does not “get” this company.

    Yet the fools will follow.

    0
    January 16, 2022

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