Another day, another analyst taking a whack at Apple
FORTUNE — Not content to issue two negative reports on Apple (AAPL) in the space of two days last month (Apple is losing the screen-size war and Apple could face a rough two years), Jefferies’ Peter Misak was back at it again Tuesday…
- Cutting his fiscal Q2 iPhone estimate (to 35 million from 37.5 million)
- Lowering his price target (to $420 from $500) and
- Laying 25% odds that the company will miss its own guidance this quarter (something those naysayers at Citi first suggested last week).
Like two other analysts Monday, Misak citied supply-chain reports for Apple’s troubles — in this case “issues with the new iPhone casing colors, leading to launches being delayed from June to July-September.”
“Among the most interesting pump and dump stock stories of fiscal 2012,” wrote the Wall Street Pit, “Apple is certainly near the top of the list.”
UPDATE: Just for fun, check out Buster Heine’s History of Horrible Apple Predictions from Peter Misek posted Feb. 13 at Cult of Mac.