One more serving of AAPL stock price claim chowder. From a March 2013 piece for MarketWatch by Quentin Fottrell:
In 2010, when Apple stock was trading at $199, Edward Zabitsky,
CEO of ACI Research in Toronto, was the only analyst on Wall
Street to rate the stock a “sell.” Over the next two years, shares
went on a tear, peaking at just over $705 and making Apple the
world’s largest company as measured by stock-market value. Today,
shares have fallen by more than a third from that high. Through it
all, Zabitsky has stuck to his bearish call; and while he has
since been joined by a couple other pros who have sell ratings on
the stock, including Adnaan Ahmad at Berenberg Bank and Per
Lindberg at ABG Sundal Collier, Zabitsky retains the distinction,
and in some circles the notoriety, of having gotten there first.
We spoke to Zabitsky about his wins, mistakes and what he thinks
Apple AAPL should do next.
You have a $270 price target. Is that still too pessimistic?
Zabitsky: It’s formally a one-year target, but in 3 to 6 months
we’re going to see that play out. The reason I started to make
noise was the rise of Samsung. If you say that now, it’s not
In 2013 pre-stock-split numbers, Apple’s stock is today trading at over $800.