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Yes, That Was Quite an ‘I Told You So’ Moment

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 challenged.

In 2013 pre-stock-split numbers, Apple’s stock is today trading at over $800.

Tuesday, 27 January 2015