Haters be Damned, Peter Misek Has Been Great on Apple (AAPL)
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Price: $169.89 +0.51%
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Jefferies analyst Peter Misek is getting some heat Monday for his bear-turned-bull turncoat call on Apple (NASDAQ: AAPL), upgrading shares from Hold to Buy and lifting his price target from $425 to $600. However, looking at his past ratings on the stock it would have proven wise to heed his advice.
To get a sense of what the blogosphere thinks about Misek, here is what MacDailyNews said about him today:
"Jefferies analyst Peter Misek couldn't analyze his way three feet down a brightly-lit, 10-foot wide, gleaming white empty hallway.
He seemingly "analyzes" Apple by following mainstream "news" articles that mention Apple; half of which are likely ginned up by competitors or AAPL shorts.
Anyone who relies on Jefferies analyst Peter Misek for Apple investment advice must not value money."
While Misek is most recently known for being an outspoken bear on Apple, essentially calling the company dead in the water, he appears to a subscriber to John Meynard Keyes' logic "When The Facts Change, I Change My Mind. What Do You Do, Sir ..."
Since 2010 Misek's rating calls on Apple have had uncanny accuracy, according to data tracked by StreetInsider.com's Ratings Insider.
In 2010, Misek initiated coverage on Apple with a Buy rating. At that time shares were at $278.64. While he missed the September 2012 $705 top, when he finally downgraded shares in January 2013 the stock was at $467 - locking in a gain of 84.5% for those that listened to him. Since his downgrade to Hold in January, shares of Apple have essentially done little. The stock is up a meager 3.4%, another good call.
In between the rating changes, there have been some seemingly bad advice (most notably the $900 price target in August 2012) and the recent price target cut to $425 ahead of the iPhone 5S launch. However, if you look strictly at his rating changes you would have done great following Misek.
So, while some will be quick to criticize Misek on his latest pick of Apple, he actually has some very good timing on the stock. Now that Misek is saying "Buy", it might be wise to tune out the noise and load up the truck.
To get a sense of what the blogosphere thinks about Misek, here is what MacDailyNews said about him today:
"Jefferies analyst Peter Misek couldn't analyze his way three feet down a brightly-lit, 10-foot wide, gleaming white empty hallway.
He seemingly "analyzes" Apple by following mainstream "news" articles that mention Apple; half of which are likely ginned up by competitors or AAPL shorts.
Anyone who relies on Jefferies analyst Peter Misek for Apple investment advice must not value money."
While Misek is most recently known for being an outspoken bear on Apple, essentially calling the company dead in the water, he appears to a subscriber to John Meynard Keyes' logic "When The Facts Change, I Change My Mind. What Do You Do, Sir ..."
Since 2010 Misek's rating calls on Apple have had uncanny accuracy, according to data tracked by StreetInsider.com's Ratings Insider.
In 2010, Misek initiated coverage on Apple with a Buy rating. At that time shares were at $278.64. While he missed the September 2012 $705 top, when he finally downgraded shares in January 2013 the stock was at $467 - locking in a gain of 84.5% for those that listened to him. Since his downgrade to Hold in January, shares of Apple have essentially done little. The stock is up a meager 3.4%, another good call.
In between the rating changes, there have been some seemingly bad advice (most notably the $900 price target in August 2012) and the recent price target cut to $425 ahead of the iPhone 5S launch. However, if you look strictly at his rating changes you would have done great following Misek.
So, while some will be quick to criticize Misek on his latest pick of Apple, he actually has some very good timing on the stock. Now that Misek is saying "Buy", it might be wise to tune out the noise and load up the truck.
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