Ed Zabitsky, analyst at ACI Research, explains why he has a “sell” rating on Apple. Yes, he says you should sell shares of Apple and has been saying it for THREE YEARS. He gives the stock a $270 price target. And yes he still has a job believe it or not and seems a little bit defensive about his sell rating, saying the sun doesn’t revolve around Apple even though everyone thinks it does.
Actually, the sun might soon start to revolve around Apple and certainly the entire stock market does, especially as it edges closer and closer to half a trillion dollars in market capitalization. Heck, Apple is going to have $270 in pure cash by the time Mr. Zabitsky decides to change his rating from sell to hold – maybe he’ll even push it to market perform.
He does say Apple has executed extremely well. (Understatement alert!) He goes on to say HTML and web apps are going to change everything and you have to just step out of the way. Listen to the interview on CNBC below.