Watch CNBC bears kick Apple on the way down (video)
November 14, 2018 by Steven M. Peters
Shark Tank’s Kevin O’Leary sets the tone, blaming Tim Cook and his unit shares bombshell.
From Wednesday’s HalfTime Report:
We were together when the print came the night before about taking unit sales off the roster, not telling investors anymore how many iPhones were sold, how many iPads were sold. I sold the stock immediately after that. Particularly on the comment by the CEO said it was just like looking inside a grocery cart. It didn’t matter what was inside the grocery cart when you put it past the cash register.
I’ll never forget that comment.
This company in based on selling units so that more subscribers will buy more services. That was the whole model. If you are an analyst you have a little cell in a spreadsheet that has the forecast of how many units your going to sell in the net 90 days.
You can’t fill that box anymore. That narrative changed in a dramatic way. The stock will continue to trade down.
I don’t own it. It think it will make it to $160. I don’t know what the floor is.
Cue the video, which goes on for a long, painful four minutes.
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Weiss on Apple: CEO Tim Cook is a caretaker, not an innovator from CNBC.
My take: Talk is cheap, especially when you’re talking about Apple going to $160. These guys may be out of the stock, but they’re not disinterested. They want Apple to keep falling so they can buy back in for cheap.
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