Citi's Apple Coverage Tag Trio Downgrades AAPL To Neutral, Price Target Cut By $100 To $575

Tyler Durden's picture

It seems like it was only yesterday (actually it was 20 days ago) that Citi boldly went where every single other sellside analyst has gone before, and initiated the world's biggest hedge fund hotel stock, AAPL, with a Buy and a $675 price target, only it stunned the world by assigning not one, not two, but three analysts to follow the name (and to generate gobs of soft dollars from Hedge Funds but that's a different story entirely): a chip analyst, a hardware, and a software expert. Well, much has changed in three weeks apparently, because that tag trio just slashed AAPL's price target from $675 to $575, and cut its outlook on the name from Buy to Neutral, once again confirming what everyone knows: sellside research is the most hopelessly useless goalseeking, backward looking product created by Wall Street's brilliant minds whose only prerogative is how to bleed their clients dry.

Full report for those who are running low on one-ply Charmin' or its monetary equivalent, US Dollars (both soon to be urgently needed by a diarrhea-impaired Shinzo Abe).

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Western's picture

I would love a live tracking chart of insider sales for AAPL.

Harlequin001's picture


Ho Ho Ho..

So, just a small adjustment then...

Not like they got it wrong eh..

SanOvaBeach's picture

Time to stick an apple up your ass..............

monoloco's picture

Based on the P/E ratio it seems like the market is valuing AAPL about the same as it values Dell. Based on that, it's pretty hard to believe that Apple will fall much below these levels. I'm no expert, but it looks like a buying opportunity to me.

AU5K's picture

So the rats do desert a sinking ship !!

ball-and-chain's picture

Apple has an inferior product.

Samsung is much better.

I have the Galaxy Note.

It does everything but clip your toenails.


Rathmullan's picture

Heh, 2 months late and $200 dollars short if you ask me!

I am a Man I am Forty's picture

yeah, and laptops, smart phones, and ipads didn't exist before then, cars went parabolic too

nowhereman's picture

If you are still in the game you are quite insane.

Anyone who thinks there is a "market" needs their head read.

Yen Cross's picture

That almost resembled a womb

ZeroAvatar's picture

Buy! Buy! Buy!  In our Narcissistic Society, EVERYONE needs to walk around with their face staring into the black plastic and glass 'pool'.

Yen Cross's picture

au contraire<  Silence is golden. Just wait my friend/

SanOvaBeach's picture

Buy! Buy! Buy!, means stick three apples up your ass.....................

Currency is Debt's picture

Outside from the Bernanke QE Put to Infinity. These juiced up tech stocks like apple et al are some of the big market leaders. If they sag it is a bearish technical indicator for equities. IBM has been propping up the Dow and S&P for several years. Amazon rocketed.

ZeroAvatar's picture

That's why silver has been tanking:  margin calls on AAPL.

Bindar Dundat's picture

Hershey is the only stock to buy for two reasons.  Everyone will always have a few dollars for a treat no mater how fuccked up the markets are and they can change their prices quickly as inflation speeds up.   

smiler03's picture

Don't twinkies have the same fundamentals?


Bansters-in-my- feces's picture

Speaking of bleeding dry,Gold just got hammered 10$ in 10 minutes for no reason.

Yen Cross's picture

Soft Dollars/ The sphincter, is getting ready to slam shut!  bitchez/


Blackfox's picture

The mother of the gunman who killed 20 children and seven adults in America’s worst school massacre, was a gun-proud “survivalist” preparing for economic collapse, it has emerged.

magpie's picture

Ah well, as long as TPTB is distracted by evil preppers all is fine.

SanOvaBeach's picture

Did he click on Zero Hedge a lot?

Aurora Ex Machina's picture

Yes, I caught that as well: it's trending all over, and is probably getting cemented into the narrative.

The real question is whether-or-not she was in the "six bad psychological types" that Brandon Smith told us about.


Not that the two are linked in some kind of media blitz. No siree.

Water Is Wet's picture

OH MY GOD Get the bad man off my television!!!!!!!!!!!!!!!!!!!!!!!

Water Is Wet's picture

He's giving some kind of "go buy guns" church sermon I think.

Yen Cross's picture

 I'm just setting you guys/gals  up for a trade/ Take that (end of world) shit somewhere else/

 We are all burning in Chair Satans(inflation) inferno!

nmewn's picture

I'm running with a fork with my hair on fire!!!

q99x2's picture

Don't they mean $475. AAPL is up to $509 from $377 last year. Pretty good. I think it should be a victem of Chinese patent universalization because of how much it has held back technology. Make it go away.

Miffed Microbiologist's picture

Last week at work I was aghast when my coworker took a call from her broker. I was half listening when I heard her say " sounds good, let's put it all in Apple". Biting hard on my lip I kept thinking just don't say anything , it's none of you're business let it go.... Then I just couldn't stand it and asked what was going on. She said " oh I inherited $100,000 and this guy at Merrill Lynch is helping me invest. He said apple is at its bottom and will make me money, he's doing the same thing.....hey I think your lip is bleeding!" God, all I could think about was how much gold that could have got me .... Sigh :-(


SmoothCoolSmoke's picture

/ES +8.   Too funny.

orangegeek's picture

Apples follows the NASDAQ100 and the NASDAQ100 Daily is looking bearish.


Have a look:


A more current NASDAQ100:



StoleYourMoney's picture

AAPL downgraded after being pumped all year? SHOCKING!

Bruce Krasting's picture

ZH reports that Citi now thinking Apple has rough water in front of it.

Over at Business Insider, they're pushing a story from Morgan Stanley about how really great things are for Apple.

Two observations:

-BI always brings you the bull story. It doesn't matter, they're always upbeat.

-Anyone who listen to these analysts, is a fool. You'd be better off tossing a coin.

Water Is Wet's picture

You were pretty scarce in the comment thread to your last article Bruce.  Just trying to stir the pot?  Can't defend against rebuttals?  What say you?

I am a Man I am Forty's picture

iPhone is selling great in China, media is full of shit including ZH, Citi is a bunch of dumb fucks who should be out of business.

iPad mini is sold out everywhere.

EclecticParrot's picture

Ah, well.   It's gotten SO easy to spot owners of the JAN 750 calls.

Just roll down to the APR 375s, and you'll be fine.

Go Tribe's picture

Citi - really good track record, those guys. Are they still working for the penny-stock company?

SanOvaBeach's picture

They are working for a fertilizer company.

Gmoney's picture

Citi - yep, really good track record, those guys.  They can't even calculate APPL's EV Enterprise Value within $100 billion of the true disclosed Enterprise Value.  "Net Debt" of "-$29 billion?"   Citi analysts are balance sheet challenged, that's why they helped crash the financial system