Peter Misek Heart AAPL

Tyler Durden's picture


The reason the market is up today? Jefferies' Peter Misek hikes his price target on Apple from $800 tio $900 (the same AAPL which is now supposed to grow almost exclusively in China, and where as Apple Insider just reported "China's second-largest carrier may end contract sales of Apple's iPhone"). Yes, middle market, $100-$200MM high yield bond issuer Jefferies has an equity research group. And yes, after working at JPmorgan, Scotia, Orion, Alpcap, and Canaccord in the past decade, Misek finally has found a place he can call home (for more than 2 years), or at least until the next bonus renegotiation-cum-upgrade option time. And yes, Jefferies actually is moving the volumeless market for the first and only time ever courtesy of 1.000 implied correlation between the NASDAPPLEURUSD. Which is great. Maybe Misek will be right here.,, Unlike his calls on DragonWave for example, where he was buying all the way from $7 until $2, in the interim moving his Price Target from $9.00 to $3.50 to $10.00 to $3.00. Peter likes even numbers. He keeps it simple, except for his $699 PT on AAPL back in March- why $699? "It's one iPad." Sometimes he likes it complicated.

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Fri, 08/17/2012 - 10:52 | 2714117 lizzy36
lizzy36's picture

When RiMM hit lifetime high in 2008, Misek raised his target to $180. He showed RIMM the love for almost its whole round trip.

Misek is the best example of a sell side whore the industry has. Adding value to ONLY himself. 

Fri, 08/17/2012 - 10:56 | 2714128 diogeneslaertius
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bonus pretzel for use of the phrase sell side whore

Fri, 08/17/2012 - 11:58 | 2714188 Precious
Precious's picture

Steve Jobs is dead.  Attention to detail is falling.  The cracks are already starting to show.  Tim Cook's next software release will be "Cowardly Lion" followed by "Save the Cat".

Apple will lose against Samsung.  Apple's claims are a joke.  

Individuals can make a difference.  Jobs made a difference.  He's gone.

Fri, 08/17/2012 - 15:43 | 2715034 TruthInSunshine
TruthInSunshine's picture

AAPL is most definitely too big to fail now, bitchez.

In fact, at least until November of this year, I'd argue that it's too big to fall (eat your heart out, Sir Isaac Newton).


AAPL is the ultimate metaphor in the new 'human condition,' where cheap labor, now being replaced by automation to an ever higher degree (beware ant-like worker of FoxConn), is used to produce discretionary products, mostly used for playing games, posting updates of one's opinion on trivial pursuits on Facef*ck, or surfing porn, by those who face a grim economic future, ironically due in part to their desire for stylish gadets to pursue such things in the greater leisure time their new economic dis-prospects have granted unto them.

Fri, 08/17/2012 - 11:18 | 2714182 geewhiz190
geewhiz190's picture

AAPL's reaction is more important than the comments.  with numerous hedge funds paring back last quarter, why would they be motivated to buy more close to new highs? the whole notion of price targets is nonsense

Fri, 08/17/2012 - 14:06 | 2714773 oddjob
oddjob's picture

Hence the name Peter the 'missile'

Fri, 08/17/2012 - 10:54 | 2714120 Dalago
Dalago's picture

Did In-Q-Tel invest in Apple as well?

Fri, 08/17/2012 - 10:55 | 2714121 AlphaDawg
AlphaDawg's picture

Pump and Dump

Samsung going to put too much competition on this resulting in lower profit margins.

Good company, crap share

Fri, 08/17/2012 - 10:56 | 2714123 diogeneslaertius
diogeneslaertius's picture

and now, a question of etiquette - as I pass, do I give you the ass or the crotch?

Fri, 08/17/2012 - 10:56 | 2714127 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

$642.78. <s> Timberrrr! </s>


All that matters is the tape.

Fri, 08/17/2012 - 10:58 | 2714135 realtick
Fri, 08/17/2012 - 11:05 | 2714151 Sofa King
Sofa King's picture

A brilliant Trend Trader I know once said to me, "You ever wonder why the first four letters in Analyst is Anal, cause that's were you'll get it...if you follow those ass-clowns." 

Fri, 08/17/2012 - 11:27 | 2714212 jiggerjuice
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Analyst-therapist portmanteaued into... Oh I think I just blue myself.

Fri, 08/17/2012 - 11:05 | 2714152 Monedas
Monedas's picture

Cheer leader whore pushing people into the showers for their sniff of gas !

Fri, 08/17/2012 - 11:05 | 2714153 Dr. Engali
Dr. Engali's picture

I'm callinig it right here right now. Apple is going to top out at  $1172.533332 so load up now.

Fri, 08/17/2012 - 11:07 | 2714159 tawse57
tawse57's picture

Please, please, please will this market finally crash.... I mean, CRASH. Not just 105 but a good 20% or more. It is absolutely nuts.

As an ordinary retail investor trying to put money aside for my pension I feel completely and utterly screwed. The fundanmentals about the economy are bad for the past year or more... the corporate earnings have been poor... and yet we have this almost sky-high stock market.

Feels and looks like a massive set-up scam to fleece retail investors IMPO. But I am losing hope that this market will ever correct yet alone crash.


Fri, 08/17/2012 - 11:13 | 2714165 AlphaDawg
AlphaDawg's picture

You could be waitin a long time, ride the PM bull market and bounce back into equities when stox eventually bottom.

Fri, 08/17/2012 - 11:15 | 2714173 tawse57
tawse57's picture

But gold and silver have been range bound with lower highs and lower lows for several months? Now today there is news out of India that Indian buying of gold has fallen considerably.

With China's economy contracting isn't the industrial need for silver and the speculative purchase of gold going to dry up?

Fri, 08/17/2012 - 11:21 | 2714189 AlphaDawg
AlphaDawg's picture

I hear what you r saying chief.

Looking at the soverign debt that needs to be rolled over on and on again, they will have to print or default, no other option. Historically they print, or change currency.


Once they have printed enough, to devalue currency and increase tax revenues, stox might look more interesting.


The S&P has an average PE of 17 according to ZH, so its not really that overpriced, especially compared to bonds yielding 1.6%.

Fri, 08/17/2012 - 11:34 | 2714224 AlphaDawg
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If you want to down vote me, please explain why? I am here to learn

Fri, 08/17/2012 - 11:42 | 2714242 tawse57
tawse57's picture

I didn't down vote you - here trying to work out what is going on and am interested in healthy debate on how to make money other than the repetitive and tedious "gold b*tchee!" or whatever is said.

I would welcome more debate on what people think the DOW si doing, why it is so high and whether it is going to fall over or not. Surely it cannot keep climbing like it has done?

But then 8 months ago on here people were saying the DOW was about to crash and it has just climbed, climbed and climbed ever since.


Fri, 08/17/2012 - 12:12 | 2714326 AlphaDawg
AlphaDawg's picture

Looking at this

I get the impression stocks are relatively fairly priced.

Obviously macro economic data is weak, so in a way there is not a great outlook, but as of now, i think stocks are neither too dear or too cheap.

I personally am training to be a tax advisor so when i retire i can do some home jobs as part of my pension. Accountancy for people and smes is also a good option and cheap to do cost wise, time expensive.

A good trade is better than investing in my opinion, with the global economic and situation strained at the moment, wealth preservation is more important than creation, i believe. Thats why I like physical assets.

Fri, 08/17/2012 - 11:16 | 2714177 DavidC
DavidC's picture

Errm, yes, and when, precisely, do you think that bottom will be and what it will be? I really think we're going to see Dow at 3,500 before this is over.


Fri, 08/17/2012 - 11:23 | 2714199 AlphaDawg
AlphaDawg's picture

Who knows when man? Could be 5 - 10 years.

Stocks are not the problem, its sov debt

Fri, 08/17/2012 - 11:25 | 2714205 fonzannoon
fonzannoon's picture

If the dow hit 3,500....even's over. The lawsuits against 401(k)s and the redemptions from brokerage accounts would overwhelm the market and the "stock market" would cease to exist.

Do you ever hear how desperate CNBC is to talk this market up at 13k? Imagine how they would sound at 5k...

Fri, 08/17/2012 - 11:32 | 2714219 Chump
Chump's picture

Lol, just had a mental image of Becky Quick et al with their baps out and Liesman in a clown suit sitting in a dunk tank.

But yeah, 5K wouldn't even be reached before the wailing and gnashing of teeth started in earnest.

Fri, 08/17/2012 - 11:16 | 2714176 Precious
Precious's picture

Find a market that has crashed already. You live in a global economy.  America is not the last and only word.

Fri, 08/17/2012 - 11:58 | 2714280 tawse57
tawse57's picture

It is the world market though - for when the DOW crashes it takes the rest of the global markets down with it.

When the DOW goes down there will be no safe markets around the world. Percentage wise all the other markets will probably lose more than the DOW does.

Fri, 08/17/2012 - 11:11 | 2714166 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Yeah man. Everybody's got an opinion, right?

Express Yourself.

Fri, 08/17/2012 - 11:13 | 2714170 asteroids
asteroids's picture

For the love of God... BUY BUY BUY!

Fri, 08/17/2012 - 11:14 | 2714171 DavidC
DavidC's picture

Who the hell is going to buy Apple at it's all time high with the results it had recently and people like Samsung champing at the bit? AND Tyler's link to AppleInsider above? Morons?


Fri, 08/17/2012 - 11:23 | 2714190 HD
HD's picture

I bought I Nexus 7 recently - Google has quite the locked down ecosystem that goes far beyond just selling media. You have to "root" the N7 to get away from Google looking over your shoulder but I suspect most people won't. Google is becoming a conglomerate and in the end Apple is still primarily a widget maker that sells music and movies.

I don't have a position in either company but it looks to me like Apple got in first but is not prepared for the level of competition it will face in the next few years...

Fri, 08/17/2012 - 11:55 | 2714270 Spastica Rex
Spastica Rex's picture

Widget marketer.

Fri, 08/17/2012 - 11:22 | 2714195 energizer
energizer's picture

Zero Hedge at his best!!!!!

Fri, 08/17/2012 - 11:23 | 2714198 orangegeek
orangegeek's picture

Apple is part of the NASDAQ100 and the SP500.


NASDAQ100 is showing wave 2 top.  Wave 3 down to follow.


It is possible that Apple will trend up as the markets trend down, but it's not probable.

Fri, 08/17/2012 - 12:12 | 2714333 Randall Cabot
Randall Cabot's picture

 "We expect the next move down, wave 3, to be punishing and carry well below 2400 very quickly."


Fri, 08/17/2012 - 11:31 | 2714200 jiggerjuice
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China's second largest carrier is... China Unicom. 20% market share. Pretty worthless. China Mobile is the largest, state-sponsored, and subsidized carrier - it controls 70% - or 655 million people. Dropping Unicom is the stateside equivalent of Apple dropping... TMobile. China Telecom being a distant 3rd, at 10%. Cricket Wireless.




It's really all about China Mobile.

Fri, 08/17/2012 - 12:01 | 2714246 Cult_of_Reason
Cult_of_Reason's picture

I agree 100% that Jefferies' Peter Misek is a lowlife Wall Street filth.

But I disagree with the stated reason for the market being up today -- correlation does not imply causation -- maybe this is an excuse to send algos to mark up ES and SPY, but not the actual reason (if it were not for this bogus upgrade, they would use another excuse as "better than expected" UofM Confidence or that Merkel said she agrees with Draghi to have conditions or whatever...)

They know that the shorts are terrified by constant Fed/ECB threats to print money, and the bears are reluctant to sell anything before Bernanke JH speech and multiple important EU meetings; so they know they CAN push stocks higher without much resistance (and they can use any different daily excuse to squeeze the shorts and to mark up the stocks).

Note, how they do not allow any pullback -- this is done intentionally to keep the shorts "trapped" and force the shorts to cover.

Fri, 08/17/2012 - 11:50 | 2714254 warezdog
warezdog's picture

Apple is today where RIM was 6 years ago and will be where RIM is today in another 5

Fri, 08/17/2012 - 12:00 | 2714287 Inthemix96
Inthemix96's picture

Looks like the opening IPO for apple might even turn into a lemon for some.

Oh dear, a fool and his money.......................

Clownanomics folks, theres one born every minute

Fri, 08/17/2012 - 12:05 | 2714309 ebworthen
ebworthen's picture

iPhone 5 to take Apple to $1,000, Ghost of Steve Jobs App pivotal, buy-buy-buy!

Fri, 08/17/2012 - 12:17 | 2714352 css1971
css1971's picture

The iPhone 4.2 is on the way soon, all iPhone 4.1 owners are going to upgrade!

Fri, 08/17/2012 - 15:46 | 2715082 vbone
vbone's picture

who cares what peter misek says.   hes no fortune teller

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