“Per Lindberg of Oslo, Norway-based investment bank ABGSC Sundal Collier yesterday published a rare thing: an initiation of coverage of Apple (AAPL) with a Sell rating and a $400 price target,” Tiernan Ray reports for Barron’s.
“Writes Lindberg in his lengthy report (102 pages), Apple's products ‘are no longer unique,’ phone companies are looking for alternatives, and customers are ‘suffering from ‘fashion fatigue,”” Ray reports. “‘For all its commercial success, marketing prowess and brand image, Apple is bound to enter a phase of much stiffer competition, far tougher comparisons, and, materially less generous operator subsidies,’ writes Lindberg.”
Ray reports, “Amidst a raft of problems - including ‘Microsoft getting its act back together with Windows 8′ - Lindberg sees substantially lower revenue and earnings per share in coming years versus consensus.”
Read more in the full article here.
MacDailyNews Take: Dude oughta analyze his own mental state - or at least a Windows 8 review.
[Thanks to MacDailyNews Readers "Nick P." and "Rainy Day" for the heads up.]