Analyst downgrades Apple Stock and withholds price target until he gets more information about Jobs’ health

Wed, Dec 17, 2008

Finance, News

CNN reports that an analyst at Oppenheimer & Co. not only downgraded Apple’s stock, but is withholding a price target for the stock until he finds out more information about the health of Steve Jobs.  This sums up to a tee why Apple made the right move in leaving Macworld, and why Steve Jobs astutley decided not to give the keynote presentation this year.  Jobs has already said that he’s in fine health.  Do these analysts want a health update from him every other week?

“Six months have passed since Jobs appeared at the Apple Developers Conferences looking drawn and unwell,” Reiner wrote in a note to clients entitled “One Scare Too Many.” “It’s past time for Apple to either disclose the state of his health or elaborate a viable plan for eventually transferring power. Until such time, we can no longer continue to recommend Apple as a long-term investment.”

Absolutely ridiculous.


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