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Zach Bass (a.k.a Ernie Varitimos) is Chief Bloviator of Investor in the Wilderness. He has 30 years experience as a Tech Maven, Investor and Consultant. Zach has been using Macs since their introduction in 1984, and investing in the markets just as long. His mission is to help guide all level of investors through the Apple Ecosphere and make sense of the markets. Zach's take on Apple, the markets, and life pursuits, will keep your mind tuned.

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Apple Antagonist Toni Sacconaghi Goes Out on Limb

July 2nd, 2008 • Related • Filed Under
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Yesterday (July 2), Toni Sacconaghi went against his usual Apple bashing modus operandi, and raised his earnings estimates for Apple to $5.27 from $5.17, and to $6.52 from $6.26 for FY ‘09. The consensus of all AAPL analysts is $5.20 for FY ‘08 and $6.36 for FY ‘09. Good on you Toni!

But wait, there’s more! Toni goes way out on a limb and raises his price estimate to $175 from $165. Whoo hoo! Now that’s really taking a chance, considering that AAPL has already breached that mark recently, and is only pennies away from it as I write this piece.

Toni reports that Apple may capture 15% of the U.S. cellphone market in 2009, and 6% share of the over seas market. Sacconaghi says, “These are impressive numbers given the iPhone remains positioned at the very high end of the mobile handset market.” Sacconaghi expects Apple to sell 8.5 million 3G iPhones by the end of this calendar year, and 19.5 million in ‘09. Those are pretty impressive numbers!

But I don’t get it. Why now Toni? Just a few of weeks ago you and your firm released a scathing study reporting that big company CIOs all over the world have no plans to even consider the iPhone for their business. What’s changed? Could it be that your customers are fleeing in droves because of the obvious blunder of positioning them against what may be the most disruptive and influential product in mobile computing history?

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  • taojones
    Zach, in a free country "everybody has a right to be wrong"

    in some alternate universe Tony is right ! perhaps he got bit by Ann Colter and is doomed to get attention by beating every cynical spurious argument he can twist out of his superficial "analysis" into the ground.
  • BMWTwisty
    Taojones sez: "perhaps he got bit by Ann Colter"[sp]

    Geeze, please at least Ann Coulter routinely makes a few points that are accurate. ToniToniToni is just clueless. Just like Eric, Elmer FUD and that other bald guy from The Steet.com - not goofy Cramer -(who, mercifully, we haven't heard from for a while).
  • mrtaxx
    Great article Zach. Toni Sacconaghi of Bernstein has been so wrong, he still is. How does he even have a job. At a $175 price target he has the lowest Apple price target.

    I hear Toni and Eric Savitz his buddy in bashing Apple are on a Safari hunting down Tigers , Leopards and those missing iPhones. I've heard they are keeping in iTouch with the rest of the world with their Mac's and iPhones. They arrived in Africa on the new Mac Air Airlines.
  • investor1990
    Remember what you said a day ago. Next support 158. Apple will hit that next. If not tomorrow, then next week.
  • jim
    He's a real felcher. Ask Eric.
  • lindseylohanscoinslot
    zach, do you know what a "felcher" is?
  • lindseylohanscoinslot
    Seriously, good article. Toni Tony Tone deserves 30 days in the electric chair of his choice. Godspeed, ern.
  • I was thinking of starting a rating system for Apple analysts. perhaps the measure could be the number of days of shock therapy required.
  • lindseylohanscoinslot
    sweet. Go for it. Seriously.
  • XamaX
    Maybe Apple now pays? Maybe nobody is paying for the moment? Wait until he changes his tune, then you'll know someone has reached him on his sweetspot
  • XamaX
    By the way, good blog Zach!
  • XamaX
    And very funny picture there, I just started laughing ahahahahah
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