It turns out that a $1,111 Apple (AAPL) price target may not have been the most realistic projection. Fortune has just released its latest rankings of Apple analysts and has found that many of the more traditional Wall Street analysts who typically project conservative price targets for Apple shares have been doing better in recent quarters than many other analysts who made names for themselves correctly projecting sky-high Apple earnings in 2011 and early 2012. Or as Fortune puts it, “team Wall Street… has staged a comeback, taking eight of the top ten spots — spots that used to all belong to the amateurs.” In fact, only two amateur analysts are now on Fortune’s top 10 list: Turley Muller of Financial Alchemist, who was ranked third, and Luke Kittell of The Braeburn Group, who ranked seventh. The top two overall financial analysts in Fortune’s list were Colin Gillis of BGC Partners and Walter Piecyk of BTIG.
As irrational exuberance fades, Apple skeptics make a comeback
Published Feb 18th, 2013 1:35PM EST
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Brad Reed has written about technology for over eight years at BGR.com and Network World. Prior to that, he wrote freelance stories for political publications such as AlterNet and the American Prospect. He has a Master's Degree in Business and Economics Journalism from Boston University.
