Apple Stocks History: What’s Up with the Apple Downgrade? Info from Will Power of Robert W. Baird

Apple Stocks History: Earlier today, CNBC took a closer look at Apple Inc. (NASDAQ:AAPL)’s downgrade to neutral at Robert W. Baird.

So, who was the analyst behind the Apple Inc. (NASDAQ:AAPL) downgrade? That would be Will Power, senior analyst with Robert W. Baird.

When the interview gets underway, Power is asked if he feels “behind the curve?” Here is how he kicked things off:

“In all fairness, it is a bit painful. We have been defending the stock like many others on the way down here, on valuation, long term opportunity etc. You know, all of that said, we assessed the numbers and looked at consensus estimates and our real concern is that there is still downside to estimates and I think it is going to be tough for the stock to outperform in that environment over the next several months.”

After explaining why the downgrade was necessary and what he sees happening to Apple Inc. (NASDAQ:AAPL) shares over the next several months, the host follows up with a question prompting Power to talk about his main concerns:

“I think you are right. I think part of what we are trying to do here, Carl, is separate the stock from the company. I think as you look over the next two to three months, really the next several quarters, you’ve got further downside risk to estimates. You know, for the full year we’re close to $41 in earnings and the street is at $45. Even the March quarter, consensus is estimates are at the high end and our biggest concern is probably the June quarter.”

He then added the following about Apple Inc. (NASDAQ:AAPL):

“I think in an environment where estimates could continue to fall, that is going to make it tough for the stock to work, and I think it is going to remain under pressure here.”

The host then asked Power to talk more about the June quarter, more specifically, whether a product refresh at this time could help the Apple Inc. (NASDAQ:AAPL) stock find some “more stable legs.”

“Well, it is possible that we begin to get some refresh. I don’t think that is in most of the estimates, but that could be a potential upside if it were to occur. My better bet is that, you know, it falls into the latter part of the summer, depending on refreshes. And remember, we just went through a major refresh cycle just at the end of last year. So I think it is more likely that you see a refresh later on.”

What do you think about this interview with Will Power of Robert W. Baird? Do you agree with what he has to say about Apple?

Check back here for more updates on Apple Stocks History.

DISCLOSURE: I have no positions in any stock mentioned.

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