Apple Stock Price: Things are crazy right now in the world of Apple Inc. (NASDAQ:AAPL). Every analyst is saying something different, while investors worry about what tomorrow’s quarterly earnings report is going to bring.
Combine all of this with Apple’s stock price that is at its lowest level in more than a year, and you have a lot of worried people.
However, BGC may not be among that group. Instead, the firm may be seeing something in Apple Inc. (NASDAQ:AAPL) that others are missing.
In the CNBC video on the next page, it discusses the decision by BGC to upgrade Apple Inc. to buy from hold.
The host gets started by explaining that BGC sees the company’s recent weakness “as a buying opportunity.” While others may not agree, this is an interesting take at this point in time.
For more information on what the firm is thinking, let’s take a closer look at what Colin Gillis, BGC analyst had to say. He gets started with a “haiku poem” that provides both some information as well as some good laughs:
“Jump in the fire as any Apple good news could boost up the stock.”
Now, for the more serious side of the conversation:
“We have not had any good Apple news in 2013. And we are bound to get some at some point. Let’s talk about the March quarter. Did they negatively preannounce? No. So, it is going to be somewhere in the guidance range. We hope, and it is likely to be, otherwise the company would have negatively preannounced.”
The host then goes on to ask about Apple Inc. (NASDAQ:AAPL) not having to preannounce a quarter just yet, meaning they “aren’t that bad.” Here is how Gillis responded:
“Correct. But the June quarter, everybody says let’s put the March quarter aside, the June quarter is going to be tepid. It’s like, raise your hand if you don’t know the June quarter is likely to be weak. There is a problem that only 15 of the 40 analysts have lowered their number for the June quarter.”
As you can see, Gillis did not stop at this quarter. Instead, he jumped right past this and went on a rant regarding Apple Inc. (NASDAQ:AAPL)’s June quarter.
If you haven’t had the chance to check out this video of analyst Daniel Ernst discussing tomorrow’s call, you should do so before watching the Gillis interview in its entirety on the following page. It is like night and day.
Check out his comments in full: