They Called It: Here’s Who Predicted Apple’s Big Stock Shock
- New Street, Goldman Sachs sent early warnings of Apple issues
- AlphaOne’s Dan Niles had cautioned about iPhone disclosures
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Apple Inc.’s forecast cut wasn’t a surprise to those investors that heeded advice from analysts and short-sellers who raised red flags as early as last summer, just as the iPhone maker’s valuation surpassed the $1 trillion mark.
New Street Research’s Pierre Ferragu stepped out as the lone wolf in late August to warn investors of a looming “air pocket” in demand. He cut his rating on the stock to sell, predicting “material disappointment” in 2019. That call was vindicated on Thursday as the shares plunged 10 percent in their worst drop in almost six years.