Being wrong is right on wall Street

The Apple semiconductor analyst who keeps crying wolf
[Via Brainstorm Tech: Technology blogs, news and analysis from Fortune Magazine » Apple 2.0]

For clients of Susquehanna’s Christopher Caso, it’s deja vu all over again 

FORTUNE — Kudos to Asymco’s Horace Dediu for spotting the similarity between the two Barrons’ headlines at right, one from Dec. 20, 2012, the other from Nov. 11, 2011 — 13 months earlier.

Both are based on notes by Susquehanna semiconductor analyst Christopher Caso. Both warn clients that signals from his supply chain sources tell him that Apple’s (AAPL) iPhone 

[More]

So why does a guy who gets it wrong still have a job? I figure it is because he does what his masters want.

He brings down the price of Apple so they can load up before the quarterly results come out. So far guys like this have been able to drive down Apple’s stock 25% from its highs, all while it has increased its share of the American market by 17%, , sold 2 million phones in China. and released the iPhone in 33 countries in one day. They take bad news based on rumors and do their work. That is why they have a job.

Even someone who can be slimy, such as Jim Cramer, rips these analysts a new one.

But that is their job and they are well paid. And, you can bet, their work has been well vetted to make sure no SEC investigations.


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