People don't like lawyers and where Apple is concerned, no one likes Wall Street or tech analysts. And there are many reasons we hate them. And this Cult of Mac post documenting all the wrong predictions of one analyst, Peter Misek, is just so juicy. Dude has been more wrong than most Apple blogs. And for the blogs, they have a reason to traffic in rumors (which we don't do unless it is for a specific reason other than to spread them). Blogs rely on readership to generate revenues.
Analysts are to do what? You like to think they know what they are talking about but it's just been the opposite. Analysts often ask wrong questions if they were not stupid questions to begin with. They often bring attention to one data point and make absurd assumptions. What's worse is when they blame Apple for making them look stupid.
Also, they are like spoiled children - wanting things both ways as in the case of iPhones. Analysts had assumed that iPhone sales were weak, which they're not and Apple has trouble making enough to satisfy demands, so they believe Apple needs to make cheap iPhones. Then they go on to lament about falling profit margin.
So, if rumor-trafficking sites like the Cult of Mac thinks these guys are nuts, we want to take notice. I do enjoy reading CoM posts because they offer insightful analysis and speculations and juicy rumors (but not when the source is DigiTimes).
But this post shredding Misek's credibility is just awesome. The douche said Apple will be holding a media event to introduce an Apple TV SDK which The Loop already debunked.
Cult of Mac has more than five other Misek blunders worth reading.
Note: With these Wall Street guys, you have to wonder if they're really this stupid or if they're really pretty smart by looking stupid for the day when (or if ever) the SEC comes after them for stock manipulation.
Another Note: Sometimes, these Wall Street and tech analysts show frustration when the most successful tech company, or any company for that matter, doesn't take their suggestions. We should see that as a positive sign that folks at Apple know what they are doing.
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