On last week’s episode of The Talk Show I wondered why so many financial analysts say stupid things about Apple. Rene Ritchie provides a timely answer to the question:
Financial analysts don’t work for us. They work for their clients. They work for people who make money off of movement in Apple stock, either up or down. Financial analysts say things to move the stock so that their clients can buy or sell and make that money.
I still don’t get why Trip Chowdhry has an $800 target on the stock and he keeps bad-mouthing it but that’s why I don’t play the ponies.