This is typical.
Why just sell it, when you can OVERsell it on news which isn't really that bad.
Someone here wrote how Zacks messed up, and Zacks missed and blah, blah, blah. A bunch of clap-trap.
Zacks knew what they were doing, period.
They overestimated AFFX earnings by like $5 per share and then they were on the other end waiting to collect once AFFX got the beat down. I'd say they played it to perfection.
With all of the quarters that AFFX has had negative earnings, who in their right mind would REALLY put up a serious estimate of $7 per share earnings when most of the rest of the market was expecting what they delvered ($2 per share)????
You're right, the earnings for the quarter wasn't that bad and it showed a turn-around quarter (like one of the PR's called it); but all it takes is one clutching, greedy analyst and a local short-mob and suddenly good news is turned into bad.
Old story played out in other stocks as well. Any real suprise?
Welcome to the modern US equities market, where betting against everything is the ONLY game plan,.........
Hey! Shhhhh, for crying out loud.
This board wasn't always this way, and you're no Christopher Columbus.
There was a time when it was FULL of bugs, shorting bugs. They came, they saw, they gnawed on the price until we have what we have today.
Do you have any idea what happened in 2013? No one paid any attention to AFFX and it went up to the tune of 178% !!!
Good things can happen here as long as the bugs stay away.
Don't broadcast too much or too loudly and 2014 could shape up to as beautiful as 2013 was for AFFX.
This is really GREAT news. Looks like no one paid attention though. Thanks for posting.
If there is a moderate dip on AFFX, I'd buy for a hold until $11 or $12.
Here is the text:
S&P CAPITAL IQ REITERATES STRONG SELL OPINION ON SHARES OF AFFYMETRIX
(S&P Capital IQ)
We keep our 12-month target price at $5.00 but raise our 2013 EPS estimate $0.03 to $0.13. AFFX announces preliminary Q4 sales of $91M, including a one-time license payment of $5.3M from a diagnostic partner, ahead of our $83M sales forecast. We believe genetic analysis sales were robust with both cytogenetics and genotyping up in the high-teens, while the decline in gene expression continues to decelerate. We are encouraged by AFFX's expansion into the applied markets, but believe the shares, currently trading at 71X our 2014 EPS estimate are overvalued
They said "sell" for the entirety of last year and they were obviously wrong.
On trash street being wrong is just about as bad as being a #$%$.
So is S&P just satisfied to be wrong, or are they (more likely) up to something in maintaining their wrong rating on AFFX?
S&P is still calling for a target price of $5.00, yet they don't mind raising their EPS targets on AFFX.
That is just another thing which proves their view on AFFX is cooked. They also conceded that AFFX's instrument revenues were stronger than they previously estimated, but yet they still maintain a $5.00 target for the year.
They cannot be two things; they cannot be both right and wrong at the same time and so far, they have been mostly wrong.
I think that you have your answer now; don't you?
Is PACB rated to go to $11 this year???
PACB doesn't have Frank Whitney. Now do they?
The better question is: Are you really comfortable betting against AFFX?
Which is almost assuredly the case after your post ("just curious").
This was one of the quietest and best success stories of 2013.
For the year, shares are up over $5.50 each; the gain has amounted to (literally) 178% for the stock and company.
Frank Whitney deserves the hard-won credit for this here. He has been here less than 5 years total and it appears that he has created a successful turn around story here.
Way to go Frank and Affymetrix! After years of difficulty it is finally great to have something to cheer on with this great company. Looking forward to the success to continue in 2014. :-)