All these are boiler room operations (including big brokerages), the price targets and upgrades and downgrade are nothing but border line legal (not sure why this should be) manipulation of the stock prices.
Management and board ought to think about selling the company
Granted all the problems in South America, but this destruction is beyond anything I have see.
The earnings estimates have more than doubled. It is now trading at PE of less than 2 with forward PE of less than 4. Book value revised upwards huge, Puerto Rico risk does not seem like a huge risk anymore?
Reason #1 Apple goods are now 2% more expensive. Does it really make a iota of difference for rich chinese? No! In fact Apple manufacturing just got cheaper, so now instead of paying a chinese worker $1 per hour, Apple can pay him/her now 98 cents and still keep their Yen wages same. Apple has bigger stake in manufacturing in China than the market for Apple products
Reason #2 Watch sales are so..so. Is it really the news? How many times has this come out as 'new' news?
So both are lame reasons to sell AAPL. But there are a lot of lame people in investing world
Granted it is not their job to manage stock price. That is very true when markets are operating within the bounds of irrationality. When markets and manipulators act out of that bound, companies must defend their stock, otherwise the negative feedback loop will kill their stock and even business. Th stock price crash itself raises some doubts about the companies and shorts will often take an advantage of it.
This close to 40% crash in one day is beyond irrational given the circumstances.
Where the company and so called 'big investors'?
This is a disaster of epic proportions.