iPhone

Submitted by Doug Kass via Seabreeze Partners,

"Remain calm, all is well."

--Kevin Bacon, "Animal House"

History is littered with very smart people saying very stupid things.

Here are some examples of quotes that their authors would like to take back:

• Global Bonds Gyrate as Investors Try to Parse Central Banks’ Next Stimulus Moves (WSJ)
• Republicans struggle to salvage healthcare effort (Reuters)
• States' Medicaid spending to increase (Reuters)
• Apple's iPhone turns 10, bumpy start forgotten (Reuters)
• Fed’s Stress Tests: All Banks Cleared on Payouts to Shareholders (WSJ)
• Bitcoin's Become So Volatile That It Looks Like a Steroidal ETF (BBG)
• They Built the First Phone You Loved. Where in the World Is Nokia Now?  (BBG)

• Global Bonds Sell Off, Sparking Fears of Further ‘Taper Tantrum’ (WSJ)
• Facing revolt on healthcare, GOP senators delay vote (Reuters)
• Global businesses dig out from latest cyber attack (Reuters)
• Companies Work to Contain Fallout From Cyberattack (WSJ)
• Cyber attack hits property arm of French bank BNP Paribas (Reuters)
• Obama Choked on Russia Long Before the 2016 Election (BBG)
• The EU May Need to Introduce a Bloc-Wide Tax After Brexit (BBG)
• iPhone Anniversary Edition Gives Analysts Pre-Party Jitters (WSJ)

As we noted first thing this morning, Mizuho downgraded Apple to neutral from buy, slashing its price target on the world’s largest company to $160 to $150 on the view that robust sales growth for the next product cycle has already been factored into the company's share price. Among other things in its report, Mizuho took a look at some of the company's key growth markets - notably India - to try and quantify the potential for sales growth in the coming years.

The Apple pile up continues.