The paid financial analysts from the big banks and advisory firms have capitulated and raised their targets.

Apple (AAPL) Analysts Top 10 Ranking – Philip Elmer-DeWitt 

The evidence is clear. They have all capitulated and raised their targets on Apple, after the fact. Their collective predictive power is inversely proportional to the size of their paycheck and influence they have with the financial media and talking heads. Just look at the report recently put out by Philip Elmer-DeWitt of Fortune. It clearly shows that the independents were much more accurate than the quote “Professionals.” And this isn’t an isolated occurrence, this is par for the course baby!

Fortune – Philip Elmer-DeWitt 

Take a close look at this chart. The analysts in green are the amateurs, not getting paid to do what they love to do. And by and large , they have real industry experience. The analysts in blue are the highly paid professionals, or hacks would be a better term. They are at the bottom of the pack. They get paid more, get the recognition, yet are worse at predicting Apple’s fortune.

This is largely due to the fact that the “Pros” have no industry experience, just the backing of a company with a lot of money, trying to make you into listening to their opinions.

Am I angry? No. I’m just telling you how it is. I’m pleased as can be that Apple has once again shown what fakers these paid analysts are. What I’m mad about is all the new upgrades coming across the wire. Where were these guys last week, last month?