It's "May" in April

This recent Bloomberg "news" caught my attention.

Apparently, an analyst at Citigroup said that Apple may climb 52% in the next 12 months to a price of $248.

These analyst predictions happen daily on Wall Street, but to me, they're no more than noise. Just another distraction. And a great example of dumb investing.

Go ahead, click the link above and read the story again.

A couple of things that jumped out at me . . .

Of course Apple "may" climb 52%. It "may" climb 152% or it "may" go to zero. It "may" climb 1520%. It's unbelievable to me to think how much these analysts get paid to point out what something "may" do.

Also, why 52% or why $248. Why not go ahead and make a call to the penny or hundredth of a percent? I mean if you're going to put it out there, and if it's only a statement of what something "may" do, why not say it "may" hit a price of $248.17? Those extra 17 cents could really show this guy's skill -- but only if he's right on the money.

I don't have a problem with Apple and personally love their products. And I certainly don't have a problem with Mr. Gardner, the analyst who made this bold call. I just find it laughable -- that's all.

Everyone, have a great weekend!