In November 2008, its editor (Andy M. Zaky) firmly and accurately publicly predicted that the equity markets would bottom in March 2009 marking the end of the financial crisis. In March 2009, when the vast majority of wall street had sell ratings on Apple — some with a $70 price target — Bullish Cross announced its second ever buy rating on Apple for “any price in the $90 a share range” and a strong buy rating for “anything in the $80 a share range.”
While the vast majority of Wall Street analysts either held very low price targets on the stock, Bullish Cross held a 2-year $230 price target on Apple. In March 2011 — exactly two years later — the stock reached a high of $360 surpassing the price target by 56.5%.
Bullish Cross has also made significant top calls in the financial markets. On April 26, 2010 — the actual day the stock market topped ahead of a 20% summer correction — Fortune ran a piece on Andy Zaky’s prediction for a catastrophic selling event coming in May.
In the article, Zaky warns of a major summer correction and a potential record-breaking sell-off in May. This came at a time when the market continued to make new highs on a daily basis in what was then known as the melt-up rally. There were no obvious signs of turmoil ahead. Yet, despite of the complacency on Wall street, here is what Zaky had to say:
“This market has all the earmarkings of a major sell off. No one is hedging their positions and the market continues to grind up on zero volume and with continued outflows from equities and inflows into treasuries. I’ve generally been a bull, but I’ve never seen anything like this. The scariest part of this is the lack of insurance buying to hedge positions. This can really cause a catastrophic event if the whole market is long and unhedged. I wouldn’t be surprised to see September-October 2008-type selling in May.”
In the article, Zaky explains that Apple would see a major correction over the summer that would bring the stock down from the high $270′s to the low $200′s before a big move to $375 to $400 before the close of the secular bull market. He was the first on Wall Street to publish a $400 price target in a well circulated piece at Fortune.
Bullish Cross also publishes fundamental analysis and earnings forecasts unmatched by any analyst on Wall Street. For over 22-reporting periods, Bullish Cross far outperformed every Wall Street analyst in every single quarter in predicting Apple’s quarterly and yearly earnings with an over 95% accuracy. In recent quarters, that margin of error has dropped to a combined total of only 3% in predicting both revenue and EPS — raising accuracy levels to nearly 97%. Recently, Bullish Cross has expanded its offering to including more in-depth analysis for funds and investors looking to capitalize on the material at Bullish Cross.