October 19th, 2011 // 2 Comments
Filed: Tech
That’s the headline on the article I posted on the Daily Beast last night after Apple reported its earnings. Gist is: Everybody take a deep breath. Apple turned in amazing numbers. The forecast for holiday quarter was strong. The stock hasn’t bounced back yet, but it will. Also keep in mind that Apple didn’t miss; Wall Street did. Apple forecast $25 billion in revenues, and beat that by quite a bit. The number that Apple “missed” was the Wall Street consensus. To be sure, in past quarters Apple has always underestimated its numbers, so you can’t blame Wall Street for starting to expect more than what Apple tells them to expect. Fingers crossed on the holiday quarter, but I’d bet it will be a barn-burner.
I have always been intrigued by the analysts and market essentially punishing companies not because the company didn’t hit their projections but because the “experts” were wrong in their projections.
being i bought my apple stock at $16 & $35… who the fuck cares? {lights a beeeg ol’ cohiba with a $100 bill while swilling a brandy snifter around}