OT: Apple Earnings up 31%
by walter biscardi
on
Jul 21, 2008 at 9:19:38 pm
Apple even beat Wall Street's forecasts. They shipped 41% more Macs this year than the same quarter last year so the spillover from the iPod and iPhone is definitely taking hold.
Re: that's great, but by rich krysz on Jul 22, 2008 at 5:59:28 am
their stock price was already priced high. so since their outlook wasn't as exciting as some wanted, the price went down. the stock price is still priced for growth despite the after hours sell-off. may be a good time to pick up more shares. but i'm waiting it out since Wall Street seems to be in trouble at the moment
Re: that's great, but by rich krysz on Jul 22, 2008 at 6:06:21 am
for example...their P/E ratio is in the low 30s. microsoft is at 13 and dell is around 17. for tech stocks, the average should be around 15. so apple will fall a lot if anything negative is in their outlook.
Re: that's great, but by Chris Babbitt on Jul 22, 2008 at 3:42:34 pm
Plus, there is great concern over Steve Jobs's health. He looked thin and gaunt at his last keynote, and he was nowhere to be found and yesterday's event. Apples's performance is very much tied to this one person, or at least that's the way it is perceived on Wall St., and there is no apparent succession plan in place.
But Wall Street (and that sorta means me because I am a mini-player in that world) has always been wary of the Great Apple Leader because he is so eccentric and - well - a bit nutty.
He's clearly a visionary and a leader, but the Street doesn't like a company which is forced to insure the life of its CEO for a vast yearly sum - like Bob Shaye used to be at NewLine.
It's just not happy street thinking.
Apple stock has run up so much over the last three to four months that it's difficult to imagine that there will not be a pullback. You know the saying: "Buy on the rumor, sell on the news"
Stick your money in an ETF like KOL (coal)! or maybe natural gas.
