“Betting against Apple has become a kind of bloodsport on Wall Street, and following the company’s earnings earlier this week, it bears repeating just how stellar these numbers were, and how extraordinary the opportunities are that lay ahead for this company,” Jim Goldman reports for CNBC. “All of which apparently completely disregarded on Wall Street today.”
Goldman writes, “So what’s happening? As near as I can tell, with the lukewarm reviews of the iPad, and so much wait-and-see going on, some investors might be worried that the tremendous revenue stream they were counting on may not be nearly as robust as they hoped.”
“But wait a second, it’s not like Apple is Palm or something,” Goldman writes. “iPad might be exciting, and important, and intriguing, and someday even compelling, but while we wonder and wait, Apple’s got plenty of other ways of making money.”
Goldman writes, “I’m no Pollyanna, and I don’t want merely to accentuate the positive. But facts are facts. Fundamentals are fundamentals. Digital music, digital video, digital books, apps, Macs, iPods, iPhones, retail, software, and yes, the iPad.”
Full article, in which Jim back up his point that “today’s plunge makes no sense,” here.
MacDailyNews Take: Why Jim seems to want to slam the doors shut on a fine deep discount sale is beyond us!
Nice take, dudes
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Duh!
Another thing I wonder is whether Apple defends its stock against the short attacking it. With $40 Billion they could easily buy stock to counter others selling it short and resell it later on the rebound. They do not even issue press releases to counter rumors. They seem not to defend the stock.
He’s right. Even if Apple never sold a single iPad, they’re revenue from Macs, iPods, iPhones, and the entire ecosystem will keep rolling in.
That’s “lie” ahead, not “lay”, Jim
I consider it a nice discount. I purchased AAPL again and this time, when the price inevitably goes up, I will purchase my new iPad with the gain!
Buying OP on AAPL!!!!!!!
Wall Street types and hedge funds almost always sell Apple after great news. No surprise.
Anyone who manipulates the stock market should be convicted of treason, have all their money taken away, and spend the rest of their lives behind bars or be put to death. And I am sugar coating it.
I think the downward pressure on the price is due to the rumor that the iPhone would come to Verizon, and when it didn’t, then the price fell.
Hope my stop losses don’t get triggered.
But I’m not riding it down to 78 again.
Worry about banks, jobs, politics, sovereign debt and a few other things maybe?
Manipulation in the stock, commodities and derivative markets is what got this country into its current mess. And traders keep playing the game.
I suggest sending anyone playing these games (this includes Madoff) to Guantanamo. Terrorist don’t only use bombs, they use financial markets too.
@Connor MacBook
Analysts lie ahead, but Jim is quite right about the opportunities that lay ahead. To lay an egg, to lay a table, to lay down: these are the correct usage. To lie is to tell an untruth; and though it seems to have passed into common usage as a replacement for lay, it is still an incorrect usage.
Magic Word: “iPad,” as in, iPad my portfolio with Apple stock.
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I guess it is finally time for those die hard Verizon people to wake up and jump ship – Face it these devices are NEVER coming to Verizon and their proprietary CDMA system
And it was up over $7 in after hours trading, now it’s down half a buck. Go figure.
If you’re a long-term investor, it does not matter. Once the “short-sighted” investors get out of the way, and the general market does not crash for some unrelated reason (like last year), AAPL will easily climb up to $300 (and beyond). It would have gotten there even without an iPad in the lineup, but once the iPad is unleashed to real consumers, common sense will take over regarding its potential.
Most people who bought a “netbook” as a small computing device for web access will want an iPad instead. Anyone who still carries around a paper-based organizer will want to give it a try. People who want to work/play on a plane or other cramped quarters, will find iPad desirable (compared to a full laptop); it will be a huge hit in Japan, I think. Gamers will see how much better it is, compared to other mostly single-purpose portable gaming systems. And if the iPhone was already popular in business-related applications, iPad will be an order of magnitude more useful and flexible.
The iPad target market cuts across so many areas, how could it not be successful. It will make iPhone and iPod touch look like a warmup exercise.
In June when the iPhone 4 has the A4 processor, and Apple previews the new multitasking iPhone OS for the iPhone, Touch, and the iPad, and when people actually get their hands and play accelerometer games on the iPad..we’ll see the high of 250, unless political disgust brings it down.
Take each drop as a buying opportunity. The reviews from tech rags are great; analysts, who don’t know jack about what practicality combined with user experience look like, or how to actually future(v) tech, are the one’s with the luke warm reviews. And really, the shorts are just playing the usual game of pulling the stock pack so it can fly forward to their benefit as well. BUY, don’t sell. Don’t even hold.
250 is my low-ball, rounding down figure…hey, maybe I can be an analyst.
This has absolutely nothing to do with Apple. The traders are making money by manipulating the market. They come up with some nonsense trade speak to trigger a fall:
Quote” I heard some analysts talking about the lack of catalysts left in the Apple playbook, now that we have an iPad to consider. The classic of buying mystery and selling history.”
I’m sure there is collusion amongst the traders to ensure that they all profit from the market swings. Some one initiates a drop and profits from the fall, whilst someone else picks up the stock cheap and start pumping it up again.
The stock market is supposed to be about risk. It seems to me that the only people taking a risk are the average man on the street. The traders have got the business all sown up.
Although I was initially left underwhelmed as I read the updates of this Wednesday’s event, I have had some time to think about this product and now I can’t wait to get one. Over the past 2.5 years, I’ve gotten used to the small iPhone display, but I think a larger display would be great. I look forward to having a couple in the house that can just be picked up whenever we want to check something out – with a decent sized screen. I also have parents (in their mid-70’s) that have never had a computer and would probably be able to operate an iPad. Would be much easier to send photos/messages to them this way.
madoff only serviced people that were trying to make a fast buck – if they didn’t know madoff was up to know good, they should have….the only entities that consistently receive the kind of returns that madoff’s customer received are the government and the crooks
A bunch of stocks are down this Friday, e.g. MOT @ -5.09%, MSFT @ -3.36%, Dell @ -2.86%, RIM -2.62% at close, with Apple, down 3.63%. Interestingly, Amazon was down only 0.49% and Google was off a mere 0.81%. Apple’s drop has evidently nothing to do with its financial prospects, and a lot more to do with the SEC’s failure to ban short selling, naked or otherwise.
Does anyone think the morons on Wall Street, who obviously owe their jobs more to networking and nepotism than merit, who crashed the economy have an effing clue?
I don’t and my retirement fund and investments are the better for not having listened to them.
Where so much reluctance to something new. This is something new and have not criticized endlessly appreciated.
asigurari auto