MacDailyNews - Where Mac news comes first

Apr 08, 08 - 08:28 am Comment from: IEEE1394®

What a fscktard.

Good Take, MDN.

Apr 08, 08 - 08:28 am Comment from: silverhawk

We'll see what happens on the 23rd. Hopefully 3Q guidance will not frighten wall street.

Apr 08, 08 - 08:28 am Comment from: TowerTone

No big whoop. My girlfriend downgraded me the same way....

Apr 08, 08 - 08:30 am Comment from: dd

Oh, let these moron analysts downgrade Apple a little bit longer so I can get a bit more shares for my money. This guy probably still believes Apple will be going out of business in 1998.

♪♫♪♫
La la la la
Eric Willard is a moron.
Billy Gates is a moron.
Steve Ballmer is a moron.
Tavis McCourt is a moron.
♪♫♪♫

Apr 08, 08 - 08:33 am Comment from: Buster

They got some external expert information on this....from Laura Goldman.

MDN: "ginned up election year efforts to talk down the economy"

Who writes this stuff? Rush Limbaugh?

We lose 220,000 jobs in 3 months, have the worst housing decline in decades, and the dollar is lower than it has been in decades, and someone's making all this up?

You're fscking delusion, man.

Whether it will affect APPL is one thing, but to deny it is just foolishness.

Apr 08, 08 - 08:40 am Comment from: Journo

username,

Follow the asterisk:

Ginned up election year efforts to talk down the economy*

*Which, of course, can become self-fulfilling prophesies

Say and print "recession" enough and you can create one. This happens almost every election year from the opposition that are trying to get a change of party in the White House.

So, this year, blame the Dems for the so-called "recession."

Citing projected economic weakness (which is possible... though I think concerns are overblown as well) is at least a defensible position. Contrast with all the "ipod and iphone are dying" bs at the beginning of the year... which were both wrong AND failed to mention amazing growth in Apple's most important and profitable business.

But really... it's all a process to get the stock out of weak hands and into those who deserve the ride up.

Whether they are right or wrong, it brings AAPL down. If they are wrong, what brings them down??...NOTHING!!! There should be some penalty for analysts being wrong.

Apr 08, 08 - 08:45 am Comment from: TowerTone

usename
There all always some bad details in the economy, no matter how 'smooth' it may seem to be going. There are some big ones right now

Just like a family car on a vacation, you try to keep in mind all that can go wrong, but you may still have a blow-out. This doesn't have to derail the trip, you just need to fix it, don't bitch at the wife and kids, and go on.

I just hope the Fed remembers to tighten the lug nuts....

Well I guess time will tell who is right and who is wrong. Perhaps a couple of quarters will give us the truth of the matter.

Apr 08, 08 - 08:45 am Comment from: Petey

Buy Buy Buy APPL!

Apr 08, 08 - 08:49 am Comment from: shen

"Say and print "recession" enough and you can create one"

while that is in fact true, the raw econ data says you are a moron in this case. i have the advantage of hanging out with economists on a regular basis, and the simple fact is that bush and his ecoli conservativism have created a near perfect market storm. several of the top economists for the fortune 100 company my wife works for are amazed by the feds ability to have held off disaster as long as they have. we came dangerously close to great depression take 2 in the last few months.

Apr 08, 08 - 08:51 am Comment from: HolyMackerel

He would be right if the Mac and PC were 'complementary' goods (cars & petrol), but they are 'competitive' goods (cars & public transport).

As the PC makers predict woe, it might be that Apple is eating their lunch.

"election year efforts to talk down the economy"...yep, that's straight from the Democrats' playbook. McCain certainly isn't pandering to the electorate with that crap. F Obama and Hillary.

The liberal media repeats all of the Democrat talking points word for word no questions asked. They hate Republicans and will do and say anything to beat them. They even hate each other which is fun to watch with Hillary and Obama. The liberals would ruin the economy to get their person in office. The sad thing is they will ruin this country and the economy with their out of control liberalism. They want to make the US a socialist or communist country. They are out of their minds.

"Morgan Keegan downgrades Apple to ‘underperform’ "

Who cares what they think. I want Zune tang's take on Apple not Morgan Freeman's.

Apr 08, 08 - 09:03 am Comment from: ron

Proud American and legal immigrant. Yeah, what Proud American wrote.

Apr 08, 08 - 09:03 am Comment from: effwerd

Fscking incredible. It's just amazing the contortions you fscking retarded neocon cheerleaders put yourselves into to blame the Democrats for whatever bullshit the retarded necons in control got us into. Add some sword swallowing (a favorite hobby of conservatives, I hear (not that there's anything wrong with that)) and you guys could take your show on the road and make some money.

Apr 08, 08 - 09:03 am Comment from: Anonymous©

Never even heard of Morgan Keegan. Never heard them on any Apple conference call.

Apr 08, 08 - 09:07 am Comment from: 7over

Moron Freakan are just mad at themselves for missing this upswing and are trying to create a buying opportunity. ... for themselves and anyone else who can see it for what it is.

Time to buy some more AAPL.

I remember when Steve Jobs faced recession back at the start of the century. He didn't deny it, he didn't pooh-pooh it, or anything like that.
He looked it straight in the eye and said, "We will innovate our way through it!"
And that is just what he and Apple did.
They will do it again.
Plus, analysts often forget that during hard times, the entertainment industry flourishes. Apple has a big bite in the that industry.

MDW "required" as in innovation is required

From "Proud American":
"The liberal media repeats all of the Democrat talking points word for word no questions asked. They hate Republicans and will do and say anything to beat them. They even hate each other which is fun to watch with Hillary and Obama. The liberals would ruin the economy to get their person in office. The sad thing is they will ruin this country and the economy with their out of control liberalism. They want to make the US a socialist or communist country. They are out of their minds."

Now that's delusional.

Apr 08, 08 - 09:15 am Comment from: Zeke

Morgan Keegan's track record is a bit suspect:

"Mark & Associates, P.C. is representing investors who lost money investing in two Regions Morgan Keegan open end bond mutual funds, the Morgan Keegan Select Intermediate Bond Fund (RIBCX) and the Morgan Keegan Select High Income Fund (MKHIX). Year to date, the Morgan Select Intermediate Bond Fund is down 50.5 percent and the Morgan Keegan Select High Income Fund is down 59.7 percent. Mark & Associates, P.C. is also representing investors in several Morgan Keegan closed end funds: RMK High Income Fund (RMH), RMK Strategic Income Fund (RSF), MK Multi Sector High Income Fund (RHY) and RMK Advantage Income Fund (RMA). These closed end funds have lost a tremendous amount of value, with some trading 75% below their 52 week highs."

They may wish they had kept their heads down.

I seem to recall that when Clinton left office there was a projected surplus. Ill-conceived tax-cuts that benefits mainly people with 7-figure income, an ill-conceived and incompetently conducted war, and a lack of regulation are products of right-wing ideology. Greed isn't inherently self-regulatory. Who could have imagined that?

I'd sy this guy has a good point. There are larger forces at work, and it's not such a bad idea to be cautious.

Mac growth has been doubling the PC market for quite sometime now and will only grow further as Microsoft has just announced its latest OS won't be available for at least another 3 years.Do we see anyone downgrading MS because of this? No, because they just don't get it.This is just more manipulation of Apple's stock when it should have passed the $200.00 a share mark long ago. Analist's as I call them have no clue even when things are totally obvious.

Apr 08, 08 - 09:30 am Comment from: Spark

Keegan no good.

"creeping competitive threats" to the iPod?

Maybe some market saturation will level off sales, but not competition.

I'm not really sure how Morgan Keegan gets hit with "second-tier"...I guess Bear Stearns is an example of a "first-tier" firm? I do feel quite certain that the staff at MDN haven't bothered to actually look at the analysis done which led to his conclusions - that being a review of the spending trends of those consumers most likely to purchase Apple products. They tend to be the higher-end more affluent spenders along with young people (high-school to 24) who have some discretionary spending. The last few reports I saw from the "first-tier" firms like JPMorgan and Lehman would indicate that there is a marked downturn in this type of spending based on credit card receivables for the quarter ending on April 1. The trend should only strengthen as teens finish school for the summer only to find no jobs for them, leaving them to choose between "must-haves" such as gas for their cars and clothing vs. "wants", such as a new iPod or even iTunes downloads. Its quite funny to see MDN and the posting trolls jump all over anything that is even mildly critical of Apple. Did anyone actually read what he said or just the MDN spin:

"'We believe the company will still take share in its Mac and iPhone product lines...."

"Additionally, we are slightly lowering our iPod expectations given the likely economic sensitivity of this product line..."

He's basically saying that relative to others in the field, Apple continues to dominate their markets, but that the field as whole will slow down. In other words, Apple remains on top - just that they will be hit by the same forces that EVERYONE will get hit with.

And as Zeke pointed out...

"Year to date, the Morgan Select Intermediate Bond Fund is down 50.5 percent and the Morgan Keegan Select High Income Fund is down 59.7 percent. Mark & Associates, P.C. is also representing investors in several Morgan Keegan closed end funds: RMK High Income Fund (RMH), RMK Strategic Income Fund (RSF), MK Multi Sector High Income Fund (RHY) and RMK Advantage Income Fund (RMA). These closed end funds have lost a tremendous amount of value, with some trading 75% below their 52 week highs..."

Compare that performance with similar competing funds at Fidelity or T. Rowe Price and the Lipper Average. He actually beat all three. Just like the the MDN take, we just quote random facts on here and disregard relativity.

Maybe you guys could update the website to "www.macdailyapplecandonowrongblogthatposesasanewsite.com"

At least then you'd tell people what they're actually going to see when they visit.

Peace Out - A-Town.

Apr 08, 08 - 09:35 am Comment from: mr_matalino

Someone owns MSFT shares...

Or DELL

@Proud American:

The neocon media repeats all of the Neocon talking points word for word no questions asked. They hate anybody who isn't Neocon and will do and say anything to beat them. They even hate other Republicans who don't goosestep with them, which is fun to watch with so-called evangelicals and McCain. The neocons HAVE ruined the economy to keep their persons in office. The sad thing is they will ruin this country and the economy with their out of control spend-and-spend policies. Plus they have ruined the US image in the rest of the world with their attitude that Americans don't have to abide by the rules they violently push on other countries. They don't care that the creation of a war under false pretenses for the benefit of their "base" is illegal, immoral, and makes them war criminals. They want to make the US a fascist country with civil liberties only for Neocon government officials. They are out to create the new American Civil War, because normal rational people are fed up with it, and demand a change. And by God, one way or another, they will get it.

Morgan Keegan is a bucket-shop. Google it if you don't know what that means. They are also a market maker in AAPL. I'm betting they are under quite a bit of water short AAPL April calls. Hope they get what's coming to them. Shame on you M-K....

.... is representing investors who lost money investing in two Regions Morgan Keegan open end bond mutual funds, the Morgan Keegan Select Intermediate Bond Fund (RIBCX) and the Morgan Keegan Select High Income Fund (MKHIX). Year to date, the Morgan Select Intermediate Bond Fund is down 50.5 percent and the Morgan Keegan Select High Income Fund is down 59.7 percent. Mark & Associates, P.C. is also representing investors in several Morgan Keegan closed end funds: RMK High Income Fund (RMH), RMK Strategic Income Fund (RSF), MK Multi Sector High Income Fund (RHY) and RMK Advantage Income Fund (RMA). These closed end funds have lost a tremendous amount of value, with some trading 75% below their 52 week highs.

The precipitous decline in these funds was the result of their large investments in illiquid securities known as: Collateralized Bond Obligations (CBOs), Collateralized Loan Obligations (CLOs), and Collateralized Mortgage Obligations (CMOs). These securities rarely trade and have no active quotations. However, the illiquidity of these securities did not stop the funds from continuing to purchase them. To make matters worse, the funds invested heavily in CMOs based on subprime mortgages. In the summer of 2007, the subprime mortgage crisis began as defaults and foreclosures began to reach record numbers. As as result, many of the securities that held these types of mortgages lost a tremendous amount of their value or became completely worthless

@username - according to Bloomberg radio last night, the reports that came in yesterday indicate consumer spending and outlook have not been negatively effected to date. Whether that will change or not, I don't know -- that's forecasting. But as of yesterday looking back to the last quarter, there hasn't been much slowdown in consumer activity.

I know lots of the rags around the country are forecasting gloom and doom, but it's not the case right now. Yes, we had three straight quarters of job losses, but they are marginal compared to past recessions.

I just spent 45 minutes troubleshooting a top of the range laptop running Vista.

First thing I did was buy another 500 APPL because I had all the evidence I needed in those 45 minutes to know for sure that Apple Macs are going to take over from that sows ear.

Good post Zeke, sounds like they're just incompetents.

Apr 08, 08 - 10:09 am Comment from: DogGone

The credit crunch as already affected the economy. No one can deny that.

It is realistic to conclude that sales of Apple products will be lower in this environment than a more optimistic one.

Despite this Apple will still be performing well. Hopefully over 2M macs will be sold this quarter. If the economy was booming that number could have been 2.5M.

The opportunity will be for Apple to gain market share without compromising their profitability and to demonstrate that innovation is the best way to combate a recession.

Apr 08, 08 - 10:37 am Comment from: derekcurrie

If this dolt is taken seriously then it is time to:
>>rubbing hands together in maniacal glee<<
Watch Apple stock plummet and BUY BUY BUY!

I fully expect Apple to once again become the stock market's refuge while all around them decline. I easily predict Apple stock to go over $200 again by the end of the year.

:-D

Apr 08, 08 - 10:43 am Comment from: dd

Don't listen to anyone who says to buy APPL. Not sure what stock that is. Instead, buy AAPL.

Good Lord! You'd think all these financial-know-nothings owned Apple stock and had been part of driving up the price far beyond the value...

Oh... yeah.

Apr 08, 08 - 12:02 pm Comment from: Macintosh

Has the guy been to an Apple store lately? I just went to one yesterday and bought an Apple TV, and in the 10 minutes I spent in the store, I saw an iMac, Macbook, iPhone, and my Apple TV get purchased. And that was only covering 20% of the store at 1:30 pm on a Monday, in Mannhattan Village, CA. It looked like the New York Stock Exchange in there. Crazy.

Apr 08, 08 - 12:10 pm Comment from: neomonkey

TowerTone, if your girlfriend comes home with a bottle of Viagra, she might be trying to tell you something.

Is Proud American actually ZuneTang® trying to be political? McCain is so old, when he first ran for the Senate he was called a liar by Mark Twain.

ZuneTang is retarded you are wasting your time reading his comments

Apr 08, 08 - 01:02 pm Comment from: Buster

@Proud American "....The sad thing is they will ruin this country and the economy with their out of control liberalism."

Take note:
1) American Military Casualties in Iraq since GWB declared "Mission Accomplished" (5/1/03) = 3884

2) Can you spell recession?

I knew you could!

Apr 08, 08 - 01:36 pm Comment from: Ampar

"I just spent 45 minutes troubleshooting a top of the range laptop running Vista."

Electric or natural gas?

Apr 08, 08 - 02:12 pm Comment from: Macromancer

Sounds like someone missed the boat on buying in at $120 and wants to try and manipulate the market to get a cheaper buy-in.

Apr 08, 08 - 02:15 pm Comment from: Macromancer

"yep, that's straight from the Democrats' playbook. "

Sorry Tom, but the Republicans VERY CLEARLY did the same thing in 2000. Go back and look at the tape. They ALL do it. Don't just pin it one one side.

Apr 08, 08 - 02:42 pm Comment from: Ampar

We're probably better off listening to Morgan Freeman's predictions.

< slow baritone voice >

"I . . .wish . . .that I could tell you that the Sisters left Tavis McCourt alone.
I . . . wish . . I could tell you that.
But there's . . .one . . .thing . . . I do know.
You either get busy selling or you get busy buying.
Shares of AAPL, that is."

Apr 08, 08 - 02:45 pm Comment from: Macromancer

@ Proud American.

Take your post and remove the word 'liberal' and replace with 'conservative' and it still makes just as much sense.

And if you think the media is liberal, why don't you ask yourself who actually OWNS the media and who those particular people are generally aligned with. Here's a phrase to help you on your search: giant media conglomerate

Buster,

1) Total U.S. casualties in Vietnam War, started by Democrat LBJ in 8/7/1964) = 58,151

2) Now you have some perspective, too.