“Apple’s recent earnings announcements and product releases serves as a perfect example of how irrational investors have become,” Richard Saintvilus writes for Forbes. “I will concede that Apple’s Q4 was not on par with what I have come to expect – we can agree there. I think we can also agree that the macro climate has not exactly been favorable to even the best tech companies.”

“The take away from the report was that the company is being lead by humans, not magicians,” Saintvilus writes. “The question is, was the ‘disappointment’ (if you can call it that) a onetime blunder or is it a sign of something worse? … During the quarter, Apple generated revenues of $36 billion while earning $8.2 billion in profit. The math says that amounts to $8.67 per diluted share. However, on a year-over-year (side by side) comparison, Apple exceeded its 2011 results when revenues arrived at $28.3 billion with profits of (only) $6.6 billion. The math on that one equates to $7.05 per share.”

Saintvilus writes, “What’s more, Apple’s dominant iPhone line saw an impressive year-over-year unit growth of almost 60%. This is while the company sold 26% more iPads than it did last year. All in all, the company saw tremendous growth across all of its entire product lines. But still investors and those that don’t really understand the business scream ‘cannibalization’ at every turn. It doesn’t make sense.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]

Related articles:
Apple among Barron’s top 10 favorite stocks for 2013 – December 10, 2012
Why Apple investors are running from the U.S. tax man – December 9, 2012
Analyst: Apple’s stock price reflects ‘fantastically pessimistic assumptions’ – December 8, 2012