“Much of the Wall Street is like a herd of sheep; once something catches on everyone jumps on the band wagon,” Arora writes. “Much of the Wall Street is like a herd of sheep; once something catches on everyone jumps on the band wagon.”
Arora writes, “Barron’s did find out that there was limited evidence to support the tax selling theory. If the tax selling theory was correct, Apple stock should now be trading over $600.”
Read more in the full article here.
MacDailyNews Take: By their own rules, mutual funds had to divest themselves of AAPL shares after the stock’s big run up over $700 in mid-late September. Naturally, the mutual fund managers began to sell in order to rebalance their portfolios and, then, as Arora writes, “Much of the Wall Street is like a herd of sheep; once something catches on everyone jumps on the band wagon.” The “fiscal cliff,” fears of tax hikes, and the usual assorted anti-Apple FUD and SEC-ignored fomenting created the perfect storm for those looking to pick up AAPL at a discount as well as for the AAPL shorts.
One thing’s certain: All eyes will be on Apple as they report earnings for the holiday 2012 quarter (Apple’s fiscal Q113) on January 23rd after market close. As always, we’ll bring you the results the moment they are released, right around 4:30pm ET on January 23rd.
Note: On October 25, 2012, Apple CFO Peter Oppenheimer gave Q113 revenue guidance of “about $52 billion and diluted earnings per share of about $11.75.” Currently the analysts’ consensus is calling for revenue of $54.54 billion and EPS of $13.33. The later numbers are the ones Apple must beat.
Apple to webcast Q113 earnings release conference call on January 23rd – January 2, 2013