“Here we go again. Another Apple quarter that demonstrates long term strength in its business, and another quarter where Wall Street is waving its hands in the air claiming that the business is broken,” Chris Umiastowski writes for iMore. “Apple shares are down over $50 (10%) as I write this.”
MacDailyNews Take: The business isn’t broken, the share price is broken.
“Always remember value investor Benjamin Graham’s famous expression: In the short term the market acts like a voting machine. In the long term it acts like a weighing machine,” Umiastowski writes. “Today, the voting machine dominates. But over the course of many product cycles, those daily votes amount to nothing. That’s why the market is volatile, and why I focus on long term investing.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dan. K.” for the heads up.]
