Well reports, “Apple’s net income rose less than 1 percent in the quarter ended Dec. 29 from a year earlier. And while its sales climbed 18 percent, that was the weakest increase in 3 ½ years.”
MacDailyNews Take: Ever notice how these type of articles compare Q113’s 13-week quarter with Q112’s 14-week quarter without noting the discrepancy? Omission of pertinent facts is a very convenient, and unfortunately, common, method of lying.
Well reports, “The company is losing its first-mover advantage in products like smart phones and tablets, thanks to its heft, Kass says. Apple is going the way of Microsoft — a ‘large cash flow generator with limited secular earnings growth,’ he maintains… Kass thinks [AAPL] will trade between $425 and $500 for ‘as long as the eye can see.'”
Read more in the full article here.
MacDailyNews Take: Dougie must be quite nearsighted. iCal’ed.
[Thanks to MacDailyNews Reader “Elder Norm” for the heads up.]
Doug Kass: Buy Apple – November 13, 2012