Apple investors are better off without Macworld Expo

“Apple (AAPL) may have dropped nearly 7% on the news that Steve Jobs is blowing off Macworld, but according to Bullish Cross‘ Andy Zaky, investors should be happy he did,” Philip Elmer-DeWitt reports for Fortune.

“In an unpublished analysis of the company’s last four major press events — starting with Macworld 2008 and ending with October’s Spotlight on Notebooks — Zaky documents a pattern that’s become increasingly self-destructive,” Elmer-DeWitt reports. “‘All of Apple’s media events,’ he writes, ‘are met with crazy rumor mongering, irrationally exuberant speculation and undue rants about Steve Jobs’ health.'”

Elmer-DeWitt reports, “The result is that almost every Apple extravaganza since Macworld 2007 — no matter what news comes out of it — has triggered a massive sell-off of Apple stock.”

Full article here.

19 Comments

  1. As a long time Mac user I can’t deny Zaky’s basic assertion, but the reality is… that just about any time Apple or Jobs gets PR of any sort (good or bad) it usually results in bad news for Apple stock. It’s not just a post-MacWorld situation. It happens all the time.

    So… why is MacWorld suddenly being made the scapegoat for this nonsense?

  2. The fact of the matter is: Jobs could walk out on that stage and demo the cure for cancer and the M$ bought wall street media will still poo poo Apple’s stock prices.

    Apple and Jobs are better off making all future announcements on their terms and their turf.

    Just my $0.02

  3. On the question of the uptick rule, its absence facilitates fraudulent market manipulation. It’s the equivalent of wash trading, which is illegal, Ponzi schemes, all of which meet the definition of criminal fraud.

    Investors in Apple should know that until the uptick rule comes back, it’s a special target for rumour mongering to enable stock manipulation for the benefit of the mongerers and their friends. The day that the rule comes back, one might well posit that the volatility will lessen.

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