“Ironic, isn’t that, that in this decade of CEO scandals and corporate duplicity, shareholders are punishing Apple (AAPL) — which in its last quarterly statement, reported earnings of $1.14 billion on sales of $7.9 billion, with nearly $25 billion in cash — for allowing CEO Steve Jobs a medical leave of absence?” John Paczkowski asks for AllThingsD.
“A timid group, Apple investors — risk averse and apparently too easily frightened actually own the stock. Faithless. Because to sell on this news, or any of the Jobs-related health rumors or reports the company has suffered this past year is silly,” Paczkowski writes.
“Because if Jobs were to leave Apple – willingly or otherwise – people won’t suddenly stop buying Macs. The iPod won’t suddenly go the way of the Walkman and early adopters won’t suddenly lose interest in the next gen iPhone. Yes, Jobs’s sensibility pervades Apple’s culture and its products, but that culture and those products are in not tethered to his health or day-to-day presence at the company. And Apple’s deep executive bench is more than capable of running it — and running it well — in his absence,” Paczkowski writes. “Apple will endure — with or without Steve Jobs.”
Full article here.
Robert Scoble got right to the point last evening: You are an idiot if you sell your Apple stock tomorrow