“After falling 5% at the open, Apple (AAPL 342.63, -5.85, -1.68%) was last trading down about 1.5% to $343 by early afternoon, as several Wall Street brokers reiterated positive views on the company’s and its management team,” Gallagher and Kollmeyer report. “Apple is also expected to report strong earnings results after the closing bell.”
Gallagher and Kollmeyer reports, “Revenue and earnings are expected to see double-digit gains for the period, driven by strong sales of the iPhone and iPad, as well as the company’s Mac computer line. Wall Street expects the company to report earnings of $5.42 a share, up from $3.67 in the year-earlier period. Revenue is expected to soar 55% to $24.4 billion, according to the consensus of analysts surveyed by FactSet Research. The company’s outlook is also expected to be strong — especially with the launch of the iPhone 4 at Verizon early next month.”
Full article here.
MacDailyNews Take: Blip.
See? Told ya.
Hope you bought more.
People are finally coming to the realization that Jobs, however important and instrumental is not running the whole show by himself.
Darn, my wire transfer just cleared at 1pm, and now the shares have rebounded. I’ll just wait for a dip towards the end of the day, as some investors pull profits off the table before the earnings report.
What they are finally realizing is the the team implant shares the same vision and drive that Steve has for Apple. When Steve retires or leaves he will know that the culture and soul of Apple will continue on. The only mistake Apple will make is to hire a new leader who had not been groomed or have the same belief in Apple as the current team has.
My wife, broker, and I just conference-called, reaching this mutual agreement:
As long as Tim Cook and Jonathan Ive are large and in charge at Apple, Inc., we’re solid with this company. Yes, His Steveness is important and invaluable, but the company is on the right tracks, and the light at the end of the coming tunnel is America’s first trillion dollar (in market cap) company!
Long live Steve Jobs!
This just goes to show what a great company Jobs has helped create.
Get well, Steve, and best wishes to you and your family.
@ KenC
Here’s your chance.
Good point. Perhaps that is Steve’s real talent is to create a great corporate culture rather tan cool gizmos. The company will survive long after the current cool thing.
I guess the Street remembers that Cook did a pretty good job last time his was running the day-to-days at Apple.
And I agree that Cook and Ive embody the Apple culture. But I sure as hell hope Steve gets better!
How can these SOBs report that Jobs’ health “overshadows Apple’s earnings result” hours before the earnings are reported?
Read an article earlier today that quoted an IBM employee that said he called his broker and dumped his $1,500 worth of Apple (try not to laugh) like it was a BFD. They didn’t mention that it would amount to less than 5 shares…
Apple is a well run company and will continue to be with or without Steve Jobs. If he left today and never came back, it is still a profoundly different company from the company he stepped into as interim CEO- most of today’s Apple employees were not even working at Apple at that time.
He has recast the culture and they are on a trajectory built upon well over a decade of solid effort. Apple doubled down during the Tech Bubble recession and has continued to grow and hire through the current one- cherry picking top people from other firms and hiring among the best and brightest new grads.
I wish Steve Jobs all the best and hope he can return if he wants, but the company will be fine without him. That is his greatest managerial accomplishment.
Indeed, it is the vision and working
culture that permeates the company and staff that will overcome and hurdle any obstacle!!!
To the first “”TRILLION” company … Long Live Steve !!!!!
Your thoughts are comforting!!
Long live Steve Jobs and Apple
My wife, who already has a major stake in AAPL, finally decided to convert 100 shares of Adobe Systems stock into 10 shares of AAPL this morning at $334.
In ten years the Adobe stock has been flat. She’s already made more with Apple stock today than in the whole ten years with Adobe!
Yes, we believe (this is Apple’s decade).
Disney has seemed to do OK after Walt passed from the scene.
The headline in the UK Times today ran along the lines of “Chaos after Jobs sickness announcement”.
Just another irresponsible and inaccurate Apple story brought to you by a paper owned by, you guessed it, Steve’s new best buddy Rupert Murdoch.
I think about it all, and I just want to cry for this guy. NOT because he may or may not die- we all do that – but because in the face of people who said it couldn’t be done/ he was wasting his time/ laughing off Apple- look what Steve Jobs and Apple have accomplished. Really, kind of a fairytale story.
I was totally wrong, thought Wall Street would panic dump all Apple. So glad to be wrong and congratulations Apple on another unbelievable quarter.
If steve jobs dies the stock would drop 20% in one day
Like .
Have a nice life.