“Is Apple’s growth slowing? That’s investors’ biggest concern,” Robert Holmes reports for TheStreet.
MacDailyNews Take: Any investor whose biggest concern is if Apple’s growth is slowing hasn’t been paying a bit of attention.
“Channing Smith, who manages the Capital Advisors Growth Fund (CIAOX), says he sees quite the opposite. He recently traveled to New York from his home base in Tulsa, Okla., and visited Apple’s retail store on Fifth Avenue. He was overwhelmed by the size of the crowds — even in the middle of the week,” Holmes reports. “‘You look around and you can see the insatiable demand for a product like the iPad 2,’ Smith says of the company’s most recent update of its hot-selling tablet. ‘It was almost too much. You couldn’t see anything. It was like a snake pit in there.'”
Holmes reports, “Smith says that although supply chain concerns could dog Apple, he believes analysts continue to underestimate Apple’s earnings power as well as the influence the company has on consumers. Even if a supply-chain disruption impacts the company in the next quarter or two, Smith isn’t concerned about Apple as an investment. ‘Apple products are meeting what consumers want, and consumers are willing to pay up for it,’ he says. ‘To me, it’s a setback but you’re shifting demand around that will be made up in a later quarter. We would stress to investors to stay focused on what they’re doing from a sales perspective and focus on the competition.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Brawndo Drinker” for the heads up.]