“Apple shareholders have to be made of tough stuff. We’ve endured 4 discouraging months– Apple’s share price is right back to where it was on January 5. To add to the frustration, Apple delivered 2 strong quarters, soundly beating estimates and showing investors considerable growth in earnings and revenues,” Stephen Rosenman writes for SeekingAlpha. “Q2 revenue and EPS were up 83% and 91% respectively. Q1 revenue and EPS were up 71% and 75% respectively. The share price didn’t even beat money markets. Shareholders, I feel your pain. After all, I’m another suffering Appleholic.”
Rosenman writes, “There have been 3 miserable periods to own the stock in the last 3 years, and each lasted 4 to 5 months.”
“To me, this year’s weakness is reminiscent of these morose periods,” Rosenman writes. “Apple has been trading in the doldrums for a little over 4 months, shy of the 5 month sleep walk seen in the last two cycles. If history is any guide, Apple should start to reward long suffering shareholders. Apple’s agony has been experienced preceding shareholder ecstasy, and this time should be no different. Apple’s remarkable earnings should win investors over again.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]