“In the wake of Standard & Poors’ downgrade of U.S. government securities — from AAA to AA+ — Apple’s (AAPL) shares are getting pummeled along with the rest of the market,” Philip Elmer-DeWitt reports for Fortune.
“But after the subprime mortgage debacle and the debt ceiling circus, it’s worth remembering that this is a company whose profits last quarter grew 125% year over year and now has more money in the bank than the Federal government,” P.E.D. writes.
Read more in the full article here.
[Thanks to MacDailyNews Reader “David E.” for the heads up.]