“You’re going to come across quite a bit of commentary today that will try and pin Apple’s earnings miss to some vague notion of the weakening global macroeconomic environment, to the death of Steve Jobs or to the beginning of a general slowdown at Apple,” Andy M. Zaky writes for Fortune.
“Those who know very little about the company will try to argue that Apple has finally succumbed to intensifying global growth concerns, and that without its master chief architect, Apple’s best days are now behind it,” Zaky writes. “They will point to Apple’s fiscal fourth quarter miss as a clear warning sign that the stock has peaked and that all investors have to look forward to is lower prices from here.”
Zaky writes, “First of all, these arguments are total nonsense. Anyone who says that Apple (AAPL) has topped or that it cannot go any higher has zero working knowledge about the company or its financials. The company is going to have more cash than its entire market cap in less than three years.”
Read more in the full article – highly recommended – here.
MacDailyNews Take: What we wrote yesterday when reporting Apple’s earnings: “Expect the bears to jump all over this ‘miss’ in Street expectations, while never mentioning the record revenue or that Apple did significantly better than Apple themselves guided. They will say ‘it’s all over because Steve is dead,’ that not enough iPhones were sold (while ignoring that most expected a new iPhone in the fall), and anything and everything else they can dream up to beat down the shares. In other words, expect an ‘AAPL sale.'”