“Apple closed Tuesday under $570. A little earlier in the day, it touched below $550. In the days prior to its last earnings call in April, Apple shares hit a low of $555,” Eric Jackson reports for TheStreet.
“This recent swoon, after moving from $360 in November to an all-time high of $644, has brought out a chorus of Apple-worrywarts,” Jackson reports. “They are saying this is just the start of a broader pullback. They’re saying this is due to investors who are worried about carriers pulling their subsidies on future iPhones. Any pullback in Apple shares also seems to bring out the concerns about whether the largest company by market capitalization can still keep growing. The other day, I spoke with a good friend of mine who worried about Apple’s stock that: ‘Steve’s no longer there and their markets are brutally competitive.'”
Jackson reports, “Apple could have the most amazing management team in the world, but none of us would talk about it, because Steve Jobs was that good a CEO… Five stars stood in the shadow of Jobs: Tim Cook, Eddy Cue, Phil Schiller, Scott Forstall and Jony Ive. (I should also include a sixth, CFO Peter Oppenheimer, who does a great job in his role.) Despite worries by some after Jobs’ death, they’re all still at Apple… I’ve said before that I believe Steve Jobs’ final act of brilliance — his gift to all the great people who built Apple into what it is today — is going to be his succession plan. And not just at the upper levels of management, but throughout.”
Read more in the full article – recommended – here.
MacDailyNews Take: Congrats, Oppy, for the parenthetical mention!
Jackson is right, of course. By all accounts, Jobs was focused on making sure Apple was set up to be a lasting endeavor.
Some people see (or claim) doom. Some people see buying opportunities. What do you see?
[Thanks to MacDailyNews Reader “Ellis D.” for the heads up.]
The previous time Steve was gone from Apple, the people left behind to run it DIDN’T agree with his plans for the future. This time around those left to run Apple certainly do believe in Steve’s plans and hope to keep the company moving forward in that direction. He stocked Apple as well as he could with people who could carry his visions forward.
Definitely a buying opportunity. There is along way to go in the innovation from where we are today to where we are communicating through thought waves rather than touch or sound. Apple will get us there.
“Buy on Strength”
No weakness seen to date…
Improvements come all the time along with updates.
The market reacts on FUD and hype. Brokers play the game very well with aapl and cause the stock to move up and down in between the big gains.
One thing is clear from history. Aapl has periods of large increases followed by a quiet phase where it is manipulated.
There is no real evidence that apple have any issues with any of their product lines and are posting huge back to back gains. How long this will last I don’t know but I would rather have apple stock than anything else (and I have for 6 years).
20 years from now after AppleTv’s and may other devices have been reused, cracked, hacked and modified to get away from the one world, one way, communidata ( communist + itunes + icloud) system we in the IT industry will still hail all the changes heralded in by one man and his church as being god like !!! And then what of the prophecies that Jobs will return…lol
Amen.
http://www.imyourgenius.com/thechurchofmac.html
Not surprising given the current prevailing mentality:
http://content.usatoday.com/communities/theoval/post/2012/05/prisoner-gets-41-against-obama-in-west-virginia/1?csp=34news&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+usatoday-NewsTopStories+%28News+-+Top+Stories%29&utm_content=My+Yahoo#.T6pf7Wt5mSM
West Virginia, home of Robert Bird and the KKK. Everybody has a crazy uncle Louie, with the lazy eye. America has WV (and NC).
Tell me republiKKKans aren’t rabid…
There’s not a sugar-water salesman among the bunch.
Here
Here’s the loopy logic that the Street is using re AAPL:
AAPL is too good to be true.
Therefore it is not true.
Therefore it is not good.
Therefore it is bad.
Sell it.
… Sheer genius!
Buy, buy, buy. It’s free money…
A good read.
One more thing…
what the hell is anyone even talking about? The AAPL volume has been extremely low and the whole downward dollar move means nothing. Inst. ownership went down by a percentage point and that’s a big deal in day to day liquid AAPL. This is the flat season is natural at this time of year because there is no ramp up to the iPhone release… One more thing… Apple’s going to crush it in computers… remember those?
If you pit management from the competition (that has not been able to succeed against Apple with SJ) against a quintet of people who were good enough for SJ to keep them around and that have had years to lear from him, who would you favor most to suceed ?
Apple’s top guys can still make mistakes, but I’d take those along with the rest of their decisions anytime over the best that other CEOs/management teams in the competition have mustered in the past decade.
Scott Forstall’s influence and software design aesthetic is vastly underrated and under appreciated.