Rush Limbaugh: Don’t worry about Apple’s results, just wait

Mac, iPhone, and iPad user Rush Limbaugh today discussed Apple Inc.’s fiscal Q312 earnings results and the company’s prospects for the holiday quarter on his radio program that, since its inception on August 1, 1988, is the highest-rated talk radio show in the United States. The 3-hour Rush Limbaugh Show airs daily on a network of approximately 590 AM and FM affiliate stations. The program is also broadcast worldwide on the U.S. Armed Forces Radio Network. A November 2008 poll by Zogby International found that Rush Limbaugh was the most trusted news personality in the nation.

From the live transcript, Limbaugh said in part:

Now, this was really kind of… I don’t know, it’s funny, and it was a little cute, a little heartwarming at the same time. I’m in here busily prepping today’s excursion into broadcast excellence and Snerdley walks in with a pot of coffee. He walks in with a pot of coffee, and he says, “Boy, I bet you’re not feeling too good today.”

Rush Limbaugh with Apple Inc. logoI said, “Why?”

“The Apple news. I know you love Apple. We all love Apple, but, boy, financial report really, really, really bad quarter. I mean, are they in trouble? Gee, what happens if they stop making iPhones?”

I said, “What in the world are you talking about?”

“Well,” he said, “The quarterly earnings report.”

I said, “What do you mean, quarterly earnings? They had an up quarter year over year. They were up.”

He said, “Well, the media…”

I said, “Ahhh, I know what you’re talking about.”

What happened was Apple announced their quarterly earnings yesterday in a conference call to journalists and so forth, which ought to tell you something. And what happened was, they didn’t meet Wall Street expectations of their performance. Apple’s like every other company, they issue guidance for investors, what they think their next quarter is going to be, and they always undershoot it. They always have low expectations so they can show blowouts. And Wall Street, like every other company, has their own ideas of what a company is gonna do, based on what their experts think, and they had these expectations for Apple of $10 a share and $40 billion of profit.

Rush Limbaugh on AAPL Q312 earnings, Q412 outlook

So Apple comes in with $35 billion of profit and $9 a share. They were up year over year. They had a record number of iPads sold, 17 million. They sold, what was it, 26 million iPhones, and there’s gonna be a new one in two months. And everybody knows there’s gonna be a new one in two months. Well, let’s see. Yeah, they’re gonna announce it in September. And so rumors are holding down sales. I think the problem with Apple is they’ve blown the doors out for so long that everybody’s expectations are way up. When they have a blowout, but not up to their standards, people start getting concerned. But that’s the problem…

It’s okay. So they drop 30 bucks a share in after-hours trading. Wait ’til you see their [calendar] fourth quarter. They’re gonna have stuff, new mini-iPad, new phone, new computer, they’re gonna blow it out in the fourth quarter and all this is gonna be a memory. This isn’t bad anyway. I just wanted to share with you Snerdley’s concern for me ’cause he knows how much I love Apple and rely on their stuff. Rely, like, love, all the same.

Full transcript here.

[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]

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87 Comments

      1. Liberals appear to be trained by the media to resist critical thinking and lampoon anyone they hate with puerile BS like this.
        Now we know you’re one, I’ll make a point of not taking anything you say here seriously.

        1. Your statement is completely unfair and erroneous, Nigel. It shows extreme bias and a lack of critical thinking on your part. Do not underestimate your “opposition” – there are many intelligent people who hold liberal/progressive viewpoints. I believe that most people tend towards a moderate mix of conservative and progressive viewpoints. I count myself among that group. It remains to be seen if I or anyone else should take *your* statements seriously.

          Rush is correct in this case. He does make a mistake when he talks about $35B or $40B in profits – he clearly meant revenue. But he covered the topic well and he helped to correct the media misinformation and misinterpretation by the public. It is amazing how Apple’s third best financial quarter in history can be skewed into a “miss.”

          That does not mean that Rush is right in all things. I have heard him spout plenty of BS, so I hope that you do not blindly believe everything that Rush says simply because he consistently and repeatedly strokes your conservative partisan ego. He is, after all, making a ton of money from his show, and it is intended to be entertainment as much as news.

          I believe in listening to a broad variety of people and subjecting that input to careful consideration and comparison with other sources of data. I draw my own conclusions, and I do not need to be spoon fed, force fed, or convinced through repetition of easily digestible sound bites.

          1. Rush says something about Apple, MDN reports it, the response from liberals: Rush is a Nazi. How cerebral.
            My response can hardly be described as “unfair and erroneous” at all. Who made the video, well balanced intellectuals or leftist hate mongers? You tell me.
            You may like to think of yourself as a free thinker, and perhaps you are, but it doesn’t extend to decrying this kind of mindlessly hateful garbage does it? As a ‘moderate’ you should be appalled but you’re not. I wonder why.
            So no, I do not accept your specious assessment of my post. You vainly assume that I have a ‘binary perception’ and a ‘conservative partisan ego’ but you’re absolutely wrong on both counts. Neither am I “intellectual weak” thank you very much. My political views hold true *despite* the overwhelming media consensus but I do not “blindly” agree with everything Rush says either.

            1. I have consistently decried this kind of name-calling partisan crap from both extremes. You just happened to be the first one in this particular thread who kicked it off. And then you took such offense at my “specious” post.

              I merely said that simplistic labeling was a sign of a weak intellect. I did not call you intellectually weak. It was more of a warning. In addition, your defensive argument on this topic was not particularly strong or relevant. Intellectual weakness is not determined by how strongly you cling to a belief system. Intellectual strength has much more to do with how willing you are to challenge and evolve that belief system and to seek new understandings.

              I am not “appalled” by either side of the name calling. It takes a lot to appall me. I am just tired of it, as well as discouraged by the negative impact that it has in this forum and in the larger sense. You happened to start it this time, and I made you aware of my displeasure. I don’t care if you are Republican, Democrat, Libertarian, Independent, or whatever. Try taking the high road for a while regardless of the provocation that you may encounter. If enough people do that, the pointless bluster will subside.

              As long as you are under the impression that I and others have to conform to your conception of reality in order to be valid and relevant, I don’t expect to find much common ground with you.

            2. And I do not follow YouTube links on this forum or any others. As a result, I did not see or respond to the content of that video. Yours was the first written comment of this type, and the written word is what speaks to me.

            3. So you are admitting you were making accusations of Nigel without the full story nor knowing what you were responding to? …Poor show King, moves like that and you’ll be demoted to Prince.

        2. In addition, I consider your need to broadly label people to be a sign of intellectual weakness. Your binary perception of “conservatives” and “liberals” is overly simplified. The world is much more complex than that, and demands a far less superficial treatment.

            1. Come on, Nigel. castelbuono has a point, even if it is poorly stated. The conservative platform has a weakness in that it decries “Big Government” and big deficits at the same time that it advocates massive defense spending which employs an army of people who are government employees. And the refusal of the modern Republican party to pay any heed to valid science, even to undermine it if it conflicts with the GOP platform, is nothing short of ridiculous.

              On the other hand, citizens of all parties are manipulated by the media. You can come up with better examples. The Democratic platform has plenty of holes in it. Try harder.

            2. READ the constitution…. the military IS part of what the Government is required to supply for the people. the rest of the “big government” is NOT set out in the constitution.

              what Conservatives get ticked off about is the needless spending by the left to implement social programs that ARE NOT part of the constitution.
              defense spending is 5% of GDP, yet we are in debt… explain that one.

            3. You mean like Medicare Plan D ? How many Republicans voted for that? And by the way we spend 20% of our budget oes to defense and security.

            4. @fscuttle
              Medicare was created under social security in 1965, social security was NEVER meant to be your retirement.
              remember, when FDR knew he’d lose the parts of the new deal in court (SS act, etc.) he then found a loophole to ADD justices to the court… so it could pass.
              once a welfare/social program is in place, it’s a bitch to remove. Thus all the bashing on the senate/house floor about republicans would rather feed cat food to the elderly instead of actual food… no politician can take much of that crap when the media twists the facts.

              yeah the 5% was the increase in spending, someone else the other day was going nuts over the huge increase in spending on defense… I remembered the wrong number. it’s like 18-19% total.
              SS/Social programs take up a hell of a lot more of the budget than Defense ever has. and Defense IS constitutional.. the rest, not so much.

            5. Medicare plan D was a huge new entitlement program passed by the Republicans in 2003. 207 Republicans voted for it and 19 against it. Only 9 Democrats voted for it. Defense spending is 20% of the budget. Medicare part A+B are funded through payroll taxes and so is SS.

  1. F Rush Limbaugh and everyone ignorant enough to listen to him and his lies and nonsense.
    I don’t care if he likes Apple he doesn’t need to be on this site.

    1. For someone with the name “Darwin”, you sure don’t seem “evolved”!

      So according to you, if one listens to Rush, they’re ignorant. But I imagine Darwin, you haven’t listened to him yourself to have first hand knowledge, but yet espouse a point of view probably ginned up by your cronies, does that not also make you ignorant at the most or stupid to say the least?

    1. Im surprised that there are only a few anti-rush comments so far…

      Liberals must still be asleep, or are still in shock over a rush comment being on MDN again to comment 😉

      1. 99% of the time it’s the Liberals firing the first shot with ANY non Liberal article (and sometimes it doesn’t even need any political leaning story at all)
        Sometimes we do like to preemptively address the BS that will be spewed.

        And at 4:38 PM was the first shot… by Darwin above. (Liberal attack on Rush)
        if by whatever reason you think Full quoter at 4:23 was the first “rant”… you have issues. (But we already knew that..)

        I love how you and others attack Rush, but can’t back anything up with truth.. it’s always BS crap spewed from BS sites like Media matters or some liberal “fact” group that can’t get report anything correctly.

        I’m Conservative, and I don’t agree with Rush 100% myself. Granted i’d say it’s a fairly high %, but not 100%.

        if jon liebowitz came out and praised Apple, i’d second his praise, not bring up my thoughts on him. (that would be Jon Stewart for those that have no clue..)

        1. Bull. I have participated in this forum for years and that is absolutely untrue. 99% of the time…you lost it right there. It is probably pretty even over the years, and there is a tight knit group of conservatives who never fail to post the 3…2…1 thing every freakin’ time.

          Now, I have to admit that I erred on the “first” thing. Nigel has a post up near the top that slams “liberals” and I read from the top down. But is is time-tagged at 5:51pm, so it was not first chronologically. Darwin does appear to have kicked off this partisan storm.

          I actually didn’t attack Rush (much) if you read my post above. I could and I have, but I did not this time. There has been plenty of truth put forward to counter some Rush statements. If you chose to label it liberal because you don’t believe it, then what is the point. I am not on this forum to debate the validity of Rush’s statements, or the lack thereof. If you are an avid Rush watcher, then you are likely just reinforcing your belief system. I am not here to change it. I would rather not hear about it. Unfortunately, MDN has other ideas.

          Liberal is not a dirty word, no matter how you attempt to twist it into a pejorative label. The world is not that simple and people seldom conform to such narrow categorization.

          I believe that Stewart is pretty funny sometimes. So is Colbert.

          1. the 3…2…1… part is just true.
            we know it will start, it’s just a matter of time. The leftists just can’t stop themselves, they must Bash Rush at all times. It’s inevitable, so why not have a little fun and get in before the fireworks?

            You have to view the posts by the time to see my point that it IS 99% of the time started by the liberals.. If you click all the related links at the top you will also see, the VAST majority of the time it’s a liberal attacking Rush etc. (IF you look at time… not as you did the posts closer to the top)

            I just randomly clicked on 3 related stories above… yep, ALL 3 had liberal attacks on Rush starting off the fireworks. Randomly click them, look at the post times…
            Once you see the times, it might open your eyes a bit more to who is the ones starting the attacks.

            I’ll agree there are some “conservatives” here that DO try and start the name calling, but it’s a few of them and it’s mostly counter attacks to the leftist attacks.

        2. Jon Stewart would mop the floor with the bafoon that is Limbaugh in any kind of rational debate. Maybe if you cons would actually watch it for a week, you would realize that while yes he does have a liberal viewpoint, he doesn’t hold back on Dems. He will pounce on them just the same.

          He is at least entertaining, I’ve listen to Rush extensively and he is a bloating, self aggrandizing, idiot. He is reckless, hateful and just plain ignorant.

          Granted, I also believe his positions are shrewd, calculated, and disingenuous, I don’t think he really believes it, he is just laughing all the way to the bank.

          How do you explain his wedding? Elton John, gay right activist is the entertainment? James Carville is invited? Really after the way he railed on the Clinton administration, he is friends with James Carville? http://www.people.com/people/article/0,,20391620,00.html

          1. you do know who Carville’s married to right?
            you do know Carville, while a leftist, is friends with Hannity and Rush?.. and does regularly come onto their shows?..

            http://en.wikipedia.org/wiki/Mary_Matalin

            he paid lots of money for Elton john to come there. Rush’s wife is a big fan, and so is Rush. you know what…. sometimes politics gets set aside… nah the left can’t think that way.

            Gay rights activist?
            http://theweek.com/article/index/203770/why-did-elton-john-play-rush-limbaughs-wedding
            maybe you should READ Elton john’s own words….

            “Actually, neither man is a proponent of gay marriage: Their social views aren’t all that different, says conservative blogger Cubachi. Far from being a homophobe, Rush “believes homosexuality to be biological, and is supportive of civil unions.” Elton John, on the other hand, has said he’s content with a civil partnership and that gay activists have “put people off” by using the word “marriage.” ”

            Maybe you should do a little research before you go on the offensive. wait… you are a liberal.

            Liebowitz Vs Rush in a debate. LMAO. Liebowitz has a team of WRITERS for his show and speeches, Rush does not…
            Rush would easily wipe the floor with Liebowitz.

  2. You can tell this is just the market using any excuse to bring down Apple so they can buy it cheap because it’s only down 4%. If there was any cause of real concern, it’d be down 10-20%, the way we see Nokia and RIM do when they announce bad news.

  3. Boy that Rush guy is one hell of a racist, and I have always disagreed with him. But with logic like this make me wonder if I have been wrong all those years. …….Nah! But I like his take on Apple! Spot on.

      1. Milly,
        That was such a great post. Really.

        I now know that according to you, black is white, up is down, good is bad, and like Romney, what ever you are saying now is totally correct. Even if it totally is the opposite of what you just said. Which was totally correct.

        Such lovely logic.

        1. Milly is actually correct. Leftists love to bring out the race card when they are bereft of any other argument. Stop doing crap like that and come to the party with intelligent arguments instead of character assassination tactics and maybe you’ll earn some respect. You try to obfuscate that which you are guilty of and try to make others who disagree with you look like mental Lilliputians when it’s you who are personal friends with Gulliver, or more likely Gilligan on that other isle.

  4. What are we in, Myxylpyk land? Rush Limbaugh is right? (Except for the predictions, of course, which nobody knows.)

    BTW, I am more *right* wing than him on many areas, and think he’s an idiot.

      1. Man why don’t they put that Superman “villain” in one of the Superman movies! I am so sick of Lex Luthor hogging the villain limelight. Enough Luthor already!! Or Brainiac, Bizarro, Parasite, etc. & how about using the effects of Red Kryptonite in a script – a fantastic writers plot tool. The entire Superman mythos is vastly underutilized by a clueless and myopic movie studio. This new Zack Snyder Superman probably won’t be much different. Rant over.

  5. Here in Florida the State Govt. bends over backward for him and his palm beach crowd so their taxes are as small as possible…that involved closing a T.B. Hospital to save money despite warning by C D C about how it spreads fast…TEA Bagger Scott has a 27% approval rating…Former Businessman, war on the poor and the unemployed…state is being evacuated ..homes as low as $22,000 in Hernando County. This is what his idiology brings!!!!

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