“Apple (AAPL) surprised investors last night by missing earnings for the quarter just past and providing guidance for the current quarter that is well below analyst estimates. Apple blamed the global economy for some of the miss but also said expectations for a new iPhone5 were hindering sales of the current model,” Jeff Macke reports for Yahoo Finance.
“‘This is a company that likes to create a buzz,’ says Todd Schoenberger, managing principal of The BlackBay Group. ‘Unfortunately that probably backfired on them right now because every is waiting for these sensational products but they don’t have a delivery date,'” Macke reports. “Schoenberger ticks through his other concerns. Domestic sales have been soft for two straight quarters, emerging markets are soft, and Apple’s (alleged) move into smaller iPads is an atypical effort to follow competitors into a market. No doubt these headwinds have him cautious about the stock, right?”
Macke reports, “No way! ‘I would go long now and I’d put leverage on it,’ he all but shouts in the attached video. ‘Buy it now, $800 in one year. Hold me to it!'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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