“Back in March when Apple’s stock was heading for new all-time highs, I did write about a dangerous sign for the stock, namely a wave of robust forecasts that called for the stock to reach $800, $900, or even $1000—some of these calls were made here at Forbes.com,” Panos Mourdoukoutas writes for Forbes.
“In July, after Apple missed on earnings expectations, I did write about another dangerous sign: A wave of justifications of the miss that re-assured investors that Apple’s fundamentals are intact, and that the stock will head north soon–after the iPhone 5 release,” Mourdoukoutas writes. “Now, with the iPhone 5 release around the corner and the stock trading near all-time highs, the buzz is about Apples contribution to the US GDP. Such buzz isn’t healthy for the stock. It focuses on the noise, not the message.”
Read more in the full article here.
MacDailyNews Take: Mourdoukoutas is Greek for “ghoulishly misconstrue.”