“If it wasn’t such a game of expectations, Wall Street would be honoring Apple (AAPL) today and its stock would be soaring in the wake of another quarter of record sales and earnings,” Matt Nesto reports for Yahoo Finance. “However, falling short of expectations in the investment world is like stepping out of bounds by only an inch, nullifying an incredible catch in football.”
“While CEO Tim Cook described Apple’s results as “extraordinary” on the company’s conference call late yesterday, the simple fact remains that by several key measures the company grew less than analysts expected,” Nesto reports. “The disappointment is tangible, triggering a sell-off that’s taken the stock to levels not seen in a year.”
Nesto reports, “But it is also tempting, given that shares are now down 35% from their all-time high of $705 hit just four months ago. ‘I think you got to hold your nose and buy here,’ says Eric Jackson, founder of Ironfire Capital. ‘In the past, when Apple has gone on runs, it usually comes when there’s this mass negativity in the air like there is now.'”
Read more and see the video in the full article here.
[Thanks to MacDailyNews Reader “Rainy Day” for the heads up.]
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