“Apple stock has been hammered today, dropping almost 6 percent or $25/share as investors are taking cues from an important Apple component supplier, Cirrus Logic, which forecast lower-than-expected sales of its chips for iPhone and iPad in the coming quarter,” John Koetsier reports for VentureBeat.
“The new drop means that Apple is now more than $300/share down from its high point in September 2012, when the company was worth over $650 billion,” Koetsier reports. “And that it has now dropped an absolutely massive $250 billion in value since then — the equivalent of an entire Google or a Microsoft.”
Koetsier reports, “Apple’s quarterly results are coming next week Tuesday, and company better hope Tim Cook has a rabbit to pull out of his hat in order to impress investors.”
Read more in the full article here.
MacDailyNews Take: All Apple did last quarter was to post the most profitable quarter for a tech company in history.
Cook did pull a rabbit out of his hat and look what that got him.
By now, Cook has to be seeing that The iMac Launch That Wasn’t, the epic-yet-rarely-mentioned screwup that actually started AAPL on its plunge into the abyss, just might end up doing him in. That would be a most ironic nail in the coffin of Tim Cook, Operations Genius.
Apple is too big and too rich to screw up things like iMac availability for Christmas shopping season. This isn’t 1996. Steve Jobs would have gone on a spree with an axe. Tim Cook, operations genius, is ultimately responsible for Apple blowing some 800,000 iMac sales in fiscal Q113 (holiday quarter). (Hopefully, he blew them into this quarter.) If Apple had those iMacs ready like they should have, not two months late, then they would have handily beaten the street in all respects and we wouldn’t be having this conversation today. — MacDailyNews Take, March 5, 2013
Again, hopefully those Christmas iMac sales were pushed into this quarter and the “surprise” will be a boon for Apple, Cook, and AAPL shareholders.
Related articles:
Obviously, Apple’s autumn iMac launch was badly botched – March 19, 2013
The curious case of Tim Cook, operations genius, and the missing iMacs – February 4, 2013
