“Is anyone really that surprised to see Apple’s (AAPL) stock rally the way it has after it announced its second quarter earnings and upcoming plans?” Matthew McMichen writes for The Motley Fool.
“It always amuses me when the market, driven in the short term by the whims and subjective feelings of its uninformed participants, overreacts to bad news and writes a largely successful company off as a dying species,” McMichen writes. “This is exactly what happened over the past 7 months as Apple’s stock plummeted nearly 77% [sic] (from September 2012 to April 2013, pre-release).”
MacDailyNews Note: Apple’s stock declined some 45%, not 77%, over the time period stated. (Thanks to Jersey Trader for the heads up).
McMichen writes, “A 77% drop for a company that has historically proven itself as a leading innovator and competition crusher? A decline that significant for a company such as Apple simply reeked of an undervaluing due to investor overreaction.”
Read more in the full article here.
MacDailyNews Take: The fleecing of the sheep looks to be done this time around. Time for the shearers to turn profits on the wool!
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