“Tell me if you’ve heard this one before. Apple releases a new product, gets rave reviews and has lines around the block at their stores, yet the press predicts doom and gloom for the company,” Bobby Owsinski writes for Forbes. “Well, we’ve seen this very scenario play out again with the latest introduction of the latest iPhone 5S and 5C.”
“Wall Street consistently shows that it has its head in the clouds and is about as far away from Main Street as could be,” Owsinski writes. “The example that I love the most is when a company issues an earnings report where things went well during the previous quarter and it actually turns a profit, yet their stock gets pounded because some analyst proclaims, ‘Yes, but it didn’t reached our estimates, so we should worried about the company’s health’ (this has happened to Apple many times)”
Owsinski writes, “Here’s the bottom line that doesn’t require a Wharton School MBA – you make money, you stay in business. You lose money, you go out of business. Apple has made a lot of money as it’s estimated $145 billion (yes, that’s with a ‘B’) cash on hand shows. I’d say that’s pretty healthy.”
Read more in the full article here.
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Apple proves critics wrong with blowout iPhone sales of the new iPhone 5S and 5C – September 23, 2013
Apple destroys smartphone sales record: First weekend iPhone sales top nine million units – September 23, 2013
Wow. Someone with common sense!!
It’s called “common” sense because it’s not.
common = “that which is ordinary”
Actually, Apple hasn’t lost [its/NOT it’s] mojo either!
Damn straight!
Are you seriously trying to imply that Wall Street doesn’t get Apple?
It must be their contempt for hippies and people who think different, and have high degrees of intelligence. They like stupid lemmings that mindlessly follow the biggest crowd right over the cliff. Tim Cook said it best in his recent interview. Basically, he stated he doesn’t worry about their stock price and doesn’t focus on share price. I love seeing Apple’s competition eating crow.
Lemme correct this:
“Wall Street consistently shows that it has its head in the clouds and is about as far away from Main Street as could be,”
The brown ring around their necks should indicate that it wasn’t “in the clouds” that their heads were parked!!
That is Googles cloud…
No way! That can’t be right.
How difficult would it be for Apple to get off the stock market?
I mean can they buy all their shares back and tell the market to stfu, I mean stuff it?
Short answer: No. Apple can’t own itself.
Apple can theoretically use their cash to buy every AAPL share but the last one. The person who owns that share owns all of Apple’s assets including any remaining cash the corporation has.
To take Apple private requires a party with external money (though they could borrow that money based on the value of Apple’s assets). That leases the buying party as the owner of Apple.
Anyone with a modicum of good sense knows and appreciates that Apple has never lost its ‘Mojo’. For those pundits and others lacking the necessary acumen to understand the fundamentals of any successful business .. Tough!
“…you make money, you stay in business. You lose money, you go out of business.”
Case in point…Blackberry just being sold.
Wall Street doesn’t believe Apple’s model of innovatingly disrupting poorly conceived products is sustainable. It’s great that Apple has “guessed” right numerous times over the past decade, but they just don’t believe that can go on.
They don’t understand that Apple is filled with real people using real products in the real world, with loads of user experience about what’s working for them and what’s not. And, that those failing products may be ripe for Apple’s engineers to come up with a better way to execute them that will work better and delight customers. That ordinary customer insight sees through crappy products they’ve been forced to use because ordinary companies don’t care about the customer experience, only about squeezing as many dollars out of the short term sale as they can.
In short, Apple can be thought of as an environment where making things better is a core belief, and taking risks to accomplish that leads to success. Wall Street only cares about churning quarterly sales for a quick profit.
As long as Apple’s culture continues to encourage its people to improve ordinary products into extraordinary products, and avoids bean counters out for a quarterly profit improvement or stock share objective, they’ll be fine.
Just ignore the Wall Street fools. I just buy Apple products and that all that matters. Not some jerk in a high priced Italian suits who tries to manipulate stocks to their advantage.
How about we all get to crucify Peter Misek of Jefferies who took one look at the iPhone 5c, said it was too expensive and issued a downgrade for Apple before even one iPhone 5c was ever sold. That damn prick cost Apple shareholders about $25 a share right off the top because of his stupid knee–jerk conclusions.
Yes, let’s name names! Who else? Let’s make a list…
Two weeks from now, the same cockroaches and jackass bloggers will crawl out of the woodwork running their same BS line of how the iPhone no longer has any appeal to anyone because Apple doesn’t innovate and the iPhone has a tiny display. It’s just so damn pathetic why they need to keep targeting Apple who only wants to sell decent smartphones to consumers. What is so wrong about that? Why are so-called Americans so down on an American company. Why should Americans happily keep buying South Korean products? Our trade deficit is already as bad as it is, so why make it worse.
I wonder the same thing.
Although it wasn’t in relation to Apple, a quote by British actor Dennis Quilley seems to fit the bill rather well:
“We know what a few ignorant journalists don’t know.”
=:~)
MDN: its.
Fixed! Thanks
Your headline is WRONG. “it’s” means “it is”
This article is rife with typos. Forbes really needs to spell/grammar check their work before allowing stuff like this to be published.
That’s all fine, Bob, but the fact of the matter is that you’re contributing to a site that has *consistently* been one of the worst ones re. Apple bashing.
Check the archives: its been Forbes beating Apple like a pinata nonstop for the past year:closely followed by Fortune, WSJ, and that ultimate hit-whore New York Times (which started in practically to the day Steve was declared dead).
So, “pundits”, how’s that crow tastin’ today? You’d think you’d really love the taste by now, as many years as you’ve been chowing down on it!
Wall Street has its head up its ASS!
But this is normal for them.
“Wall Street consistently shows that it has its head in the clouds…”
This guy was really generous. Wall Street’s head is far up its own smug ass.