“It’s truly amazing to see the market react to a fantastic quarter from Apple with such indifference,” Bob Ciura writes for The Motley Fool.
MacDailyNews Note: “Indifference?” Make that “outright hostility.”
“Shares of the technology giant fell 4% on the day the report was released, and the stock has continued to gradually dip lower — even though Apple’s putting up quarterly numbers that any other company would kill for,” Ciura writes. “Apple grew revenue, the iPhone average selling price, gross margin, and earnings, all by significant percentages year over year. Yet the market seemed disappointed. For investors wondering how this could be possible, the answer may simply be that Apple once again fell victim to Wall Street’s short-term thinking.”
Ciura writes, “While Wall Street analysts obsess over whether Apple beat expectations by a wide enough margin, long-term investors shouldn’t be discouraged. Apple stock shouldn’t be viewed as a trading vehicle, but instead as a long-term investment in one of the world’s strongest businesses.”
Read more in the full article here.
MacDailyNews Take: Ah, it’s always comforting to hear a voice of reason, as rare as it may be of late.
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