“If you’re an Apple investor, you ought to be thanking TheStreet and CNBC’s Jim Cramer as well as Apple CEO Tim Cook,” Chris Ciaccia reports for TheStreet.
“Wells Fargo analyst Maynard Um upgraded Apple on Tuesday to ‘outperform,’ due in large part to an email Cook sent Cramer on Monday seeking to reassure investors that Apple’s position in China was not getting worse, but actually getting much better,” Ciaccia reports. “Shares of Cupertino, Calif-based Apple were rising 4.7% in pre-market trading on Tuesday after closing on Monday at $103.12.”
Ciaccia reports, “Um found the commentary reassuring, with Cook providing comfort, something that gives Um ‘better visibility to the Sept quarter (September is typically an iPhone transition month making Jul/Aug important, in our opinion). Given broader macro concerns, this is a visibility others in our group do not have, which we think will be important heading into earnings.'”
Read more in the full article here.
MacDailyNews Take: It’s amazing, but not surprising, that the world’s strongest company can outperform quarter after quarter, posting record results upon record results, yet “concerns” can be ginned up (and doused) at any given moment. On Wall Street, the bunkum parade rolls ever onward.
SEE ALSO:
Apple shares surge on Wells Fargo upgrade – August 25, 2015
U.S. stock futures rise sharply as China cuts interest rates – August 25, 2015
SEC to sanction Apple CEO Cook for his $63 billion email? – August 24, 2015
Apple shares recover from white-knuckle plunge after CEO Cook emails Jim Cramer – August 24, 2015
Apple stages historic rally off $92 – August 24, 2015
Apple CEO Cook may have violated U.S. SEC rules with email to Jim Cramer – August 24, 2015
Apple, after big drop, leads recovery of Dow Jones Industrial Average – August 24, 2015
CEO Tim Cook to Jim Cramer: Apple is seeing strong growth in China through July, August – August 24, 2015
Apple crashes under $100 in pre-market trading as tech stocks set up for dismal day – August 24, 2015
So hard and fast data and results outperforming pretty much everything you want to compare it to are a sign of doom, but an email saying things are looking good is enough to change their opinion of a company completely?
Yep it’s all shenanigans to get people to do transactions…not investing. Read an interesting article from Marketwatch (ironically). Salient points.
http://www.marketwatch.com/story/10-things-wall-street-wont-tell-you-about-the-stock-market-2015-08-24?siteid=yhoof2
Wow – actually a good article from an unexpected source.
Love that article. It reminds me of a woman I met who was distraught over some broker that frittered away most of her mother’s life savings. I made a couple points very close to the article (#5, repeat repeat repeat) and told her that if she really wanted to take advantage of the stock market she should learn how to do it herself.
I met her a couple of years later, she was ready to retire in a few years, she was making that much money.
It ain’t rocket science, it’s shill. The problem many of us have is that we have been trained not to take candy or money from a baby, but realizing that wall street is a herd of cry babies takes you one step closer to a different approach.
Someone made a shit load of money in the last 48 hrs
If Wall Street was a person, he would be diagnosed Bi-Polar and likely institutionalized under heavy medication.
Which fools sold out at $92?
Well said, MDN…. There is now a whole strain of humanity the “never-Apple-for-any-reason” gash that’s been cut thru massive markets by Burp-Up’s and Magic App Creators out to make us obsolete….. tee…hee… How’s that Winders X going down…. lookie—watchie—spyie—
As an “Apple investor” I don’t care if the market is reassured or not. If people want to be fools and not buy Apple or sell what they have, fine. It’s like sports talk–you can talk all you want ahead of the game, but the score will be what the teams put on the board. The rest is hot air.
he sure is loud.
So what is the difference between yesterday and today in the market?
Comfort and reassurance based on calmly presented information. As opposed to panic induced by cynical rumours and imagined monsters under the bed.