“With apologies to the many fans of the late, great Patrick Swayze … nobody puts Apple in a corner,” Paul R. La Monica reports for CNNMoney. “After a tough couple of months, Apple investors — like Baby and Johnny — are once again having the time of their life.”
“The stock hit its highest level since late July on Wednesday. It’s gone from Gala red to Granny Smith green in the process. Shares are now up 12% this year,” La Monica reports. “That’s a huge turnaround in a short period of time.”
“Apple is now only 8% below its all-time high from April,” La Monica reports. “If you were lucky/brave enough to buy Apple at the height of the market panic back on August 24 — when the Dow (which includes Apple) was in the midst of a 1,000 point sell-off — then you’re sitting on a nearly 35% gain.”
Read more in the full article here.
MacDailyNews Take: As we wrote back on August 5th:
We’ve seen all this before. Many times.
“At the most basic level, it’s extremely simple: Pump, then dump. Foment, then buy. Rinse, lather, repeat as the SEC sleeps.” — MacDailyNews Take, April 26, 2012
Let’s look at the actual facts: Apple sold 47.5 million iPhones in the third quarter, up 35 percent year-over-year. But analysts had expected around 49 million units. Analysts also expected growth of more than the mere 35% that Apple posted (in the June quarter, no less) and wanted guidance of more than $51.13 billion in the 90-some-odd-day quarter prior to holiday shopping season in which Apple’s all-time record for the September quarter, so far, stands at $42.1 billion, but Apple only gave guidance with a top end of $51 billion, not the $51.13 billion for which some analysts had hoped.
This is the basis for all of this so-called “worry” over Apple.