“There is a growing discord between Apple, the company that makes iPhones and Macs, and Apple, the stock,” David Goldman reports for CNNMoney. “Apple, the company, is doing great. Apple, the stock, is not.”
“When Apple provides its quarterly financial update on Tuesday, Wall Street analysts predict Tim Cook will say that his company sold a record 76 million iPhones and 6 million Macs during the last quarter of 2015,” Goldman reports. “That’s why Apple is expected to have earned an astounding $18.2 billion in profit in the past quarter. That would be a record, not just for Apple, but for any U.S. company — ever.”
“Yet the stock is down 29% from its peak, which Apple (AAPL, Tech30) reached 11 months ago. It’s down 9% this month alone. What gives?” Goldman reports. “Analysts’ median sales expectations have fallen this year by half a billion dollars and profit forecasts fell by $100 million. Apple’s stock has been downgraded 15 times by different analysts in 2016 alone. Yet investors’ iCrystal balls are notoriously foggy. Apple has a habit of surprising analysts: The company has beaten Wall Street’s profit expectations for 12 straight quarters.”
Read more in the full article here.
MacDailyNews Take: As some guy named Warren Buffett once said:
Be fearful when others are greedy and greedy when others are fearful.
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