It’s basically a toy company for grown-ups.
Revenue was light. In general, weaker than everyone expected on the top line and guidance was similarly weaker than what everyone was expecting on the top line.
Want to know how a stock like AAPL goes from $705 to $485 in three months for no real reason? Here’s the truth about how the market works.
Here’s a list of all the analysts that cover AAPL, and how close they were to getting their earnings numbers right. The ones in blue are amateurs. The ones in red are professionals. This is why I’m not in finance these days. But hey, props to Deutsche Bank for managing thirteenth.
This is how it feels to be an Apple shareholder this week.
If you haven’t heard, iPads are sold out nationwide and it’s not even out yet, and the Wall Street Journal just confirmed that iPhone 4.0 is coming in June. Just for kicks, they led everyone to believe there’ll be a Verizon and Sprint iPhone by Christmas, too. You’re welcome.
Jerry joined Apple’s Board in 1997 when most doubted the company’s future. He has been a pillar of financial and business expertise and insight on our Board for over a dozen years. It’s been a privilege to know and work with Jerry, and I’m going to miss him a lot.