After a strong quarterly report, Apple, Inc. (NASDAQ: AAPL) took a dive into the low $150s, much to the surprise of many. It was largely attributed to the worry investors paying close attention to the quarterly call had about the health of Apple's CEO Steve Jobs. Jobs had been treated for a form of cancer in 2004, which he only updated the world about after he'd been successfully treated. This secrecy forced many to wonder if his recent change in physical appearance was related to a recurrence of the cancer. With posts and news stories wondering the same thing out loud, the solid quarterly report played second fiddle to people's fears about an Apple without it's iconic leader.
Although the company and man are intertwined, if Steve is really telling the truth, then Apple has a lot of positive news on the books. One great fear about Apple's profits is that the iPhone would cannibalize iPod sales in a large manner. This quarterly report showed iPod sales were up 12%!
Another reason for the drop in the price is that Apple has announced it will be throwing lots of developmental money at a new project of some sort. While that may depress the price, it does hint that Apple might well have another edgy new product being developed. Between the investment in research and Steve's health scare depressing the price, Apple investors may have a solid entry point for a long term investment play in the stock, and it stands a good chance of beginning a recovery as business as usual continues on.
Last updated: February 09, 2012: 12:52 PM
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Reader Comments (Page 1 of 1)
7-31-2008 @ 7:39PM
Beltway Greg said...
No, I read the entire post. Damning by faint praise...perhaps a little push polling. I wasn't surprised by the drop into the $150s. I expected it. Despite pulling the kimono back on the IPhone last year the Apple dropped last year too. 75% of stocks track the market and individual trends in stocks are exacerbated by trends in the market. Growth stocks because they've grown so much get pounded when the market falls. Crappy stocks don't have much of a following and therefore are populated by true believers and those that have forgotten they own it to begin with. Think mining and gold stocks. Apple will explode when the market begins to make a true advance. Last year it went from approx. $115.00 in August to $203.00 in Jan. Don't censor post that aren't profane.
BG.
7-31-2008 @ 10:44PM
Beltway Greg said...
0 comments = O interest.
You do the math.
Beltway Greg
7-31-2008 @ 10:18PM
Constable Odo said...
You fail to understand that no matter what Steve Jobs says, it's up to investors to believe him. If they don't believe him, then Apple's stock will not move up. This is providing it's Steve Jobs health that is holding it down. I've heard so many reasons as to Apple's stock weakness, that it's hard to know the real reason.
Every little rumor can depress Apple's stock price. Apparently very few investors now have any faith at all in Apple even though it's handsomely rewarded investors over the past five years or so.