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This little gem was perpetuated by tech guru and investor Roger McNamee. Of course, he is a member of the Palm (PALM) board of directors, and his firm is an investor in the company.
Did I mention that PALM shot up after his comment, before the mediocre and overpriced Pre hit the market? The company then issued shares a few days later? You and I would go to jail for doing this.
Lesson for investors in 2010: If you can handle volatility, short PALM and anything else that tries to get in the way of the Apple (AAPL) iPhone.
See the complete list of 2009's Biggest Wall Street Lies.
And be sure to check out:
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
Reader Comments (Page 1 of 1)
12-26-2009 @ 4:48PM
setec5354 said...
Was told to dump each and every stock to buy apple years before the ipod and iphone and the stock was only in the high teens and before the 4x split.
would been a millionaire and financially fit!!!
too late and broke ,will never see another apple in the works!
12-28-2009 @ 3:49AM
ij70 said...
setec, don't worry about it. I have an ibook g3 that had a terrible failure rate. Apple did very well in the 80s, it is doing great now, but 90s was not so hot...