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Bonds Are a 'Safe' Investment: A Big Lie Gets Even BiggerA couple days back I wrote a post about Steve Jobs' "lackluster" presentation at the annual World Wide Developers Conference, which resulted in a number of comments suggesting that my post urged investors to sell the stock. I am writing this post to reiterate my strong confidence in AAPL. If I led some to believe otherwise, I hope this clears that up.
In reality what I did try was to correlate the falling stock price (all the way down to 64) to Mr. Jobs' recent speech at the WWDC. Yes, my piece may have been a bit harsh given that the WWDC is intended for developers, not investors who have come to expect big things(Movie store, iPhone, new Nano) from Apple's CEO. Nonetheless, the fact remains that following the WWDC conference, the stock did fall. As someone commented to me, the stock generally falls after the WWDC because investors aren't impressed year in and year out.
In ending I would like to say that I do not believe I missed the mark in my last post, but I simply tried to correlate what was expected from the WWDC versus what was expected from AAPL investors. Apple is doing great things and as one of my reader's pointed out "the switch to Intel is producing an Apple that is leaner and meaner in the competitive space with beige box makers like Dell and HP." Look for Apple's stock to eventually respond to these hardware changes.
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