Comment by Ken

Ken — Wed, 23 Jan 2008 17:11:06 +0000

Some folks are apparently seeing the light.

From Charles Wolf, an analyst at Needham & Co., quoted in a BusinessWeek article: "I think this is an outrageous buying opportunity. It's not a cheap stock, but you're getting a company that can grow at 25% a year for who knows how many years, at 25 times earnings. To me, that's a steal -- recession or no recession."

Apple Posts Record Profit, Stock Plunges

Ken — Wed, 23 Jan 2008 11:46:29 +0000

Sometimes I think Wall Street investors are a bunch of idiots.

Yesterday Apple announced its fiscal 2008 first quarter results: $9.61 billion in revenue, resulting in $1.58 billion profit ($1.76 per share). Compared to the same period a year ago, that represents a 54.4% increase in earnings and a 35.4% increase in revenue.

Overnight, the stock lost about 13% of its value. Why? Because Apple's conservative second quarter forecast came in below expectations, and is seen as a further sign of a weakening economy.