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They LOST Money?! January 22, 2007

Posted by gregquill in Uncategorized.


Apple just announced great Ipod and MAC sales, huge profits and robust forecasts – and their stock went down.


– MAC shipments increased 28 percent to 1.61 million machines last quarter. That was fewer than the 1.75 million computers Wall Street analysts had anticipated. Not what Apple said they’d sell; what guys like Gene Munster, an analyst at Piper Jaffray & Co. in Minneapolis, THOUGHT they should make. Strike One.

– Apple said iPod music player shipments will jump 50 percent jump to a record 22.1 million units. Sales for the current second quarter ending in March will be as much as $4.9 billion, Apple said in a statement, shy of the $5.23 billion average analyst estimate compiled by Bloomberg. Strike Two.

– Apple forecast profit of as much as 56 cents a share, compared with estimates for 60 cents. Strike Three.

Apple stock shot up 11% last week after the iPhone was announced. Now, it’s dropped 4.5% because of the three strikes.

Note: Apple did great, but sorry; the actual performance did not match overinflated Wall Street estimates. Let’s say, COULD not match.

So that guy Munster raised his price target to $124 from $99 today, saying the stock’s decline is a “great buying opportunity.”

It sure is: for him and for his buddies, who made the stock lose value by overinflating expectations so that they could get rich. Maybe we can call that iFraud.

It’s so obvious.

I thought we had the SEC and laws about that…



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