Hi ratan - not sure I'd agree with you. AAPL is really a specialty market, even within the boxmaker segment. Seldom do you hear AAPL is eating the Wintel lunch. That said, this event will hurt the boxmakers, chip and other component makers.
Extreme punishment is unfortunately more the norm than an exception, and it misses expectation by 50% [45c ESP vs 33c Preannounced.] My guess is that Jobs could still charm the street if he was willing to hold a conference quickly. Unfortunately, the CFO is doing the dirty work right now, so no dice!
I guess time will tell how AAPL impact the tech market tomorrow. But my bet is that the damage is localized, because the street has determined to rally. With the Saudi signaling the oil intention, no sure $ will flow there. And seriously, does the street want to bid G, PG etc high? These guys are not out of the Euro wood yet. Biotechs and financials may soak up most of the liquidity, but I think selective tech will be unscathed, if I only what they are :)!
best, Bosco
best, Bosco |
