I agree too! For a healthy company(let alone Apple)to survive and prosper in such a volatile and competitive industry, a strong and
united board is indispensable. Apple's board meetings will soon degenerate into an ego bout between Gates and Ellison, whose differences are wider than the Pacific Ocean! If Mcnealy comes on board to back Ellison up, then we've certainly reached the abyss, although it's hard to imagine that Apple can go any lower than where it already is. So why in the world did Salomon and Lehman Bros. reverse completely their opinion on the stock, going from sell to buy
without even bothering to pass by neutral?? I suspect third party interests involved. Just like Merril Lynch's embarrasing adventure with Boston Chicken 2 years ago; its restaurant analyst came out with a buy on the stock, and its TA expert came out simultaneously with a sell! Obviously someone at customer relations did not do his or her job, and forgot to contact the TA. Based on the sheer momentum of this
downdraft, I say Apple could be trading in single digits in a few weeks. Jobs obviously brought in Gates to revitalize the dormant board, but now it is going to overheat!! He's the only board member
with a cool head right now, and he doesn't want to be chairman!
If Sculley and Amelio can't turn this one around, then who can?
George Fisher?? Jack Welch?? Warren Buffett???? It looks like Apple
will turn into another Wang labs or AST research(still remember those two?)
Regards,
Ming |
