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Technology Stocks : Apple Inc.
AAPL 259.35+0.1%Jan 9 9:30 AM EST
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To: slacker711 who wrote (143534)10/25/2012 6:41:56 PM
From: Cogito5 Recommendations  Read Replies (4) of 213182
 
Margin guidance sucks, but other than that, the commentary in the call seems pretty good (though I am just following a liveblog).
My guess would be that the margin guidance is the only place where they're sandbagging now.

I think it's time to consider that the law of large numbers is finally catching up to Apple right now. We knew it had to happen at some point. Growth rates are softening.

At a minimum, in my opinion we can expect revs and earnings to be very spiky going forward, as Apple has loaded this fourth quarter for bear, but won't have much new going on for quite a while after this.

Unless, of course, they have some kind of major surprise waiting in the wings for spring.

Does this mean I think the stock will stop appreciating? No. It does not, because the company will continue to generate cash, and even this "lousy" quarter represents year over year growth that a lot of companies would kill for. But neither do I expect P/E decompression to occur, except for short periods of time.
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