Don't know about Adam's Apple but he's got balls.
San Jose Mercury writer, Adam Lashinsky wrote a number of negative articles last week on AAPL. Here is his latest spew.
phillynews.com
mercurycenter.com
Judging from all the flaws in his article the guy has a lot to learn about investment. Just wrote this bonehead my second hate mail this week ...hehe.
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Apple's recent comparisons couldn't be easier. In its third fiscal
quarter ended June 26, it earned 65 cents per share, compared with a
loss of 44 cents in the same quarter last year. But a year from now, the comparison will be against the gain of 65 cents.
Obviously you don't take the time to read SEC filings. The 65 cent figure include one time gain/charge from ARM IPO and Finale Cut purchase. Actual earnings is 50 cents which is still 17 cents higher than analysts estimates. The 50 cent figure is what people go by for past and future comparison. Only clueless writers who don't know jack go by the 65 cent figure. Apple's Q3 99 earnings will be measured against the 50 cents figure.
So the share price is now about 20 times Wall Street's estimates for its next fiscal year.
Forward looking PE of 20 is very low in the high tech industry. You know that, I know that.... And this is based on 1999 consensus estimates. If you take a look at the estimates for each of those 4 quarters you'll see that they are rather conservative. Analysts simply can't do the proper estimate for AAPL....they have been waiting until the last minute to adjust the numbers higher. I can assure you that 1999 estimate in mid of 1999 will be very different from where it is today.
So if Wall Street analysts are sour on Apple's stock, how has it
continued rising in the last several weeks, while the rest of the market has been hammered?
You have no freaking idea my friend... The reason why AAPL has been rising steadily is because like you most Wall Street analysts are clueless when it comes to AAPL and the company has continue to beat analyst estimates by ridiculous high percentage. Take some time to think about AAPL's Q4 earnings and take a look at analyst estimates. Hmm.... I wonder if AAPL will move higher or lower when they beat the estimate again this time? In any case, after Q4 comes out I'll write an article to demonstrate what a fool you are.
The reason why many analysts are sour on AAPL is because they were paid big bucks to analyze how will perform and most of them were made to look like fools who can't do basic math. Some analysts are more clear headed and were able to see the light in Jan. I spoke with a couple of them and they really do follow what's going on in the industry. Others just sit on their ass and do what you do....
Despite the hoopla over the iMac introduction, investors can't be
thrilled by Apple's plans to spend $100 million to promote the new
machine. Slashing expenses amid modest revenue growth has been the key to Apple's return to profitability.
Can't be thrilled by $100 mil ad campaign? Do you even know how much Apple spends per year on ads? Do a little research before you make any assumptions. No one is going to do your homework for you. How does someone who can't do basic research and analysis write articles for major publications?
May I ask you again as to what investment/business background you have? Is there an archive of your articles somewhere?
Regards,
Eric |
