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I----------------/ //__/ //___.--'--------------------------------------I
I Traded perception of net worth I
I I
I Company Feb 16 Feb 16 Sep 16 Feb 16 Feb 16 I
I 2011 2012 2012 2013 2014 I
I ======== ====== ====== ====== ====== ====== I
I I
I Apple Inc. = $335B $468B $648B $432B $485B I
I I
I Microsoft + Lenovo = $232B $318B $269B $245B $326B I
I I
I Walmart Stores = $194B $212B $250B $232B $237B I
I I
-------------------------------------------------------------------------
(US dollars at current prices)
Get the picture? Somethings not adding up. A new "mobile revolution?"
Perhaps, but it is still a bubble. I love bubbles. The only thing I like more than buying into them at the bottom, is shorting them at the top.
Apple's Lost Decade Begins
Once the market decides that your main product will remain slow for a long time, there does seem to be a visible pattern for multiples to sustain lower levels for a long time even if revenues grow –as was the case with Microsoft - blogs.wsj.com
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