{+++} So Apple Computer is basically finished. The action in the stock has been telling a story for months now. Growth is dying, and you can only penetrate so much of a market before you get your market cap marked to market. Samsung is eating their lunch on so many levels and kids are going away from Apple and over to Samsung for the cool factor. Jobs is dead and Apple ain’t cool anymore. Turn the page.
On the other side of the equation, the biggest piece of junk of them all, NFLX ran 40 points in the after market. How could this happen to AAPL and how could this great reward be bestowed upon NFLX? I don’t know who posted this on Stocktwits tonight, but this tweet basically says it all.
“Welcome to the market – $NFLX makes $8M and its market cap rises $2bn. $AAPL makes $13Bn and its mkt cap drops $52bn. Expectations matter”
Steve Jobs could always get by on a wink and a nod, Cook is deadpan and incredibly average. Apple was never about a “smart” retail guy like Cook, it was about changing the world. Apple will never change the world again. But enough of this now average stock. The value guys will love it at 425. Let it go. See Intel, Microsoft, Motorola, 3Com, Dell and dozens of others for validation. All hardware stocks eventually become commodities. Apple has a great ecosystem and probably always will, but that won’t give it a growth multiple to earnings anymore. Bodies were carried out today in this name.
Tomorrow will be interesting. The market is a little tired, and if not for IBM, the market would have been red today. GOOG lifted the Nasdaq by itself, but tomorrow, Apple will tear it down. The beat goes on
Sorry for the long rant on Apple.
See you tomorrow.