What would Steve do? For the first time in six years, Apple has missed its own voraciously high sales expectations. Believe you me, your correspondent worked for Apple for a while earlier this century (pre-iPhone, if you can even remember such a time, what an age we live in, etc) and Apple always set aggressively ambitious sales targets for every month of the year. Even in February, the retail graveyard month!
Of course, in the crazy world of stockholders, announcing that you’re not going to achieve your own self-set high standards is a cue for capricious market lenders to decide that your company is a bit rubbish now and promptly downgrade your stock value, wiping a tidy $27 billion off your market value.
Apple shocked investors with fourth quarter results that missed expectations for the first time in six years, saying consumers were waiting for the new iPhone 4S. Shares of Apple fell seven percent in extended trading on Tuesday, wiping some $27 billion off the value of the world’s largest technology company.
However, looking beyond the shock-value headline and the truth is that the only Apple product line on a downturn is the iPod. Mac, iPhone and iPad sales are all significantly on the up, the latter skyrocketing – yes, actually skyrocketing! – a mighty 166 per cent.
So market lender valuations aside, I don’t think Apple will be crying too disconsolately in to its iPillow tonight.
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