Your guestimate numbers from 2 days ago were surprisingly close to the mark but didn’t meet some analysts expectations and projections. So is this approximately 3.5% drop in Apple stock today after the announcement and now approximately 10% correction in the last two weeks a major buying opportunity? Just watching Cavuto on FOX Business. Apple is their topic of discussion at the moment. They said it is Apple’s lowered projected income that is tanking them this morning.
I’m looking at it that way. . . the MSM is bloviating about the overall drop in the market going down 666 points. Besides being the number of the beast, it’s a drop of only 2.4%! That’s not even a BLIP! AAPL is down a bit more.
The anal-cysts are doing simplistic comparisons of Apple’s last quarter to last year’s same quarter and saying the iPhone sales dropped. The only problem is they’re not comparing equal time period of sales. Last year’s quarter had 14 weeks, 98 days. This year had only 13 weeks, 91 days. The anal-cysts are claiming 900,000 fewer iPhones sold this year than last year with out telling anyone there was one more week of sales last year. Apple was selling almost 900,000 iPhones per DAY this quarter (5.95 million per week) so had there been an equal 14 weeks, this year’s quarterly iPhone sales would have easily beaten last year’s quarterly iPhone sales by a about six million!
But the anal-cysts couldn’t be bothered to make that adjustment and tell the facts. It doesn’t get as many clicks as "Apple misses on iPhone Sales!"
Then they are calling Apple’s BULLISH 19.6% YoY increase over 2nd quarter guidance of $60-$62 BILLION in revenue (compare $51 billion last year) as very weak in comparison to "consensus," because the anal-cysts wanted 30%!
That’s insanity!