Apple gets crushed - down $12 at 127.83
Posted by Jeff Wed, 17 Sep 2008 21:19:00 GMT
But Why? I still use apple products and my roommates just upgraded to the 3G iPhone.
OK - google and HTC are going to come out with an iPhone compete. Fine. Do they have the Apple Store distribution? OSX core software? Apple branding? Just because the device is shiny doesn’t mean it is going to sell.
OK - MS just launched commercials with Seinfield. Have you seen them? They are not funny.
OK - steve lost some weight.
Apple is trading at 25x trailing earnings, where Wall Street usually gives 30-40X multiple. My guess is that Wall Street short sellers are riding the momentum so they can make a quick buck by continuous shorting during a time when apple doesn’t have much news. Where are the efficient market theory guys now?