"Only dull people are brilliant at breakfast"
-Oscar Wilde		 Brilliant at Breakfast title banner "The liberal soul shall be made fat, and he that watereth, shall be watered also himself."
-- Proverbs 11:25
"...you have a choice: be a fighting liberal or sit quietly. I know what I am, what are you?" -- Steve Gilliard, 1964 - 2007

"For straight up monster-stomping goodness, nothing makes smoke shoot out my ears like Brilliant@Breakfast" -- Tata

"...the best bleacher bum since Pete Axthelm" -- Randy K.

"I came here to chew bubblegum and kick ass. And I'm all out of bubblegum." -- "Rowdy" Roddy Piper (1954-2015), They Live
Thursday, April 14, 2005

Here's why I hate the so-called "public ownership" capitalism model
Posted by Jill | 3:21 PM

Case in point: Apple Computer:

Shares of Apple Computer Inc. tumbled nearly 6 percent a day after the maker of iPods and Macintosh computers reported better-than-expected quarterly earnings but a weak revenue forecast raised concerns among investors.

The Cupertino, Calif.-based company said on Wednesday that net income for its fiscal second quarter ended March 26 rose to $290 million, or 34 cents per share, from $46 million, or six cents per share, on a split-adjusted basis.

Analysts on average had expected a profit of 24 cents a share, within a range of 21 cents to 30 cents, on revenue of $3.19 billion, according to Reuters Estimates.

Revenue surged 70 percent to $3.24 billion from $1.91 billion.

But the company's revenue forecast for the current quarter was largely in line with Wall Street expectations rather than exceeding them, raising concerns about the company's outlook.


So now let me get this straight: earnings were a full 10 cents per share higher than analysts had predicted -- almost 50% higher, higher than even the top of their expected range. Revenue was up 70%. But because Wall Street was expecting more, the stock loses 6% of its value.

Good thing Apple Computer isn't a child. A parent behaving like that would fuck a kid up for life.

(FULL DISCLOSURE: I own 176 shares of Apple stock after its most recent split.)
0 comments
Bookmark and Share