Apple's Biggest Problem: Mr. Market
It should come as no surprise that Apple (AAPL) dropped nearly 10% after it reported its quarterly results yesterday. Over the past couple of weeks, the market all but ensured that Apple's shares would drop significantly once the earnings were released. By that I mean that Apple's biggest problem today is Mr. Market and not its financial performance.
In the current economy, Apple's quarterly results were nothing short of spectacular. For the fiscal fourth quarter, Apple again posted record quarterly revenue of $54.5 billion and record quarterly net income of $13.1 billion, or $13.81 per diluted share. But Mr. Market had made up his mind weeks before Apple's earnings release. Unless Apple again blew past estimates, the stock was going down no matter what....469 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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