Technology
Apple: When 32% income growth is an 'earnings flop'
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From Mark Hibben’s Apple: A New Growth Era, posted Wednesday on Seeking Alpha:
Despite these strong results, market reaction was negative the day after the earnings report, due in part to the lack of iPhone unit sales growth, as well as the decision, announced during the conference call, to cease reporting hardware unit sales.
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Bloomberg couldn’t help but gloat in an article released on the day Apple reported, titled, “Apple Market Cap Falls Below $1 Trillion After Earnings Flop.”
The article never bothered to clarify why Apple’s results constituted a flop, and it was a little premature in its market cap prediction. Apple’s market cap closed above $1 trillion the following day on Friday November 2.
I’m starting to notice a pattern with Bloomberg…
My take: Join the club.
See also: Bloomberg finally pushed Tim Cook too far
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