Apple: When 32% income growth is an ‘earnings flop’

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.

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

4 Comments

  1. David Emery said:

    Journalism is all about selling clicks these days, and saying bad things about Apple brings the eyeballs to the website.

    3
    November 7, 2018
  2. Fred Stein said:

    Encore (repeating myself) slice of data:

    2nd 1/2 CY 2018 (mid-point of guidance) is 9% above 2nd 1/2 CY2017. 9% is real growth. For a company approach 40 years old, that’s great growth. Factoring in buybacks, the per share growth is double digits. That’s just elementary school arithmetic.

    Last year the big numbers came in later because the most desirable product, the X, arrived late. This year the hot ones arrived early.

    0
    November 7, 2018
    • S Lawton said:

      For goodness sake, Wall Street has been punishing those companies that did not meet expectations in guidance. You all predicted this before earnings. Amazon had a very good quarter but WS didn’t like guidance and it got hammered. As stated, this was a good buying opportunity and both have performed very well today.

      0
      November 7, 2018

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