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Reversal of Fortune (7/12/99)
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Now that Apple's stock has blasted past a six-year high following last week's upgrade by BancBoston, lots of us are wondering what'll happen next. AAPL lost a little ground on Monday; dollar signs appeared in shareholders' eyes with an audible cartoon "ding" as profits were collected, but the stock is still hovering well above $50. It's hard to believe it was bottomed out at $13 a share about a year and a half ago. What we're wondering is this: will we see the now-traditional stock deflation following Apple's announcement of its third-quarter financial results on Wednesday?
See, after the massive red ink spills of years past, once Apple started posting profits-- and consistently beating Wall Street estimates-- we figured that the stock would go up. Instead, every time Apple announces that they turned another profit (and a larger one than the analysts predicted), the stock seems to sustain a mild beating. Don't ask us why; we couldn't even hazard a guess. We're just waiting for the next quarterly results on Wednesday evening to see if Apple can continue its Street-beating streak. Then we'll await Thursday's stock activity to see what ensues. (By the way, don't forget to enter the Beat the Analysts contest if you haven't already-- you have until 2 PM EDT on Wednesday to enter your guess!)
Whatever happens to Apple's stock after the quarterly results, it'll just be a prelude to next week's Macworld Expo, which is when we expect the serious activity to kick in. In the meantime, though, you can bask in the irony of Apple being the darling of Wall Street while Compaq and Dell are slowly turning into whipping boys... MacCentral points out a CBS MarketWatch report from last week which describes the bizarre reversal of fortune: "Holding a stock 50 percent below its highs has Compaq shareholders ready to crash, Kamikaze-style, into company headquarters; and although their stock gained 7 percent Friday afternoon, the previously boisterous Dell faithful have needed an occasional slap on the forehead just to stay awake." It's a topsy-turvy world, yes it is...
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SceneLink (1656)
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And Now For A Word From Our Sponsors |
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 | | The above scene was taken from the 7/12/99 episode: July 12, 1999: Following two unsuccessful buyout attempts, Apple may be sending its own developers over to Palm in preparation for Apple-branded Palm devices. Meanwhile, another partnership is being forged, as Swatch prepares its Mac-friendly email-checking timepiece, and Apple's stock is roaring now, but what will happen after the quarterly results are announced?...
Other scenes from that episode: 1654: Waiting To Scribble (7/12/99) Macworld Expo keynotes are all about surprises, which is why it's no surprise that discriminating Apple watchers are getting burned out on the heavy volume of P1 rumors. After all, even with the rumored disinformation floating around, once the P1 is finally unveiled, what are the odds that any of its specifications are really going to shock anyone?... 1655: Now Pay Attention (7/12/99) If your attention span is somehow even shorter than ours, pat yourself on the back-- that's a pretty noteworthy accomplishment. Hey! You! Over here... Hello, remember us? Okay, now focus. We were saying that if your attention span is even shorter than ours, then you got bored with all the P1 rumors quite a while ago, moved on to the Apple-Palm thing, got tired of that, and are now ready for the next set of product rumors to entertain and amuse...
Or view the entire episode as originally broadcast... | |  |
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