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All-Time Yawner (11/3/99)
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You know, we never thought we'd say this, but the phrase "all-time high" when applied to Apple's stock price has actually gotten kinda... well... boring. Okay, Apple's doing better than ever. Yes, the stock price reached $83 or thereabouts-- the highest it's ever been in the entire history of the company. But the thing is, for the last few months, "all-time high" has almost been the rule for AAPL, not the exception. After all, once you reach an all-time high, as long as you keep going up, you'll hit a new all-time high day after day after day.
It's not that we're not happy for Apple. We are. And it's not that we're bitter than we had a chance to buy AAPL at $16 and didn't. We're not. (Well, okay, maybe we're a little bitter.) It's really just that Apple's "all-time highs" keep making the headlines, and these days it's much more of a "Dog Bites Man" story than "Man Bites Dog" (or, if you're more into the Post than the Times, "Man Weds Dog In Vegas Ceremony, Blames Steve's Bad Acid"). The same thing goes for analyst upgrades. Take this Reuters article, for instance: a Bear Stearns analyst has upped its 12-month price target for AAPL from $75-$80 to $90-$95. Really, that's great and everything, but is it really news? Given that Apple's stock price is over $80, if this analyst hadn't raised his target, he'd soon be asking you whether you'd care to Super-Size your fries.
On the other hand, if these articles get the news about Apple's extraordinary performance out to more people who don't already know, well, then we suppose that's a good thing. More people will buy the stock, the price will keep going up, we'll keep getting more "all-time high" articles, and the cycle will continue ad infinitum until Apple does something like issue an earnings warning. So we suppose we'll deal with the continued ho-hum wonderfulness of Apple's stock, since it's for the good of the company. All we ask is for the occasional bonehead controversy to keep things interesting-- is it a deal, Steve?
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And Now For A Word From Our Sponsors |
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 | | The above scene was taken from the 11/3/99 episode: November 3, 1999: Imatec continues to campaign aggressively to lose as much public support as possible; this time they're offering bribes to ex-Apple employees willing to testify against their ex-bosses. Meanwhile, ExpoScam rages unabated-- what's really behind Apple's decision to avoid Apple Expo 2000 as if it were a communicable disease? And Apple's stock hits another all-time high, as if that's really news or something...
Other scenes from that episode: 1886: Stool Pigeon City (11/3/99) Just when you thought things couldn't get any sadder, Imatec continues to surprise and disgust. Dr. Hanoch Shalit, the man seeking $1.1 billion in damages from Apple Computer due to alleged patent infringement in ColorSync, may have reached a new low when it was confirmed that he had sent out letters threatening legal action to high-profile users of Apple's color-matching technology... 1887: Better Than Nothing? (11/3/99) ExpoScam continues to rage, as Apple keeps decidedly mum on the subject-- beyond apparently confirming that the company will not have even a "token presence" at Apple Expo 2000. Macworld UK has now started referring to the show as "beleaguered," a term once applied only to seriously distressed multi-billion-dollar computer companies like Compaq...
Or view the entire episode as originally broadcast... | |  |
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