The Street, which is about .01% correct in picking Apple information has a doozy today that is obviously inclined to drop the stock price. Today, they predict that Apple is planning a massive recall on batteries. They go on to say "Additionally, it is rumored that AT&T will be awarded another year to be the exclusive carrier of the iPhone in the U.S. and that Apple will be refreshing its notebook line in time for the back-to-school season."
Bullshit.
This sounds a bit like their 2007 prediction in which they announced that Steve Jobs is going to take a leave of absense from the company and Eric Schmidt would be taking over. Or this one where Steve Jobs is getting sent up the river on options charges. Stock drops temporarily... a lot of money changes hands.
Doug Kass is the face behind these predictions. Anyone think this will come true? Will the stock drop? Will Kass's constituants make a boatload of money?
How obvious does market manipulation have to get before someone calls them out?
SEC? Anyone home?
Oh, and the flip side is that Apple is selling iPhones like iPancakes. MacBooks will be released in late September (after school starts) and the AT&T rumor speculated by USA Today goes against their earlier statement that AT&T inked a 5 year deal with Apple. Likely, neither are true.
If you want advice on Apple stock, perhaps trying Cramerwatch.org's monkey (the primate has a better record than the Street's founder, Jim Cramer) would be a better choice.
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Monkeys are better at
Monkeys are better at predicting stock prices than these idiots.
CBS actually ran tests and reported this some years back.
Drop the K from Kass to get
Drop the K from Kass to get a personality description of him. He's been (incorrectly) calling for a huge drop in everything for years. He finally was right, but how many people lost money loading up with shorts on his advice in 2006 and 2007.
A huge recall would cause Apple some small financial harm, but in the end, just a drop in the iPhone money machine bucket. I don't advise others how to play stocks, but until someone comes out with an actual iPhone killer, pullbacks in the stock are buying opportunities in many advisors' minds.
Kass probably shorted AAPL last week and now needs to spook holders to make money off the short. Ought to be criminal...
disclaimer, long AAPL from the low 60's.
Doug Kass is a moron
Always has and always will. Nobody with a clue actually takes him seriously.
"Now, I don't want to get off on a rant here, but..." - Dennis Miller
Funny, I know a LOT of people
Funny, I know a LOT of people with iPhones. Perhaps upwards of 50. Both 1st Gen and 3G owners. Yet I have never heard of a person with a problem with the battery. NEVER. Not even once.
I have heard about people breaking it (dropping it one to many times), and some button troubles, but I have never heard of any class of battery failure.
Of course, there could be a problem with the manufacturer of the battery - but if so, I'd imagine that the battery manufacturer would have to pick up that tab.
Since the announcement of
Since the announcement of Foxconn running production lines beyond capacity to produce 800,000 iPhones a week, I predict that the stock price should drop to about $150 by the end of the week. This will be due to the fact that this iPhone production number is so insane that Apple has lost all credibility. No true handset company, let alone some upstart computer company could have that much demand for a smartphone. Besides, it's much more fun focusing on a small percentage of hairline cracks in the plastic case.
Where does it say it's an
Where does it say it's an iPhone battery recall? Could be another flammable battery in a laptop saga. Those are fairly frequent.
Monkeys?
Monkeys have always been smarter than people. They don't use money, and don't care about stock prices. Only a sucker invests. (The world is full of them.)
It shouldn't be bullshit, it's monkey-shit that the author doesn't understand.
:-)
Of course, he probably owns stocks. Suckershit isn't newsworthy.
If you can't Think Different, then try to think. It's a start.
Where does Google get their news too?
Where do many of these sites get their stories? Many seem silly. Meant to senselessly drive down the price of the stock.
Yahoo just today is running some story from Fox Business (fair and balanced I'm sure) with Walt Mossberg talking about MobileMe problems. Its a week old story and doesn't mention anything about Apple correcting the problems last week. Yet this is news today. Why can't they have news thats reasonably up to date and report on how Apple has worked to fix it.
And Google has been headlining a truly senseless story about "Apple: Out of Touch With Server Room Needs", saying that Apple just makes games?!? What a POS article. Yet its been headlined for a WEEK.
Apple stock is weird. Its a stock that people love to hate. I don't understand why.
I can't fathom why the stock price is as low as it is. Oh wait, something about the whole economy is in the toilet, but Apple is the only company selling like gangbusters, so we have to price it cheap like the rest of the market. Huh?
Only they haven't fixed the
Only they haven't fixed the problems last week. There are still countless users who can't access e-mail and quite a few high profile bloggers who are complaining about how MobileMe "lost" all their calendar entries.
MobileMe is far from being fixed.
Ever noticed how the volume
Ever noticed how the volume and price of stocks Cramer touts are already up, before you can get that info from TV, Radio or the website? I think they pre-announce to hedge funds or some such groups and place trades prior. In this case, probably buy puts or sell short.
Batteries
Not sure about a battery recall in particular, but I was at a Genius Bar yesterday and a guy was returning his 3G after two weeks because the email push was draining his battery unusually fast. The 'genius' said that they've been seeing a lot of that and they keep extra 3Gs on hand to swap out. He was given a new phone and was on his way.
The guy behind the bar seemed to say that it wasn't a battery issue per se, but something else.
Like the skinny guy on the beach
Apple gets kicked around.