So the news around the watercooler at Apple and probably also at Fidelity (PDF) Investments (disclosure: my retirement pennies are in Fidelity – son.of.a..!) this week was Steve Jobs emailed Apple employees and investors about the recent drop in share price.
As Apple CEO and Board member, it is Steve’s job to tell everyone what they should already know – that the US market is in a downward spiral and the whole tech sector (US Market?) is in a freefall right now. It isn’t Apple, it is the economy. If you want someone to blame, hit up the US voters who elected this current administration. Yes, Democrats and Republicans both, we aren’t taking sides of course.
From the graphic above (provided from Appleinsider) you can see that overall, Apple is outperforming the tech sector – even with its massive 35% losses.
Of course, nothing is really going to help those who bought near 200 and lost 35% of their investment over the past week. Feel free to scream at us in the comments about revealing MacBook Air early details…or saying that Macworld was lackluster or f’ing up the 5 million iPhones call…Or saying that there will be new Macbook Pros within a month or so ;)
The truth is Apple is a solid stock and the numbers from iTunes Movie Rentals will again shoot Apple’s stock up where it belongs. Also, when people finally put MacBook Airs in their hands (this week they’ll be in stores), they’ll realize how amazing this device really is – and buy from their hearts – no matter what their heads say.
iPhone numbers also hurt Apple’s stock. We had heard 5 million. Apple said 4 million, The telecoms said 3 million. Trust the web metrics. iPhones are selling like crazy and more importantly, being used like crazy. Web sites are being developed just for iPhones. Seriously, what iPhone competitor can say that? Oh and the SDK is out soon. And so are all kinds of business applications including Exchange and Lotus support. Think that will help sales?
In short, buck up little camper. You are going to get your money back…eventually…and btw, if Apple’s stock gets anywhere near 100, we’re selling the 9to5HQ and putting it into Apple Stock!