“But it’s a disservice to constantly put things in this radical new light — that it’s going to change everything. Things don’t have to change the world to be important.” - Steve Jobs in an interview in 1996
But it seems like they do. At least for Apple. I have been trading Apple for the past few months now. Studying it for over a year however. There was a time when the markets traded this stock in a sane manner. Quarters would end, results would blow your mind off, the stock would jump. Revenues, Earnings, P/E ratios - they all made sense and analysts were over the moon when their bullish targets were further beaten. And then Steve Jobs died.
Since his death and after Tim Cook has taken over, it seems Apple had one good bullish run all the way upwards of the $700 mark and it has been pretty much a free fall since then. Analysing the stock price day on day doesn't really make much sense to me now. Because AAPL has been so heavily clobbered by the institutional players of late that a buy and hold strategy (which was once considered the best strategy) seems to give nothing but meagre or negative returns. One might argue that for long term investors, returns have still been solid as compared to competitors. But is that enough for a company like Apple which has practically spoilt its investors with almost double returns YoY. Are we now classifying Apple with the Microsofts and the IBMs of the world? I wonder what Mr. Jobs would say to that....