Thursday, January 03, 2019
Fickle Love
Apple cut its earnings guidance for the first time in 15 years and Wall Street is reacting harshly, dumping its stock and driving down its price. As of last night, Apple has lost more than $300 billion in market value. There is little love in financial markets. It is all in how one performs quarter to quarter, year after year. Investor relations cannot soften the blow of a bad financial report. The company has to take its medicine and hope some will not abandon it. Apple had been riding high for a long time. It was a can't-miss tech stock. Now it has joined the ranks of mature companies that struggle each quarter to make their numbers and have less upside potential. It is possible Tim Cook can turn the ship around but high growth might be out of his hands. Wall Street isn't hanging in and waiting.
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