Apple: Selling The News?
Update: Steve Jobs is not participating on the earnings call
While Apple's results were surely impressive, and we are waiting for the call Q&A for more details, we may have finally gotten to the proverbial sell the news event in the iconic company. After surging to a high of $357, the stock has since dropped almost back to the pre-halt levels, and at last check was trading at $344.66, granted to after hours volume. The action does beg the question, however: with 190 hedge funds in the name, who will be the marginal buyer especially since with Jobs now gone indefinitely the possibility of another beat's beat is seemingly getting increasingly problematic.
- advertisements -