Roger’s Rules

Why I am not an economist

There seems to be near universal agreement among the economic  cognoscenti that Apple’s glory days are over. After all, its last quarter profit was “only” $13.1 billion, or $13.81 a share. Wailing and gnashing of teeth time, what? Nor is that all. Sales rose–rose!–only–only!–18% to $54.5 billion while “analysts” had projected sales of $54.9 billion. Gosh.

To my uninformed eye these earnings seem like a tremendous success story. but the savants disagree. Result? Apple shares plunge about 10% in after-hours trading. That strikes me as insane, but, hey, what do I know?

Well, there is this one thing: that if Apple shares plunge now (as they have periodically in the past), they’ll be a lot more attractive to investors willing to looking beyond this faddish panic.