All Hail, Lord Steve! Thank God, I didn’t sell my Apple stock!
Like almost all (maybe just plain all) Apple stockholders (I own a few shares that, eat your heart out, I bought at 103), I was in a tizzy this weekend over whether to sell my stock on news that Steve Jobs, possibly the greatest business genius of the technological age and certainly the most entertaining one, was once again seriously ill. Naturally, my heart went out to Lord Steve and his family, but my wallet went out to… mine own self! What to do? What to do?
Well, finally I surmised that Apple had specifically chosen to announce Jobs’ illness just one day before its scheduled quarterly announcement of profits. And therefore that announcement would be big, exceeding Wall Street’s expectations. And for once… I was right. And then some. Apple Insider was in on the conf call with Apple COO Tom Cook: Apple on Tuesday reported its best quarter in the history of the company, reaching $26.74 billion in revenue with a net quarterly profit of $6 billion… Mac sales almost 8 times IDCs estimate for world average, fueled by strong sales of MacBook Air and MacBook Pro…. The iPhone grew in sales 86 percent in the December quarter, compared to IDC’s estimate of 70 percent…. .
Not exactly the time to sell, sez I. (The stock is currently trading at 344, down from 348 when Jobs fell ill.) As for Lord Steve, well, as you know, he maintains an interest in movies via Pixar and Disney. Guess what? He’s not retiring from that.