Apple’s Slump, Google’s Surge, and the Curse of ‘Forced Innovation’
March 10, 2013 by Leave a Comment
Cetin Hakimoglu writes: After a brief reprieve in late January, Apple is back to affirming Newton's observation that apples do indeed fall. I remember in December 2012 reading about how it was 'tax related' selling or funds booking profits after a large run. Or that Apple was cheap and undervalued. Apparently the tax selling went into overtime as Apple began 2013 with a rotten quarter and by the end of January became the worst performing stock on the S&P 500, having under-performed the index by a staggering 40% since peaking at $700. And a PE ratio of 10 apparently isn't 'cheap enough' to placate Wall St.