Apple’s Upcoming Earnings Report is More Crucial Than Ever
The Wall Street Journal has a very interesting and informative article today that looks at how investors are feeling about Apple right now, focusing particularly on LA firm RNC Genter Capital Management, who have been mulling over whether or not to sell their Apple stock, which they bought back in mid-December in the low $500s, when it was considered cheap enough for them to buy. RNC Genter’s Daniel Genter told the WSJ that the drop in Apple’s shares this week had led to the firm thinking about cutting its losses and selling its shares in Apple. After an analysts meeting, the company decided to hold tight for now and keep the shares, although Genter told the WSJ that they are still “assessing the situation.” As the WSJ article notes, Genter’s wavering will be duplicated by many other investors around the country, as they wait to find out whether Apple has in fact made the transition from a growth stock to a “more plodding” value stock. Genter says that the company is waiting for Apple’s earnings report next week before it makes another move, and doubtless so are many, many other companies and individuals with the same dilemma, making next week’s call a particularly crucial one for Apple.
Thanks to Super Moderator AdmiralAdama for the heads-up on this story.
Source: Investors Grapple With Core Reality of Apple - WSJ.com