DISQUS

Your comparison is interesting because they are both large, world class, market leading <insert superlatives here> organizations. With evolutionary paths that lead them with very different DNA.

And I read this on a weekend when I've just finally taken the plunge and bought an iPhone. And honestly, there is some emotional appeal in it beyond its capabilities that I can't explain... I am surprised by how wonderful it "feels"... and this after having used an iPod touch for some time.

I think I disagree with your premise because the idea that SJ is soooo important as the public persona is inside baseball. Many if not most of the kids with ipods don't even know who Steve Jobs is. They know what an iPhone is (and they've been rediscovering the mac). The products and the marketing are the image. Not SJ.

It is hard to imagine who could have had the vision, and decisiveness to turn the company around. But SJ has been there a long time, the values are ingrained, and they'll continue. Moreover SJ's uncompromising attitude is a mixed blessing--he's not always right you know.

On net, there will be pluses and minuses. On balance I think losing SJ will be a negative for Apple, but not a huge one. The company he rebuilt remains.

Mainly, I just want the guy to be well because he's a human being and the planet is a more interesting place with him around.

So no significance that Apple did NOT set a new low (during regular hours when there's liquidity) on the SJ news?

Just thought I'd note that it is 2009 now.

Good news Dan.

SJ survived longer as CEO at Apple than you did as... whatever.

Consider the possibility that just maybe Apple was telling the truth.

You really should go back to satire.

Apple's entire business--its enterprise value--is now $63/share. This in the wake of what looks like the most significant successful product launch in its history. And the beauty of this new product? Carriers pay most of the cost.

Whatever the short term hiccups, it is the most obvious fundamental opportunity I've seen in my lifetime.

It's not just the companies ridiculously stellar balance sheet. It is also the state of its franchises.

It's the oppposite of the dotcom era--the downware momentum is that intense. And just like the dotcom era, we know how this story will end, we just don't know how far the stock price can go in the meantime.

There is just an amazing lack of long term business risk here. In a growth story? Cheap! I guess this is what a REAL Bear is like.

Naked shorting IS wrong (far too dilutive), but certainly not short selling per se.
The problem last week was a financial panic. Closest culprit on your list is The Banks. Bad Lending + Leverage == current situation.
For a company like AAPL, with circa $25/share in the bank and no debt... a market panic is an opportunity to go long. I did so at $128. A nice little addition to my retirement account.
You make a profit by selling higher than you bought at. Unless you're margined, it matters a whit what the price does in between. If you care what a stock does next month or next quarter, you are not an investor.
If short sellers were driving down AAPL last week (panicked sellers and a buyers' strike is more likely), they did a service--shorting a stock of a company printing money with around 20% of its value in cash. And someday they have to cover.

Companies with the cash and productivity and flexibility of Apple can survive depressions.

I disagree with the link to the "Let's Rock" event. Apples businesses have been firing on all cylinders and they did just what they should with the ipod line.

The problem is that the current business fundamentals don't matter.

The macro technical environment dwarfs all.

If Apple continues to outperform the overall economy (likely as its market share trends are pretty solid), then we'll all be presented with a fantasic buying opportunity.

Meanwhile this is just a dramatic reminder that you are trading with other investors... not with the company's customers. A market trend in the exact opposite direction as a company trend can produce a tremendous buying opportunity. Hopefully you'll be able to tell us when we're there.

Just realized I could be misinterpreted.. that wasn't a slight on SJ. I will be quite sad and a little concern when RSJ leaves--but he doesn't bring the daily joy and laughter and occasional gut splitting that this blog did. It's been the funniest (in a geekily satisfying way) thing I've ever read in my life.

Not replaceable. Thus I can only mourn.

Just realized I could be misinterpreted.. that wasn't a slight on SJ. I will be quite sad and a little concern when RSJ leaves--but he doesn't bring the daily job and laughter and occasional gut splitting that this blog did. It's been the funniest (in a geekily satisfying way) thing I've ever read in my life.

Not replaceable. Thus I can only mourn.

I feel like Yoko just broke up the Beatles all over again.

I will be less sad when RSJ leaves Apple (though I don't expect that nearly as soon as you do.)

My favorite inspiration site was called "The Secret Diary of Steve Jobs".

Then Steve left us without explanation.

::sadness::

I have a different (decidedly less technical or professional) take. A company this well positioned (and it is) in a down market is an opportunity to buy low with impunity when it pulls back. The question is how low, and admittedly, I've been floundering on that. But the best opportunity for profit is when the stock and the company are headed in opposite directions, all the better if the reason for the divergence is external to the company. Buy lower, buy slowly.

The market is typically full of weak companies going down and strong companies going up. Weak company going up (especially if you're already long so you don't have the risks of shorting) and strong company going down are much easier calls.

158 is a great price if you got in at 120.. or 130 or even 140... which you could have done with patience just months ago.

Ironically, in 1987, the day after the crash, the stock I was dying to buy was a very oversold AAPL (which was turning around at the time as a company--though NOTHING that can compare to its position today).

Keep some powder dry, and if the market crashes, what better stock to buy at fire sale prices?

Bozo may have brought joy to millions... but FS brought joy to ME. NEVER thought it got unfunny... NEVER.

rip fake steve.

If anything screams "It's over!" more than "real dan"... I can't think of what it would be.

Sadness...

Now let's be fair to Jerry... when you have hundred of unrelated initiatives to deal with, this stuff takes tim.

Not fair comparing them to a simple business... like one that has just search and ads, or one that has computers and devices that share most of the same OS.

And back then he had yahoo music to worry about.

Some days I just love the intarweb.
Today is one of them.

Of course, everyone knows you send the letter to Sue not Jerry.

Honestly, guys like Toni are our friends. They help us buy low.
Earnings and results will help us sell high.

It would be "chief yahoo!" except you're Iulia and Nataha's bitches too.

I think the real reason you didn't sell is that it would have taken you a 100 year process to figure out what to do with all the money.

The part I could translate was:
"be very afraid of using google apps."

Personally, I will keep my behavioral data to myself.
And begin thinking of Google as dangerous and MS as merely annoying.

Wrong in so many ways... I want to call it EXACTLY wrong.
Even the premise is wrong... Apple is making near oil company profits thinking about consumers not corporations (and letting those consumers sell the products to the corporations they work for.)

Apple is making billions in what is supposed to be a low margin commodity business (PCs) by being a complete, turnkey ALTERNATIVE to Windows.

Actually, what Apple needs to do to crack the corporate market is exactly what I just heard rumored... a OS X 10.6 that is simply focused on stability and performance.... not features. If this is true, it is once again shear genius. Because these are the boring things that make organizations and IT departments less or more productive. And MS, in its never-ending mac envy, has absolutely lost sight of this.

Now the commentards are counting digits.

=)

He isn't wealthy yet. He only thinks he is.
Valuations can deflate as fast as they inflate.
Until you are liquid it ain't real.

Oh you guys are so distracted by the politics that you are missing the point of this blog. FS loves to get commentards (and that's what many of you are) hot and bothered by making obvious mistakes. When the mistakes are geographical, the regular readers just sit back and wait for someone to get offended that a country has been placed on the wrong continent.

In this case, you are missing the joke right in front of your face... now exactly what is the 'N' word?

Any of you give any thought to the fact that you're arguing with... satire?

Clinstones
Meet the Clinstones
They're the modern Arkansas fam-i-leee
From the town of Little Rock
They should just be a page in history.

Someday, maybe Bill will win the fight
Meanwhile he likes staying out all night

When you're with the Clinstones...

I too long for the good old days when tech girls (okay at least the yelptards) made out with each other to get attention.

::sigh::

Whatever happened to the yelptards anyway?