Re:Apple Reports Record Third Quarter Results
by eridius on Tuesday July 21, 2015 @05:38PM
(#9926008)
This always happens with Apple, although I admit that 6.31% is a bit on the high side.
In general, Wall Street doesn't act the slightest bit rationally around Apple. No matter how record-breaking Apple's numbers are, there's always some insane analyst that projected even higher numbers, which means everybody then reports Apple as a "miss" (even though they always beat their own estimates, and meet or beat all of the sane analyst predictions, which is most of them). And since it's a "miss", stock drops.
Really, what's more shocking is those very rare times when the stock climbs after-hours after an earnings report (or after the WWDC keynote or the annual September event).
In general, Wall Street doesn't act the slightest bit rationally around Apple. No matter how record-breaking Apple's numbers are, there's always some insane analyst that projected even higher numbers, which means everybody then reports Apple as a "miss" (even though they always beat their own estimates, and meet or beat all of the sane analyst predictions, which is most of them). And since it's a "miss", stock drops.
Really, what's more shocking is those very rare times when the stock climbs after-hours after an earnings report (or after the WWDC keynote or the annual September event).