Apple announced their excellent earnings for this last quarter yesterday, and of course the stock started a predictable downward slide.
It happens every earnings call, Apple goes conservative on the next quarters guidance and Wall Street freaks. Hello! They do this every time! Big deal, everyone knows they’re going to blow away that guidance, so why freak out?
Anyhow, this an excellent opportunity to pick up some discounted Apple shares.
It’s that time of year again, at 2pm Pacific time on July 21, 2008 Apple will rock the world with their earnings call.
As always though, if the guidance for the next quarter is at all conservative Apple stock will tank… again. Analysts will likely have high expectations for Q4 since the iPhone 3G will be on sale for all but 11 days of that quarter, so when Apple does what they always do and purposefully underestimates their earnings for the next quarter it won’t match up with the hype and their stock will drop like a stone.
Look for a great opportunity to pick up some shares of Apple a few days after the earnings call.