Yesterday, before Apple announced its earnings for the 4th quarter, Wall Street investors were selling the stock, nervous that the company might not meet “expectations.” That drove Apple’s value down about $7/share (a little less than 2%).
Then, after the markets closed, Apple released its quarterly earnings, and those “expectations” were completely wrong. The company sold 35 million iPhones and twice as many iPads as last year, not to mention a whole lot of Macs and Macbooks and Mac Airs — in 3 months. Today, Wall Street loved the stock again, running it up to a $26.25/share gain (6.24%).
I’ll bet that many of today’s buyers were yesterday’s sellers, the ones who blew it. Think any of those analysts’ jobs are in danger today? I doubt it.