Made it home safe and sound, and finding out news about the server crashes have spread like wildfire. I helped break the news over at Macenstein, but I think everyone eventually got the message.
The iPhone 3G launch was a worldwide event. Something had to go wrong. It’s too bad that “something” was of this magnitude.
The madness continues, but us AAPL investors have to be feeling better than we were just a few months ago.
Conventional wisdom says buy on the rumor, and sure enough – after the iPhone 3G announcement, AAPL stock took a bit of a dive. It’s been bouncing back and forth (with the markets, apparently, in red and orange above), now resting at $173 as of today’s closing.
Apple is in good condition, and with the iPhone price drop, I can only imagine things will get better. And others agree (including a blogger I read regularly over at The Simple Dollar). The final pricing point doesn’t matter. What’ll be interesting is to see how the stock performs come July 11, when lines outside Apple stores will surely beat last year’s. I hope to be at our own Ann Arbor store that morning. If it’s anything like the store’s opening, it should be a fun day, indeed.
For all the speculation and gambling and non-news that gets thrown around in regards to Apple, what matters most is the ability of the company to churn out high-quality computers and phones and music players that people want. And they are doing that.
If, as king-hell capitalists believe, a company’s stock price is the true measure of its worth, than Apple is in good condition. Says one analyst (thanks to Reuters):
Analyst David Bailey also raised his target on the stock to $220 from $185, and said Apple should be able to increase its available iPhone subscriber base by more than 80 percent this year due to aggressive expansion into international markets.
Will all that optimism change should that Jobs guy leave the company?
Who can tell? The experiment marches on, anyway.