With Apple's stock plummeting from just shy of $200 to $130.01, as of closing today; AppleInsider is claiming to have gotten a copy of Steve Jobs' letter to investors that he issued last week. In the letter, Jobs urged investors to "Hang in there." "Wow... what a remarkable last few days," Jobs said. "Our stock is being buffeted around by factors a lot larger than ourselves."
Jobs went on to say that he believed in Apple's fundamentals. He highlighted Apple stores, Apple's focused strategy, and forthcoming products as reasons why people should worry too much about Apple's stock. Apple does have $18 billion in the vault, as it were, so the company can certainly weather some rough quarters.
Jobs is currently the second largest Apple shareholder, behind only Fidelity Investments, with a reported 5.54 million shares. He has, no doubt, been hit hard by the recent happenings on Wall Street; but then again, who hasn't been?
Reader Comments (Page 1 of 1)
1-28-2008 @ 10:29PM
Fritz Laurel said...
I think you mean "shouldn't worry"...
I think what we're seeing is the expected mass-exodus of the wannabes who only picked up the stock earlier this year for the first time ever because "Apple is so cool, aren't they!"
And because they have no knowledge of Apple's history and no knowledge of Apple's customer base, they run in fear like children when an analyst cries wolf.
Things we know:
* Apple just posted an amazingly strong quarter
* Apple is making tons of money
* Apple continues to innovate
* Apple has a strong management team
* Apple has extremely high brand identification
* Apple has one of the most loyal customer bases of any company ever
* Apple stock has reached $200, and if Stock Market History 101 is to be trusted, it will reach $200 again. It's just a matter of when.
Then again, those are just my opinions. I could be totally wrong.
Cheers,
FL
Reply
1-29-2008 @ 10:38AM
Dee said...
I agree with you wholeheartedly!
Thanks for your input.
Dee
1-29-2008 @ 12:50AM
Quix said...
Mac sales continue to accelerate.
Apple retail stores are a smash success.
AppleTV is finally a viable purchase - and the online video market is wide open.
Nothing is close to dislodging the iPod from its lofty perch.
And the iPhone is just starting its assault on the *huge* cell phone market. Not only is Apple making money on each iPhone sold, but it's making money from monthly AT&T calling plans. Top that, Nokia.
Apple's future is huge. The big drop in stock value is disappointing (and stressful), but I've no doubt we'll all look back at it in amusement in a year, and two, and beyond. Only Steve's arrogance could ruin things now, but I think he's learned a lot over the years (so how about that mid-range tower now, Steve?)
This could very well be a stock I can retire on in 20 years. Maybe even 10. :)
Reply
1-29-2008 @ 1:13AM
Shawn said...
Your post says gives reasons "why investors should..." I think you meant should not...
Reply
1-29-2008 @ 2:33AM
Zaxour said...
Wow, looks like a prime buying opportunity. I'll definitely buy if it dips below $100 again.
Reply
1-29-2008 @ 6:48AM
robogobo said...
hmmm, maybe they should've put a firewire port in the MBA.
Reply
1-29-2008 @ 7:10AM
Scotty down_under said...
sell sell sell !!!
(then some of us might be able to afford to buy 10 shares).
Reply
1-29-2008 @ 10:34AM
Dee said...
Right now it seems all the tech stocks are on a roller coaster ride. I'm sitting on a loss of $800 +/- but this is one stock I have faith in because I know the man sitting at the helm. In fact, I own 150 shares and have a limit order for an additional 50 shares to round it off to 200 shares.
We must believe in America and support our economy. Let's get rid of all the doomsayers on CNBC and the talk shows that are bringing this market down with their scare tactics. I like Larry Kudlow he is one of the rare positive people, the type I want to hang out with.
Reply
1-29-2008 @ 11:43AM
Jon H said...
Kudlow's financial thinking sounds like he's on heavy doses of ketamine. The man's insane.
He said the following about Bush prior to the State of the Union: "While all is never perfect, you have delivered on the most fundamental hopes for the nation: peace and prosperity."
Peace and prosperity? I rest my case.
1-29-2008 @ 12:28PM
Zaxour said...
Peace: We haven't been attacked again since 2001
Prosperity: Our economy has been the best it's ever been (Didn't the dow reach 14k at one point? And it's still above 11000)
1-29-2008 @ 10:46AM
Bryan T said...
Buy Low!
Reply
1-29-2008 @ 11:48AM
gavin said...
The letter was to the employes of apple not to investors
Reply
1-29-2008 @ 11:39AM
Jon H said...
Yep. If it was to investors, it would be on their website. I think legally they'd have to release that kind of message to everyone at once, not just 'investors' - Apple doesn't have investors' email addresses.
1-29-2008 @ 7:58PM
Bearxor said...
That picture is missing something... I can't quite put my finger on it...
Oh yeah!
The halo! Where's the halo?! I demand you restore Mr. Job's halo immediately!
Reply