Tuesday, April 26, 2016

Economy

Apple to announce worst quarter in 13 years.

IPhone sales down as Apple misses targets.

David Stockman laughs at the stock rebound.
"So never mind that earnings have fallen five straight quarters and at $86.53 per share are now down 18.5% from their September 2014 LTM peak. Also, ignore the fact that this quarter will be down 10% and that there is no rational basis for a rebound any time soon."
So...
"In a word, the stock market is not worth even 15X its current earnings or 1300. At length, the carbon units out there catching today’s bouncing dead cats will thank their lucky stars if their losses are only 40% from here."
But when?

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