
The $450Bn wipeout: Apple's value fallen by more than FB's worth in 3 months - godelmachine
https://www.businessinsider.in/The-450-billion-wipeout-Apples-value-has-fallen-by-more-than-Facebooks-entire-worth-in-three-short-months/articleshow/67381808.cms
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anoncoward111
Most people don't realize how slowly bubbles pop. There is a lot of inertia
that props up stock prices.

Lehman Bros news broke around September 2008. The stock market didn't reach
its lowest lows until March of 2009.

Losing 45% in 3 months is a failure. Maybe not a catastrophic one, but whoever
was recommending buying apple in September 2018 is now revealed as having
_literally zero_ idea of what they're talking about.

I always feel bad for anyone who trusts institutional advice and buys stocks
at all time highs.

~~~
chewz
> Losing 45% in 3 months is a failure.

I had been critical of Tim Cook and his team for years - they had been
mismanaging that beautiful company. But it is hardly their fault from middle
term (few years) perspective.

They got golden goose and they had been milking every single dollar out of it.
And returning some cash (which they clearly have no idea how to put to the
good use) to investors. From their personal perspective (stock options,
bonuses, fame and perks) and from the perspective of Apple shareholders (ca.
2008) it had been very good 10 years. And this is what you do - grab as much
as you can because good times won't last forever. It didn't.

Sure - they had the opportunity to make Apple into Mercedes or BMW of personal
electronics - delivering great products for 100 years. But who cares about
forever?

PS. Same goes for FB. It was clear from the beginning that social networks is
just a fad that won't last. 10 years and so much profits is a good run. Move
on.

~~~
anoncoward111
Interestingly I agree with you. I mean, I don't think Tim Cook has done a bad
job of putting money in investors' pockets.

I am commenting more specifcally about institutional analysts (Goldman,
Oppenheimer, Morgan Stanley, Jeffries, and so on).

They have been recommending people purchase Apple stock for the whole year
now, saying the fair value for the stock is $220. As you and I know, it was
not long ago that it was more fairly valued at $70-110.

I don't know how anyone in good conscience can recommend such overvalued
prices on a clearly parabolic chart!

