NEW YORK - It is being speculated that Apple will report extremely high earnings after it reports, after the closing bell today. Andy "Raw" Kibbens the CEO of The Markets Are Open and known for being bluntly honest said that Jobs picked the perfect day to step down.
He continued "he stepped down on Martin Luther King Day which was a holiday and allowed the market time to think about his departure. This was unlike the departure of Mark Hurd the CEO of Hewlett Packard whose sudden departure caused the stock to drop nearly 10%. The second skilled part of his departure suggests that Apple will report a huge number after the close today. It can be seen that the stock is not going much lower because people expect a big number. This is the genius of such a departure. If his departure was tomorrow or one week ago the stock would have dropped much more."
At the same time Kibbens said "I believe this is negative news for Jobs's health. The timing of the announcement suggest he is critically ill. Why would he wait to such a date to release the news if he was not concerned with the stock price. It has been reported that he was only showing up for work 2 days a week before he stepped down. He handpicked this date."
Apple will report after the closing bell. Jim Cramer of Mad Money expects Apple to earn over $6 a share or $5.4 billion. The current consensus estimate is for $5.39 a share. Andy Kibbens is expecting $6.40 a share or $5.9 billion.
To read the full Apple report click here.
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