AAPL, RIMM & GOOG oh my! but you can’t leave out GS!
What do all the above companies have in common? Well, for one they were all wallstreet darlings at one point. All have broke trend, but all have had what most would consider great earnings. Google missed wallstreet’s estimates by 1 cent today and subsequently dropped like a rock after hours. yes you can blame investor skittishness on the economic downturn, but i blame the media and the school of fish mentality. They beat shit (their opinion) down our throats every single day with sensationalism on the most non sensational occurrences, this is exactly what scared everyone into selling these otherwise financially strong companies like scared fish. Its like smacking the side of an aquarium, the fish go NUTS and scatter, really for no reason they are not being harmed, (the only reason they scatter is because we hit the tank( consider the media the hand) once they realize this they will come back out to play. I believe this is what the market will do by summer, we will realize a lot of overreaction occurred because of oversaturation of the financial media opinion’s disseminated across all forms of news instilling a false perception of the TRUE US economic state.