Comments on: Is Wall Street still smoking dope when it comes to Apple?

One noted Wall Streeter says Apple can beat the odds of meltdowns all around and finish up the current quarter in fine fettle.

[ifiredmyboss.com]

I'd say they'll have a pretty good quarter but no business is recession proof. I would also say that the economic downturn is already factored into the share price.

[MadLyb]

No company is recession proof, especially companies that sell products to consumers that are not part of their daily needs.

While Apple has some pretty good fundamentals, the stock price was more a reflection of Apple's current coolness and the recent price corrections are indicative of that.

Investing on something other than fiscal fundamentals is the realm of the day trader.

[sbwinn]

Why are we talking about recession at all? Recession = 2 quarters of negative GDP. We haven't even had one yet. With all this yacking about recession going around you'd think the sky was falling. I guess in journalist-speak good times = shaky, downturn = recession, recession = depression, depression = the end of the world.

[plbyrd]

Someone, anyone, please point to this so-called recession. Seriously. Have we had three straight quarters of negative GDP growth? Last I checked, not only have we not had three quarters of negative GDP growth but we haven't even had one quarter of negative GDP growth. The talk about a recession is simply the wishful thinking of leftists (ie. the majority of the media) hoping to get the Republicans blamed for Bush's "failed economic policy" so they can get Obama elected president.

[dadsgravy]

You are retarded! And I'm not just calling you names. Your I.Q. is shameful and you should keep your thoughts and opinions to yourself. Maybe with some time and a work shop or two, you might be able to become a productive member of society.

[FellowConspirator]

Not "negative GDP", it's "negative GDP growth". We pretty far from a negative GDP.

The "real GDP" has increased, but is almost level right now (increased 0.6% last quarter, refer to http://www.bea.gov/national/index.htm#gdp). However, real GDP calculation doesn't directly account for the devaluation of the dollar. If you take that into account, we've had a slightly negative real GDP for the past 2 quarters (and it looks like 1Q2008 will also be negative -- GDP is flat dollar-wise, but value of the dollar is going to be off 5% or so). So, yes, technically, we are in recession, but not a big one (yet - we'll see).

[rEllsworthB]

What many forget is that 2007 iPhone and iPod touch sales will be showing up on the books as the sales are amortized over 24 months. This gathering sales momentum will compound when these sales keep coming onto the books and increasing profits. The other aspect that rarely appears in print is the rapid filing of new patents that come out every week. Apple is clearly busy with R&D and more surprises are likely. With their large cash equivalent holdings everyone talks of acquisitions or spectrum purchases. Meanwhile, Apple keeps laying the groundwork to dominate entertainment delivery to people at home and abroad. Watch out for Apple TV come Fall. Meanwhile, the iPod touch will become a portable game platform of importance this year.

[dylan214u]

I suggest getting off your rears and heading to a Apple Store and see what's happening. I was in the Lenox Mall in Atlanta today at 2:30 on a Thursday and the place was packed. No that may not mean anything, but electronics were flying out of there!

[plbyrd]

@FellowConspirator

I clearly stated negative GDP growth, which means that from quarter A to quarter B that the GDP went down. This has not happened yet, much less three straight quarters. You cannot cook the numbers by saying if you compare our economy to another economy that we did have negative GDP growth, it simply doesn't work that way; you could make that argument at any time that another currency is gaining value faster than our currency. Go ahead and continue listening to the media; if they say we're in a recession then we must be in a recession. I mean, who are we educated people to challenge the veracity of the statements made by a media that has publicly admitted its allegiance to leftist forms of government. What better way to achieve that goal than to persuade the American public that capitalism is bad, we're always in a recession, their bigger paycheck means nothing because tomorrow is going to be doom-and-gloom unless you vote for the current leftist Presidential candidate du jour.

[biobot]

As a recent mac convert I find myself visiting the Apple store in Atlantic City ane that place is always hopping. Apple does seem to know how to hook customers much better than the Wintel folks.

As for recession proof, that is just bull. But I would not count them out for growth that exceeds all others in the pack.