Apple Quarter Results vs. the Human Condition
Recently I was asked at a conference why there were no more IPOs in the VC industry. I, having been a stock broker, reminded everyone of how finiky, how susceptible to emotional rumours traders on the floor of the exchange are, and how sometimes, as a CEO of a startup turned IPO story, you would sleep better if the shares of the company were not trading in a diabolical spinning wheel such as the public markets. I would rather deal with a bunch of shareholders that give me stick at every board meeting than going through what Apple is this week.
Here is a company continuously breaking the norm, uplifting the paradigm and shaking sectors, first the PC, then the software on the PC, then digital music and now mobile. That seems like a very good track record to me. And the figures, reported in my previous post, are above expectations. Still, Steve Jobs, the man at the helm, is sick and rumour has it, this could be the big C hitting back again. So the shares went down earlier this week about 6.3% to US$155.87
I get upset when these things happen. If the financial markets were the business of gossip, celebrity and personal speculation, I accept this behaviour. But to just throw away good, solid financial results out of the window, in a market begging for good results, simply because everyone is concerned about uncle Steve, is infantile, emotional and proves that men are also the victims of PMS: Panic Mood over Steve.
Grow up people. Fund managers are sweating on a daily basis to keep it together. Let the emotional paranoia to us females, will you?