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Apple Quarterly Report, Why Do Smart People Behave So Strange?

Apple share price dropped 10 percent today after its revenues came up short of analyst estimates and sales of its macs and iPhones were not what Wall street expected. Still, Apple sold 47.8 million iPhones, a record, and 22.9 million iPads. The company also projected a softer-than-expected revenue range of $41 billion to $43 billion for its current quarter, below the more than $45 billion expected by analysts. I just do not understand people who invest in the stock market, even in a company trading at over $500 per share! You have to be very rich to invest in Apple at that share price, and the assumption, apparently wrong, is […]

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