Apple will announce its quarterly earnings tomorrow.
These events used to be fun. Sadly, the realities of Wall Street, disconnected as they are from reality, make these events ultimately frustrating and sad. After a solid month or two of analysts doing everything they can to tank the stock, there’s no numbers in the world that Apple could realistically come up with tomorrow to make them happy.
And, if they did, the stock would tank because the analysts would say there’s no way they could top it next quarter, so sell, sell, sell.
Reality is unhinged from Wall Street.
Sales go up and down. There are natural progressions of products and product lines. Apple eventually eats its own and moves in new directions.
I’m almost wistful for the days when nobody cared, the numbers were small, and merely surviving was considered a success. Now, Apple is held up to impossibly high standards. And the metrics used to determine success or failure are just plain dumb. “Oh, no, the average price of an iPhone is only $640 instead of $646 this past quarter? Apple is doomed!” “Android now controls 80% of the market? There’s no way Apple can survive that — except for the fact that Apple takes 80% of the profits in that market, but let’s not let money get in the way of a specious argument.”
So I’ll look at the numbers tomorrow out of curiosity, just to see how product lines are faring. Then I’ll fire up the most awesome desktop computer I’ve ever owned — the one with an Apple logo on its front – and go back to creating stuff that makes me happy. I just hope the machinations of Wall Street don’t ruin it for the Apple employees who deserve to be well compensated.
Remember the good old days when Apple would make projections that everyone knew were a joke? They were so far on the low side that Apple couldn’t help but beat them every quarter even if they slept in for the three months. And Wall Street ate it up.