Apple Rots
Though in many ways Steve Jobs was synonymous with Apple (NASDAQ:AAPL) up until his death on Oct. 5, 2011, most investors figured the company would continue to be a consumer-technology juggernaut, guided by current CEO and ex-COO Tim Cook. After all, Jobs put the iPhone 5 in the queue, and the next iteration of the iPad was a can’t-miss second-generation device.
Sure enough, both were hot-selling smash hits.
As Janet Jackson asked, though, “What have you done for me lately?”
Apple has uncharacteristically failed to wow investors with anything decidedly new in the hopper for more than a year, ultimately sending shares down 25% between September’s high and November’s low. Indeed, AAPL shares suffered their worst one-day loss in years on Dec. 5, falling more than 6% in just one session. It still hasn’t hinted at recovering from that pullback.
As of this writing, James Brumley did not hold a position in any of the aforementioned securities.
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