A "Holy Fucking Shit" Quarter
Remember back in October when after a rare “miss” by Apple (which was only a miss because analysts are stupid and lazy), the early signs pointed to the potential of a $40 billion quarter? Some thought that was insane given that Apple had never even had a $30 billion quarter before. Well, turns out that projection was a little insane — insanely low.
Try a $46.33 billion quarter.
It’s a number so insane that it even destroys the $42.76 billion blow-out “whisper” number.
As for the early projections of 34 million iPhones sold — which again, some people thought were crazy — also low. Try 37 million.
But hey, Android is winning, right?
As for the other numbers. 15.43 million iPads. A record. 5.2 million Macs. A record. 15.4 million iPods. Not a record, but no surprise — this is the age of the iPhone.
That stock you were an idiot for selling? Up 10% now, well past $460 a share. By far an all-time high, pushing Apple’s market cap well past $400 billion.
I’ll be listening to the call at 2PM PT and posting some follow-up thoughts on TechCrunch. Stay tuned.
Did the stock market finally get a fucking clue re: Apple stock valuation?
One can only hope.
So what was Lukken’s reward for helping the financial services industry avoid such reforms? Well, Lukken has just been named to head the Futures Industry Association, or FIA, the chief lobbying arm of futures investors.
This follows the Tauzin pattern of revolving-door hires: a government official carries water for a powerful industry, then moves on to take the cushy job with the industry’s lobbying arm once he leaves office.
Among people who follow these markets for a living, the Lukken hire had an embarrassingly over-the-top quality, like a CEO who goes the appearances-be-damned route and puts his 23 year-old secretary/mistress on the board of directors.
So the “good news” lasted 40 minutes?
Sounds about right.
It was in 1979 that Warren had her Damascene conversion—the experience that would lead her to become the nation’s top authority on the economic pressures facing the American middle class, and trigger her passionate advocacy. In 1978, Congress had passed a law that made it easier for companies and individuals to declare bankruptcy. Warren decided to investigate the reasons why Americans were ending up in bankruptcy court. “I set out to prove they were all a bunch of cheaters,” she said in a 2007 interview. “I was going to expose these people who were taking advantage of the rest of us.” What she found, after conducting with two colleagues one of the most rigorous bankruptcy studies ever, shook her deeply. The vast majority of those in bankruptcy courts, she discovered, were from hardworking middle-class families, people who lost jobs or had “family breakups” or illnesses that wiped out their savings. “It changed my vision,” she said.
The Woman Who Knew Too Much | Politics | Vanity Fair
Elizabeth Warren used to be a registered Republican.
What on earth?
Also, remember how everyone thought Gold at 1900 was absurd? Currently at 1876. I’m not saying that reflects its real value, but it seems like an accurate representation of the complete uncertainty out there.
Spain.
