Posts filed under “Corporate Management”
Daring Fireball points out that following most new Apple product introductions, the stock price tends to fall:
Here are the Steve Jobs product announcement stock action:
• 23 October 2001, introduction of original iPod: AAPL fell about 5 percent.
• 7 January 2002, Macworld Expo keynote: AAPL fell 4 percent.
• 7 January 2003, Macworld Expo keynote: AAPL fell slightly.
• 6 January 2004, Macworld Expo keynote, introduction of iPod Mini: AAPL fell slightly.
• 11 January 2005, Macworld Expo keynote: AAPL fell over 6 percent.
• 10 January 2006, Macworld Expo keynote: AAPL rose over 6 percent.
• 9 January 2007, Macworld Expo keynote, introduction of the iPhone, now seen as the biggest and most important product introduction in Apple, and perhaps industry, history: AAPL rose over 8 percent.
• 15 January 2008, Macworld Expo keynote, introduction of MacBook Air: AAPL fell over 5 percent.
• 9 June 2008, WWDC keynote, introduction of iPhone 3G: AAPL fell 2 percent
• 27 January 2010, introduction of original iPad: AAPL was up slightly on the day, but then dropped and kept dropping for days.
• 7 June 2010, introduction of iPhone 4 (last phone introduced by Jobs): AAPL fell slightly, then dropped 3 percent the next day.
Note that the 10 percent drop in Apple’s share price following the 5S/5C introduction would have been extreme in the Steve Jobs era. Today, its hard not a heads up comparison — the stock price has been more volatile, the shareholders even more short term oriented. (Not sure if the naysayers are any louder though).
As I wrote almost a decade ago in 2005, Wall Street still does not understand Apple: Analysts Still Underestimate Apple; Sell-siders simply don’t ‘get’ Steve Jobs’ company, based on Wall Street Remains Clueless as Ever as to Apple’s Products.
Funny how some things never change . . .
Fines here, fines there, fines everywhere! The Wall Street Journal discusses the proposed $11 billion dollar JPM fine, but buries the good stuff in this morning’s article on Jamie Dimon (This Generation’s Greatest Banker! ®) We have been tracking JPM’s fines, but if you want an industry overview, try this collection: Here is a quick…Read More
Click to enlarge Source: Institute for New Economic Thinking NYU prof Robert Engle, who long-time blog readers may recall from this post a ways back, won the Nobel prize for his work on Volatility. He has developed new ways to measure “Systemic risk” from his perch at the Volatility Institute at NYU: “We…Read More
Last week, I posted Andrew Ross Sorkin’s NYT video on “The Financial Crisis, Five Years Later,” with a single word editorial, all in caps: BULLSHIT. The views espoused in this video were such unmitigated nonsense that I ended up changing my Sunday WaPo column in part to respond to that silliness: Lehman’s thud signaled an…Read More
“Long-term commitment to new learning and new philosophy is required of any management that seeks transformation. The timid and the fainthearted, and the people that expect quick results, are doomed to disappointment.” -W. Edwards Deming Dr. Deming’s Ideas Dr. Deming’s famous 14 Points, originally presented in Out of the Crisis, serve as management guidelines. The…Read More
Time to update the tally: Each year, JPM has profits of about $25 billion dollars on revenues well over $100 billion dollars. Part of the cost of generating that revenue in a variety of dubious and even extra-legal ways are fines. Since 2011, JPM has been fined $8B: $56 million (April 2011) $153.6 million (June…Read More
Short list: 1. At the Ira Sohn Investment Research Conference in May 2008, hedge fund manager David Einhorn explained why he believed Lehman Brothers was insolvent. At the time, Lehman was already significantly off its highs but still trading above $40. 2. Lehman’s accounting was especially opaque, even relative to other investment banks (and that’s…Read More