Manhattan Venture Partners Chief Economist: Apple is Still Minting Money
After Apple's Financial Conference Call concluded today, shares of AAPL stock fell by roughly 6.75% as noted in the chart below. One of the voices of reason on Wall Street was that of Max Wolf, Chief Economist, Manhattan Venture Partners. According to Wolff, Apple is always a buy the rumor sell the fact company that tends to trade off a little bit like they did today after they report. However the news is very good. 39.7% margin is just phenomenal. They didn't just hold, they beat on the margin which is a big number here. They shipped a few less phones than everyone thought but still 35% year-over-year growth is phenomenal with a huge revenue number closing in 50 billion dollars on a quarterly basis. At the end of the day, Wolf says that Apple is still minting money. You could catch the Reuters video interview here.
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