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iPod Mac rant

Why stock analysts are worthless

(Alternative title: There’s an reason the word “anal” is in “analyst”)
Apple quadruples its profit, but the stock takes a ten percent-plus dive because the company “missed” the number of iPod sales stock analysts —who are not employees of Apple, do not sit on the Board of Directors, and who are not Apple executives— said they thought the company should have sold? They sold 6.4 million iPods in a three months. How many Rios did Creative sell in the last three months? Oh, that’s right, they canned that music player.
Hold on, it gets better.
Those same analysts, who are poo-pooing Apple for failing to sell as many iPods as the analysts thought they should have sold, seem to think Delphi is a good buy. No wonder monkeys are just as good at the stock market as these guys.
[With thanks to John Gruber, and Matt Deatherage and W.R. Wing on the MacJournals-Talk list.]