Apple reported record sales of 51 million iPhones during the last quarter, up from 47.8 million in the same period last year. The company sold 26 million iPads, also a record. Apple also reported a profit of $13.07bn, virtually identical to the $13.08bn profit of the previous period. Revenue grew 5.7% to $57.59bn from $54.51bn in the same period. So, of course, you know what happened: Apple’s stock price was driven down. The reason: Wall Street analysts “expected more.”
I ask again, why do fallible predictions, made by fallible people count for more than reality? I also ask, why do people pay so much attention to the stock markets when they have no more reality behind them than do video games?