Apple lied and no one cares…

  • Posted: 14 January 2009 11:26 PM

    really….. nobody’s pissed off at apple besides me? Investors must be really used to losing money…

    [ Edited: 16 January 2009 01:37 AM by DawnTreader ]

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    Posted: 14 January 2009 11:37 PM #1

    I’m too shocked right now.  Sure I’ll be pissed in the AM.  I too lost money after having lost more this fall.  I personally switched to LEAPS as an aapl play versus holding common for fear of this and at least knowing what my downside risk would be.  Granted it’s more speculative than holding common but I was afraid this day would come.  I am sure I will be a little pissed off at aapl and their secrecy.  I’m also pissed at the media having a field day.  I feel bad for SJ.  He may be wired slightly different and may piss some people off but it’s hard to judge someone’s actions when they are going through a personal tragedy.  As an investor I do feel aapl dropped the ball.  Those willing to risk their capital on aapl will diminish.  Let’s see how investors react to this news over the next few days.  Could be bad, really bad, but sometimes the opposite of what you think will happen actually happens.  What’s up with Zach Bass coming out here with “insider info” as he called it.  That type of crap drives me bonkers and oh by the way is ILLEGAL.  Perhaps that is left for a thread in my brain and the SEC.

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    Posted: 14 January 2009 11:37 PM #2

    I’m not best pleased…  And if I’d bought shares heavily these past few days based on the previous Jobs letter, I’m sure I’d be steaming right now.

    That said, I don’t have reason to believe Apple ‘lied’ outright.  Lawsuits are coming, and they may uncover more concrete information one way or the other.  The experts quoted in the press today suggest it would be very difficult to prove Apple’s board engaged in fraud given what we know at present, especially considering the blurred private / public lines of an officer’s health.

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  • Posted: 14 January 2009 11:59 PM #3

    Winterpool, sadly, it’s hard to prove a lie. Look at all the banks….

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    Posted: 15 January 2009 12:27 AM #4

    Did Apple lie?  Investors will be wanting to find out the truth, and given the circumstances, I don’t blame them.  I wanna know myself!

    But right now it’s still too early to make presumptions of guilt.  If it were as easy as “Apple lied,” Apple would be looking at serious shareholder liabilities and criminal penalties right now, not to mention a gigantic hit to its image.  Even the “ask me anything” experts who’ve spoken out on this issue so far seem to be in agreement that Apple isn’t at serious risk of losing a lawsuit right now.

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    Posted: 15 January 2009 12:31 AM #5

    litespeed - 15 January 2009 03:59 AM

    Winterpool, sadly, it’s hard to prove a lie. Look at all the banks….

    What exactly is the lie that you are referring to?

         
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    Posted: 15 January 2009 12:32 AM #6

    Duplicate post because I’m superstitious.

    Edit: I guess the question in my previous post is directed at Litespeed, not Winterpool, but I’m interested in any responses.

    [ Edited: 15 January 2009 12:34 AM by iBill ]      
  • Posted: 15 January 2009 02:16 AM #7

    I don’t know about guys the ones who do most damage to Apple stock price are the tech analysts who keep guessing how badly will Apple performs and keep on downgrading the stock, if you have a none to pick go at these guys first.

    And if Steve Jobs is so detrimental to the health of apple stock price the investors should demand his sacking…lol

         
  • Posted: 15 January 2009 02:36 AM #8

    Who lied?

    I don’t see at this point where someone lied. I’m sure Apple’s recent statement on SJ’s health was based on the best information management had when the letter was released to the public.

    Most likely the “leave of absence” is to protect the company and its interests now that new information concerning health issues has come to light (perhaps after more extensive tests were performed). Formal action needed to be taken after the most recent public statement because most likely new health issues were discovered and both SJ and the company had to respond publicly.

    Enough with the death watch everyone.  rolleyes

    Please let the man live (for as long as he lives), wish him a splendid recovery and get back to business.

         
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    Posted: 15 January 2009 03:35 AM #9

    iBill - 15 January 2009 04:32 AM

    Duplicate post because I’m superstitious.

    Edit: I guess the question in my previous post is directed at Litespeed, not Winterpool, but I’m interested in any responses.

    Obviously, I’m not Litespeed or Winterpool, but I had a few thoughts about this when I heard the news.  The first, of course, was deep sadness that SJ is so ill and, completely and totally without ANY insider knowledge, speculated that this could well be the return of the pancreatic cancer he successfully battled before.  [Yes, I know that mentioning such speculation will bring me bad karma for the next 20 lifetimes, but I’m being honest here.]  Then, I got a wee bit miffed because he lied about his health and anyone who can view images or has seen him in person knows he’s lied deep down.

    I’ve had serious health issues for the last 15 years of one kind or another.  However, I am reminded now of the confusion surrounding a diagnosis of the most unrelenting of my health issues.  I knew I was sick, though I didn’t know why.  My doctors kinda, more or less knew I was sick and first misdiagnosed me—though with good reason because of something on an x-ray.  Further testing revealed that I didn’t have what was originally thought, which was a relief.  However, that meant that: a) I wasn’t sick, or; b) I was sick and they didn’t know what was wrong.  We all went with b. 

    If this can happen to me, then something similar may have happened to SJ.  If so, the circumstances would tend to discount the assertion that there was a lie.  His doctors could have told him that he had one thing and he really had another.  I honestly pray this was the case.  My gut tells me it wasn’t.  I’m sorry, but his appearance belied any credible diagnosis other than that he was REALLY sick.  By that I mean so sick that if something wasn’t done very, very soon, this guy was going to die.  I am not being an ignorant alarmist.  I’ve just seen too many people who’ve had serious, life-threatening illness.  Given his history of cancer, that would or should have been one of the first things that was checked.  But instead of saying something more in line with the truth—“Steve is ill and is working with his medical team to determine the cause.”—we got garbage about a virus and then a hormonal problem.  I understand that he is a human being first and foremost and, as such, deserves his privacy.  However, he is also the CEO of a publicly traded Fortune 50 company and his health will affect the company in myriad ways, not the least of which was attending the largest trade show in the U.S. with a focus on his company’s products—especially since it was the last trade show at which there would be a corporate presence.  This just smells, people, and it don’t smell like Chanel No. 5.

    All of the accusations of dishonesty aside, Steve Jobs is only a man.  That is to say, he is a human being with faults and frailties like all of us.  It is one of the most difficult things on earth to hear a diagnosis that means life as you know it is over.  Gone.  It is even harder to hear that your life, period, is gone.  As one human to another, my heart sank a little bit today when I heard and read the news.  Jobs has meant so much to the tech and entertainment industries that his contributions are difficult to completely list.  It is true that there are a lot of fabulous people at Apple who are responsible for inventing technology.  However, it was Steve who put the various pieces together with his grand vision of what should be and how to get it done even if he was a bit of a jerk when it came to reaching his goals and working not only with his colleagues but with business partners as well.  Be that as it may, no one can argue with the results.  In the years since Jobs 2.0, Apple has soared.  It is my fervent hope that he returns in late June.  It is also my hope that he begins to get the public used to associating this Cook fellow with Apple’s successes in a way that is similar to Jobs’ association.  Granted, Cook didn’t found Apple like Steve, but that doesn’t mean he can’t take it into the future if that future, ultimately, does not include Steve.

         
  • Posted: 15 January 2009 05:39 AM #10

    Investors ARE pissed, but what can they do about it? Take Apple to court? What’s their case here - he lied about his health? Prove it.

    Yes, Apple’s handling of this case is quite atrocious and really makes you think twice about investing in a company that in the best case scenario tells half truths and in the worst case…

    But is Apple a bad company to invest in? I still believe the answer to that is no, and that, Steve Jobs’ health aside, their fundamentals haven’t been affected by this. Their shares will probably suffer in the short term, and test the low 70’s or even high 60’s range for some time. However, barring any disasters next week with respect to the earnings report and should Steve recuperate quickly and come back in 3-4 months, I think no long-term damage has been done to the company and to the share-holders.

         
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    Posted: 15 January 2009 09:20 AM #11

    artman1033 - 15 January 2009 12:49 PM

    Steve Jobs should announce his COMPLETE resignation from the company.

    At this point, I doubt that will every occur completely. He may leave as CEO but remain on the BOD. 
    In any case, I suspect his leave of absence may very well signal the end of Jobs’ reign as CEO. His reluctance to resign outright may be only to provide guidance, vision, and training during the interim.

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    Posted: 15 January 2009 09:45 AM #12

    I am not willing to say that Apple lied.

    I don’t know that something new wasn’t discovered between Steve’s first and second statements.

         
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    Posted: 15 January 2009 10:05 AM #13

    A lot of things are being said that I look upon as irrational and hysterical.  I don’t like it, but I try to look past it with the understanding that the Market is a guessing game.

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    Posted: 15 January 2009 10:10 AM #14

    lsmith - 15 January 2009 01:45 PM

    I am not willing to say that Apple lied.

    I don’t know that something new wasn’t discovered between Steve’s first and second statements.

    Exactly!  Medical conditions can change quickly. Diagnoses can shift. My previous story about my grandmother started 3 months prior when she was diagnosed with pneumonia.  They were wrong. 3 months later they found out it was lung cancer. She died 3 days after the correct diagnosis was made

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  • Posted: 15 January 2009 10:27 AM #15

    I have to say I’m disappointed at having been misled for the past couple of weeks. But I feel I can’t really complain, despite the clumsy way this has worked out over the past 6 months.

    On both occasions when health issues prevented him working, SJ for some time chose to serve Apple in preference to dealing with his own health. It seems to me most likely that the original message he issued was as much as he knew, and it is only since then that he has devoted the time to being properly tested.

    We have to accept that SJ operates by visualising the future so powerfully that he sees the steps that must occur to get there when others don’t. He has often blocked out important conflicting input from others, but equally, he can reverse overnight, adopting and adapting quickly when he recognises the situation.

    My best guess is that he was dealing with health issues in a formulaic way during 2008 so as to focus on Apple, and it’s only now that he’s taken the time for a fuller evaluation.

    I thought that with maturity he had become more balanced in his behaviour. But this latest episode suggests he can still be trapped by his own RDF. But I also think in setting aside his own health, he has been acting in the best interests of his vision for Apple and the future.

    As to what Apple loses without SJ, I believe the vision is broadly embedded in the company now, and the autocratic management style has as many disadvantages as advantages, especially as Apple gets bigger. What I haven’t seen in anyone else is his incredibly astute business strategy and tactics. The man knows how to make money, and he knows how not to lose it.

    The rabbit that Palm has pulled out of the hat with Pre shows that it is possible to learn SJ’s skills. By creating a proprietary UI layer on top of open source Web 2.0 created by Apple and others, Palm have put together a chance for the future from technology and business pieces each of which appeared to be insufficient for the task.