Today's News On One Page
September 21st, 1999
|[Updated 5:15 PM] Analysts Flock To Confirm Apple As A "Buy," Apple Featured In CNBC's "The Edge"
In a somewhat surprising move, Apple analysts flocked to reassert their confidence in the company. Analysts from Warburg Dillon Read, BancBoston Robertson Stephens, and Advest Inc. all referred today's fall in Apple's stock as buying opportunities. According to CBS Marketwatch:
And according to a report from Reuters:
Analysts and reporters on CNBC also repeatedly reported and commented on Apple as a strong company and the stock as a buy.
Also, CNBC's The Edge will be featuring a report on Apple. The teasers have asked whether consumer loyalty will offset the bite that Wall Street took out of Apple today. The Edge is a financial show that will be aired at 5:00 PM CDT, on CNBC.
The Mac Observer Spin: The real story here is how Apple was referred to as "sector leader," an "industry leader," and other generally positive terms. The overall mood throughout the day and throughout the financial industry was utterly different than what we were finding even 2 or 3 months ago. In today's reporting, Apple was a strong company and a leader who had faced a momentary stumbling block that really wasn't their fault anyway. The blame was largely placed at the feet of Motorola and the normal problems associated with any new product ramp-up. This is symptomatic of a fundamental shift in the way that at least the financial professionals think about Apple. At times, it even seemed as if some of the reports were defending Apple, an unbelievable turn of events that is remarkably gratifying to witness.
In the meanwhile, Apple will still turn a profit for the 4th quarter and likely faces a stellar 1st quarter as pent up demand begins to be filled. Don't forget about the new iMac too. Financial results for the next quarter should be positive indeed.
|[4:00 PM] Apple Stock Watch: Apple Tanks To Become An Even Better Buy
Apple's stock dropped like a hot Apple III with loose components today in a harsh trading session. The market was reacting to an earnings warning issued yesterday that warned G4 shortages would hurt Apple's 4th quarter results. Since that time, news from the financial networks has practically revolved around Apple. The surprising conclusion being that Apple is still a great buy.
Apple closed at 69 1/4, a heavy loss of 9 13/16 or a whopping 12.41%. Volume was out of this world with 29,972,900 shares trading hands, more than 7 times the normal volume. Yesterday, Apple's price fell a like amount in after hour trading, so today's trading merely confirmed those losses. Before the warning was issued, Apple had closed at an all time high.
The rest of the market also took a major hit today with the Dow and the Nasdaq posting heavy losses. The Dow closed at 10598.47, a loss of 225.43, while the Nasdaq closed at 2821.10, a loss of 65.05. The Dow recovered somewhat in last minute trading and had been as much as 279 points lower. Analysts are calling today's sell-off one of the biggest ever in terms of point value (though nowhere near in terms of percentages).
Motorola, Macromedia, Adobe, and Symantec all traded lower. PC related companies also tanked with IBM, Dell, Microsoft, Intel, Hewlett-Packard, Compaq, and Gateway 2000 all ended the day in negative territory.
The Mac Observer Spin: None of today's losses for Apple have anything to do with their fundamental business. The general consensus is that Apple is still a great buy, and in fact, is an even better buy now that they are almost 10 bucks cheaper. We think that Apple will resume its upward trek within the next few days.
|[2:45 PM] Palm Document/Spreadsheet Converter Updated With New Features
by Kyle D'Addario
Semicolon Software has released HanDBase Desktop 2.0. HanDBase Desktop allows users to transfer database, spreadsheet, or word processing documents to their Palm Pilot organizer for easy, portable access. Version 2.0 is a major upgrade, with many new features. According to Semicolon Software:
|[2:30 PM] Online Music/Animation Mixer For MP3 and MIDI Released
by Kyle D'Addario
SSEYO Ltd. has introduced an online music mixing/creation program entitled FreeMixer. FreeMixer allows users to create online music and animation from small components or chunks. Currently, there are three versions of FreeMixer; one that makes MP3s, a general MIDI mixer, and an XG MIDI mixer. According to SSEYO:
The browser plugin is free, and Koan authors can create their own Koan audio with the $200 SSEYO Koan Pro authoring system. For more information, please visit the SSEYO website.
|[2:00 PM] Mac IRC CLient Gets A MAintenance Release
Kent Sorensen has released an update to Snak. Snak 3.0.2 is an IRC client allowing users to participate in Internet Relay Chat. IRC is a service that allows users from all over the world connect and interact (chat) about a wide variety of topics. Unlike Usenet newsgroups, IRC is real-time. In other words, it is more "discussion" like and less "e-mail" like. The new version is a maintenance release, and includes a number of bug fixes and performance enhancements. According to M. Sorensen:
Snak is available as shareware for a 30 day trial period, after which a $20 registration fee is required. For more information, visit the Snak web site.
|[Column] Wasting Time With The Idiots - Let's All Go to the Web, and Catch Ourselves a Flick
|[Column] On The Flip Side--The Ultimate Solution To Get Rid Of Windows|
|[11:15 AM] The Apple Trader says buy!!!
by Wes George
As Joe Kernan on CNBC said this morning about the lack of Motorola G4 chips, "The cup is half full or half empty depending on the way you look at it." It's a tribute to the incredible demand for the highend G4 that so many have been ordered, 150,000, in so few weeks. Jobs has noted that if this demand situation had come about only a few weeks later Apple would have made the earnings estimates. The huge demand for the G4 has taken everyone by surprise and this is a good thing. It should be noted that iBooks and iMacs are in no way effected by the G4 shortage.
It's not out of character for Motorola, famous throughout it's history for missing deadlines and demand levels, to be a bit behind the curve here. Investors hate surprises and Apple was ripe for a weeding out of the speculators who fearfully and greedily took their profits and ran last night. This is the pull back those of us left behind have been waiting for. Nothing has fundamentally changed at Apple Computer Co. The price advance will continue.
The Mac Observer Spin: Expect Apple to exercise its stock buy back plan over the next few days to give support to AAPL at the $72 level. If the market cooperates, AAPL should be back pushing new highs with in a few weeks.
|[9:45 AM] Universal USB Controller Receives Feature Packed Update
by Kyle D'Addario
USB Overdrive 1.2 is now available. USB Overdrive is a USB driver that handles all mice, trackballs, gamepads, and other input devices. USB Overdrive allows for universal configuration of all USB input devices, or for custom configuration for each specific device. USB Overdrive is also capable of handling multiple devices simultaneously. The new version includes several bug fixes and other enhancements. According to program author Alessandro Levi Montalcini:
USB Overdrive 1.2 is available immediately as shareware for $20. For more information on USB Overdrive, please visit the USB Overdrive web site. M. Montalcini also told us that version 1.2 should be available from Contour Design for owners of the UniMouse.
|[8:45 AM] FontAgent Receives Maintenance Update
Insider Software's FontAgent has been bumped to version 8.0.1. FontAgent allows Observers to easily manage font libraries reducing the strain on system resources. Version 8.0.1 address the registration process with previous versions of FontAgent. According to Insider Software:
FontAgent 8.0 is available for US$79, which will manage all fonts on all drives of any single Macintosh. A US$29 Limited Edition version is available which will allow users to analyze 250 fonts. You can find more information on FontAgent at the company's web site.