For those of you just tuning in, financial “analyst”, Scott Moritz of theStreet.com, has proven once again that he doesn’t know jack when it comes to Apple, how the technology sector works, or even the stock market. Moritz first spread rumors that Wall Street expected Apple to sell upwards of 1 million iPhones in the weekend launch of their new product. This despite the fact that no one but Moritz himself had circulated that figure to the press.
Then, later when Apple dropped the price of the iPhone, he reported that the move was because the iPhone wasn’t selling as fast as “some optimists” (read Moritz himself), had expected. According to Moritz, Apple dropped the price to keep sales brisk and catch up with Wall Street’s sagging expectations. More factless speculation on his part, especially since the iPhone eventually hit 1 mil units in just 74 days.
Now we can say with absolute certainty, that Moritz was full of crap on at least one other report he filed. On October 17th 2007, 9 days before Leopard went public, he reported from theStreet.com that Apple would be shipping an ultra-portable 13-inch laptop as a companion to the operating system launch. Do you remember Apple announcing a new 13-inch MacBook on Leopard’s launch day? No, your memory isn’t fading. You didn’t just happen to miss the news that day. Moritz’s prediction never happened.
Not only did it not happen, there was no reason to ever believe it in the first place. Apple has never announced new hardware in tandem with an operating system release. Never. And why would they? Jobs wouldn’t risk overshadowing an OS launch that has taken years for Apple to develop, test and ship with that of a flashy new sub-notebook or powerful desktop computer. Any “analyst” who tells you differently is blowing smoke up your ass for some reason. As I’ve speculated before, I suspect Moritz is either very bad at his job or is intentionally trying to manipulate Apple’s stock price. Either way theStreet.com needs to grow a spine and get a new Apple expert. All investors of AAPL need to know is anything that comes out of Scott Moritz’s mouth or published in his columns isn’t worth the time it takes to watch or read it.
Disclosure: I own stock in Apple Computer.