Excerpts from the analysts' notes landed on our desk Tuesday morning
Add these to the reactions of Apple (AAPL) analysts that came in Monday.
BMO's Keith Bachman: "First, we wish Steve the best with his health issues."
Bernstein's Toni Sacconaghi: "Once again, Apple has chosen to provide limited -- we would argue inadequate -- disclosure about Steve Jobs' health, which is likely to leave shareholders frustrated, and with more questions than answers."
Merrill Lynch's MORE
Reaction is more muted on Wall Street than it was Monday in Europe. Stock closes down $7.83.
The day Apple gave U.S. traders to digest the news of Steve Jobs medical leave seems to have tempered Wall Street's reaction. In early trading Tuesday, Apple (AAPL) shares fell $22.48 (6.5%) from their all time high of $348.48 before starting to recover.
In the Frankfurt exchange, by contrast, shares plummeted 9.7% before they bottomed MORE
Philip Elmer-DeWitt - Jan 18, 2011 10:06 AM ET
A retired Navy analyst threads the needle through widely disparate earnings estimates
Source: Stefan Sidahmed
Stefan Sidahmed, a former submarine lieutenant commander who has been dabbling in stocks and options since he retired from the Navy, noticed that the Wall Street analysts who track Apple (AAPL) always seem to underestimate the company's quarterly earnings while the bloggers and independent investors -- whose estimates are usually closer to the mark -- tend MORE
Philip Elmer-DeWitt - Jan 18, 2011 9:04 AM ET
Fortune's final poll of Apple analysts -- professional and amateur
Click to enlarge.
We'll find out whose estimates were closest to the mark when Apple (AAPL) releases its earnings for the first fiscal quarter of 2011 shortly after the markets close. A conference call with analysts is scheduled to begin at 5 p.m. EST (2 p.m. PST). The hour-long session will be webcast here.
We'll compare the estimates to the actual MORE
Philip Elmer-DeWitt - Jan 18, 2011 6:53 AM ET
A curated selection of the long weekend's most newsworthy tech stories from all over the Web.
A conceptual rendering of the iPad 2 based on reported features. Photo: Gizmodo
A flurry of rumored iPad details hit the Interwebs over the weekend, adding more fuel to the flames. The thinner, sleeker Apple tablet could sport a dual-core 1GHz ARM CPU with a new SGX543 graphics and video core offering twice the processing power MORE JP Mangalindan, Writer-Reporter - Jan 18, 2011 6:00 AM ET
Can we really change the subject from Steve Jobs' health to Apple's holiday sales results?
Source: disneywallpaper.net. Copyright: Disney Corp.
Even for reporters who regularly cover Apple (AAPL) and are used to getting manipulated by the company's well-oiled PR machine, this is a headsnap.
One day we're supposed process the news that Steve Jobs is too sick to run world's most valuable technology company. The next we're expected to report -- as MORE
Philip Elmer-DeWitt - Jan 18, 2011 5:49 AM ET
Android 2.2 is now on the majority (52%) of Android phones that access the Android Market and almost 90% are on some variant of 2.x.
MG Siegler today writes iPhone User? 90% Chance You're On The Latest OS. Android User? 0.4% Chance. There is a bunch wrong with this argument so let's take it step by step.
First: 'Latest OS.'
Apple's (AAPL) latest iOS is 4.3 beta (like many developers and I are MORE
Seth Weintraub - Jan 18, 2011 12:44 AM ET
Apple's CEO, says one, is both the company's biggest asset and its biggest risk
Jobs' return from his last medical leave. Source: Gizmodo
The U.S. financial markets were closed, but a few analysts took a break from their Martin Luther King Day remembrances to say a few words about what Steve Jobs' latest health advisory might mean to Apple (AAPL) shareholders.
Morgan Stanley's Katy Huberty saw it as a "buying oppty ahead MORE
Philip Elmer-DeWitt - Jan 17, 2011 2:13 PM ET
Apple will be fine, again, under veteran COO Tim Cook. But the day will inevitably come when the board will have to a find a permanent replacement for their iconic leader.
Steve Jobs at an Apple event
Throughout the long, sad, information-deprived debate over the health of Steve Jobs, there have always been two parallel conversations about would happen if the Apple (AAPL) CEO were to leave his job prematurely.
On the MORE
Adam Lashinsky, Sr. Editor at Large - Jan 17, 2011 1:33 PM ET
Recovers to close 6.1% below Monday's opening. A preview of tomorrow's trading?
Click to enlarge. Source: Yahoo Finance
The chart at right says it all. Apple was sailing along at around 262.75 Euros ($349.35) when Apple (AAPL) released Steve Jobs' letter to the staff announcing his latest medical leave.
The stock went into freefall. In the space of 17 minutes, it plummeted €23.25 (8.8%). Within an hour, it had bottomed out at MORE
Philip Elmer-DeWitt - Jan 17, 2011 1:27 PM ETEvery morning, discover the companies, deals and trends in tech that are moving markets and making headlines. SUBSCRIBE
Receive Fortune's newsletter on all the deals that matter, from Wall Street to Sand Hill Road. SUBSCRIBE
Covering the digital giants of Silicon Valley and beyond, an in-depth look at enterprise companies, and the startups disrupting them. Written by Michal Lev-Ram and emailed twice weekly. SUBSCRIBE
Anne Fisher answers career-related questions and offers helpful advice for business professionals. SUBSCRIBE
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.24 | -0.06 | -0.82% |
| Ford Motor Co | 12.28 | -0.46 | -3.60% |
| Frontier Communicati... | 4.24 | -0.23 | -5.26% |
| Juniper Networks Inc... | 21.57 | -0.80 | -3.58% |
| Cisco Systems Inc | 19.58 | -0.25 | -1.26% |
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,666.89 | -67.74 | -0.53% |
| Nasdaq | 2,813.64 | 8.36 | 0.30% |
| S&P 500 | 1,315.93 | -2.50 | -0.19% |
| Treasuries | 1.92 | -0.01 | -0.73% |
.
