Some Common Cents for April 19th 2013

Disclosure: Oakworth Capital Bank owns Apple Inc. in client accounts.

One of the more perplexing questions we get is: what is going on with Apple? Unless you have been in a cave, you know the stock has taken it on the chin, and then some, over the last 6 months or so. This as the company has produced decent results, and increased its hoard of cash.

Looking at the balance sheet and income statements, you would be hard pressed to come up with a good answer to that question. In my opinion, there has been nothing to suggest or warrant such a rapid decline in valuation. Are operating profit margins still high? Check. Does the company still gin money with the best of them? Check. Is the brand still a global leader? Check. I will spare you the details. The answers are: check, check, and check. The one exception: is Steve Jobs still the CEO? The answer there is clearly no…Read On…

The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.