Another reason for the Apple selloff: Two banks (Morgan Stanley and RBC Capital) cut their ratings on the stock.
“First, PC unit growth is decelerating and the remaining source of growth is increasingly in the sub-$1,000 marker, where Apple does not play” said Morgan Stanley analyst Kathryn Huberty, in a published note.
Oh if only there was some way Apple could lower the cost of their computers somehow. Obviously it sells the Mac Mini for less than $1,000 (even with added bling), but that doesn’t count because, um, it’s too small to be a real PC. And the news is grim on the laptop front, where the MacBook starts at $1099; there’s no way Apple could find room in its famously hefty margins to cut $100 off that. Looks like Apple is doomed.
Or maybe Morgan Stanley employ a bunch of shaved monkeys, and that’s why they’re doing so well at the moment.
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A friend who uses a Mac (the Air) and has been contracting for a while took a full time job that made her use a PC for the first time in a couple of years. She said “it’s like going back 10 years, it’s so hokey”. The reason I use a Mac: It’s Unix. Not to mention I’m learning how to develop Cocoa applications, I like the API so well.