This article originally appeared on April 26, 2013 on
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Now, think about it.
Think about who has disappointed this quarter. First, obviously, there is
(AAPL - Get Report) with a quarter that is now regarded as the benchmark of bad quarters with the most downgrades and price target cuts of any this year.
Apple used to be the largest-market-capitalization company there is, before passing the torch back to
(XOM - Get Report), which, yes, reported the worst quarter so far of any oil company.
Then there is
(IBM - Get Report)
, the bellwether tech company of the Dow Jones with a hugely-disappointing report that drove the stock down 22%, or 10% in a couple of days' time.
Or how about
(AMZN - Get Report)
? Is there a more-important retailer save
(WMT - Get Report)
out there? I don't think so, and yet its report struck people as sorely wanting and the stock got pummeled for almost $20.
, one of the cornerstone industrials out there, which reported a heavily-disliked quarter and then gave you a forecast cut that sent shudders down peoples' spines; spines of those who are used to this company's consistent earnings growth. It got dinged again today after being clipped hard on Friday's report.
, the largest phone company, which gave you a quarter that sent the stock down the hardest I can ever recall it getting hit in one day. Just a nasty decline for the $200 billion behemoth and the commentary made you feel that there's no real growth there at all.
But it wasn't as horrid as the quarter
Procter & Gamble
, the one that dropped the stock to $76 from $82 before it stabilized today. Procter, at $200 billion, is the largest consumer-products company out there and it was just a nasty report.
How about our two biggest chip companies,
? We understood that Intel missed. It is too linked to personal computers. But Qualcomm is Mr. 4G. It is supposed to be perfect. Two more $100 billion companies that blew the quarter.