The Business Press Maven

Maven: Apple's Bombast and Bashfulness

 

Could be. Mac sales, it is true, were slightly disappointing in the just-reported quarter. And The Business Press Maven is worried about the sustainability of iPod growth and profitability. If the iPhone replaces it, I will walk down Wall Street in a sun dress ... while twirling my parasol.

But please, let us emphasize several times that Apple makes a habit of toying with expectations. The business media take their modesty too seriously, because it flies in the face of their over-the-top product promotion.

Essentially, it's two versions of the same thing: an attempt at manipulating and managing opinion.

In addition to mentioning how Apple finesses expectations, how about adding some lively examples? They abound -- even when the company isn't actually touching the numbers.

Once, when the company actually raised expectations for a future quarter and spoke with well-deserved pride on the "halo effect" that the iPod was having on other products, they then went on to say repeatedly that their growth was not sustainable.

"I don't see the recent growth rates continuing forever," CFO Peter Oppenheimer said. That was almost two years and lots of profits ago.

>To order reprints of this article, click here: Reprints

At the time of publication, Fuchs had no positions in any of the stocks mentioned in this column.

A journalist with a background on Wall Street, Marek Fuchs has written the County Lines column for The New York Times for the past five years. He also contributes regular breaking news and feature stories to many of the paper's other sections, including Metro, National and Sports. Fuchs was the editor-in-chief of Fertilemind.net, a financial Web site twice named "Best of the Web" by Forbes Magazine. He was also a stockbroker with Shearson Lehman Brothers in Manhattan and a money manager. He is currently writing a chapter for a book coming out in early 2007 on a really embarrassing subject. He lives in a loud house with three children. Fuchs appreciates your feedback; click here to send him an email.

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