Apple has a lack of any real new products to drive strong year-over-year unit growth. Its existing products are getting stale.
More Quotes from Steve Fortuna:
Apple is, in many ways, a market unto itself, ... We believe there is a high likelihood that investors will overreact to this news and take down the PC names in sympathy. We would particularly view this as a buying opportunity for Gateway, and to a lesser extent, Compaq and Dell.Steve Fortuna
We see revenue growth accelerating to almost 16 percent in the second half, helping to drive operating margin expansion from the 4.5 percent recorded in first quarter 2000, and the 5.4 percent that we expect this quarter, to 6.3 percent and 8.2 percent in the third and fourth quarters respectively.
Steve Fortuna
We believe the company will meet its downwardly revised numbers in the third quarter, as well as bless the current fourth-quarter outlook.
Steve Fortuna
could fall victim to the difficult times that lie ahead for the industry.
Steve Fortuna
Despite some interesting announcements and a solid display of exciting technology, we don't walk away with the sense that the near-to-medium term prospects for the company are any brighter than previously thought.
Steve Fortuna
In our opinion, investors should not read this Apple blowup as evidence that PC demand is weak. Apple is, in many ways, a market unto itself.
Steve Fortuna
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