When a company selling at this valuation and is this much of a Wall Street darling, and what we call a cult stock, misses earnings to the degree it missed here, the stock is really going to be hurt by it.
More Quotes from Tim Ghriskey:
They are spending heavily to encourage future growth. They've got a lot of competition. Their competitive edge is their brand name and shopping experience.Tim Ghriskey
There are some high-profile upgrades this morning, and Exxon Mobil and Intel are certainly helping the market. Adobe earnings, the current account number coming almost in line, and the moderation in oil prices will be a positive on the market.
Tim Ghriskey
Its valuation means it's priced for perfection and perfection was not delivered this quarter.
Tim Ghriskey
It's taken a while to generate the real increase in trash levels that these companies benefit from. That's what we're finally seeing flow through here.
Tim Ghriskey
Big positive surprise, especially in the face of the spike in oil prices in August. The guidance to a higher number for the year just shows that the core business is extremely strong and the company is confident that it continues to strengthen for the rest of the year.
Tim Ghriskey
There are a lot of investors we find who are hanging on to technology stocks with the hope that they're going to rebound, and that's still a very dangerous thing. We really need the capitulation of those investors. So we still could see more downside on the Nasdaq and in technology.
Tim Ghriskey
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