> Shaw Wu with Kaufman Bros. said in a note to investors Thursday that some have incorrectly interpreted the information from Apple’s 10-K filing as new guidance. He noted that the information is consistent with what the company said in its most recent earnings call, and in almost every annual 10-K filing about the upcoming fiscal year.
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> “Keep in mind, SEC filings are written by lawyers and tend to be conservative and cautious, as this is the most prudent thing to do from a legal standpoint,” Wu wrote. He has recommended that investors take advantage of a potential share weakness.
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> Wu also noted that investors who may have become fixated on Apple’s cautious gross margin projections would have passed on a “significant investment opportunity” the last 5 to 7 years.
via [appleinsider.com](http://www.appleinsider.com/articles/10/10/28/concerns_over_reiterated_forecasts_in_apples_10_k_filing_overdone.html)
Amazing, how I predicted yesterday that Wall Street would overreact to Apple’s gross margin warning, and they actually overreacted. I must be clairvoyant.
I love how this guy suggests that investors “take advantage of a potential share weakness.”
In other words, we’re all overreacting on purpose, so our rich friends can buy the stock cheaper than it’s worth and make a fortune later.
Full disclosure: I own an insignificant amount of stock myself, but I haven’t bought any new Apple stock since I was a part-time employee back in the early ’00s. I’d say THAT was a good time to “take advantage of a potential share weakness”, considering I bought that stock at $8, and it split a few times since then on its way to the current $300+. If only I had had thousands, instead of tens, of dollars to invest back then. Still, while it’s not going to help me retire early, I’m holding on to it for a while. Might buy a few books for my kid’s first year in college.
