Back in October of last year, TechCrunch writer MG Siegler wrote an article entitled “If You Sold Your Apple Stock Today, You’re an Idiot.” The post was in response to Apple’s stock price dropping more than 23 points in 8 hours.
The crash was likely the culmination of Steve Jobs’ recent passing, initial reaction/disappointment to the iPhone 4S, and the fact that Apple missed The Street’s sales projections for their Q3 of 2011. But the negativity didn’t last long…
This morning, Apple shares passed $427 per unit for a brief moment, beating the company’s all-time high of $426.70 it reached back in October of 2011.
The news isn’t all that surprising though, as it comes in the midst of talk of a retina display-equipped iPad 3 on the horizon, and rumors that Apple is about to revolutionize the TV industry. Not to mention that the company’s Q1 2012 earnings call is just two weeks away.
For those who haven’t been keeping track, analysts are predicting that Apple sold in excess of 30 million iPhones over the holiday quarter. It’s expected to be the biggest three-month sales period in the company’s history — by a wide margin.
It looks like Siegler was right. Idiot indeed.