Valuist
07-21-2008, 08:48 PM
We've already seen RIMM, then MSFT and Google. Today, its the "beloved" AAPL. All have been taken out back and shot.
My guess? AMZN. They still trade at a multiple that's too high and with the perfect storm of housing collapse, credit crisis and $130/barrel oil hitting consumers NOBODY should be surprised when they say the guidance for the rest of 2008 flat out sucks. After last Xmas, AMZN was arguably the easiest short in the entire market. The only surprise was it didn't go down even further, but like they say, patience is a virtue.
My guess? AMZN. They still trade at a multiple that's too high and with the perfect storm of housing collapse, credit crisis and $130/barrel oil hitting consumers NOBODY should be surprised when they say the guidance for the rest of 2008 flat out sucks. After last Xmas, AMZN was arguably the easiest short in the entire market. The only surprise was it didn't go down even further, but like they say, patience is a virtue.