Apple

Yesterday, the FCC published details on a new Apple TV that appeared to be smaller than the current Apple TV third generation. This information led to widespread speculation that a new model of Apple TV was about to arrive with new features too. Unfortunately it appears that this is not the case, the dimensions will remain the same but the internal components will be subject to just minor changes.

Here we go again. Another Apple quarter that demonstrates long term strength in its business, and another quarter where Wall Street is waving its hands in the air claiming that the business is broken. Apple shares are down over $50 (10%) as I write this.

Always remember value investor Benjamin Graham’s famous expression: In the short term the market acts like a voting machine. In the long term it acts like a weighing machine. Today, the voting machine dominates. But over the course of many product cycles, those daily votes amount to nothing. That’s why the market is volatile, and why I focus on long term investing.

While not specifically calling out the Wall Street Journal and Reuters for the lousy jobs they did reporting on supposed iPhone display order cuts and iPad display production halts respectively, Tim Cook went out of his way during Apple's Q1 2013 conference call to address supply-chain stories in general.

Over the last 15 years, Apple launched a website, found their footing, and then refined their internet brand slowly but surely. Charlie Hoehn compiled the history of the Apple.com home page into a slide show and posted it on his site, charliehoehn.com: