Apple’s quiet bull market

Is what we’re seeing now a “dead cat bounce” or the start of a true comeback?

Remember when Apple investors were almost as sad as gold investors?

Just six weeks ago, investors in the Cupertino-based company looked at their portfolio statements to find Apple down over 25% for the year. Sure, putting money is stocks is supposed to be for the long haul. Even so, a company’s value fall by one quarter in half a year is no fun for shareholders.

Apple’s quarterly financials release a couple of weeks ago was no reason to celebrate, either. Revenues were just about flat while earnings fell almost 22% to $6.9 billion compared to the previous year.

Meanwhile, the market scratched its collective head, waiting for the company to release the kind of new, game-changing products that became almost commonplace during the life of its late CEO and co-founder, Steve Jobs. Where did the innovation go?

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