Apple Computer (NASDAQ:AAPL) filed their 10-K/10-Q reports around 1 hr ago. Key takeaways:
- The investigation resulted in restatements as incorrect measurement dates were used to financial accounting purposes for certain option grants
- Steve Jobs was aware or recommended selection of some favorable grant dates
- He did not benefit from these grants
Notablecalls: I'm somewhat surprised to see AAPL stock trading up on the news. I think the investors that bought the stock over the past couple of days assumed Steve Jobs was NOT aware of any suspicious grants and most certainly did not recommend any. I suspect the move this morning is an attempt by some market participants to mark up the price on the last trading day of the yr, possibly to improve their performance.
- The investigation resulted in restatements as incorrect measurement dates were used to financial accounting purposes for certain option grants
- Steve Jobs was aware or recommended selection of some favorable grant dates
- He did not benefit from these grants
Notablecalls: I'm somewhat surprised to see AAPL stock trading up on the news. I think the investors that bought the stock over the past couple of days assumed Steve Jobs was NOT aware of any suspicious grants and most certainly did not recommend any. I suspect the move this morning is an attempt by some market participants to mark up the price on the last trading day of the yr, possibly to improve their performance.
4 comments:
Are you serious? The stock was hammered down over $10 on this concern. Now it is cleared up and at a much smaller number than people probably were expecting. If stock doesn't touch $86 today, I would be shocked.
I agree. It has been known since the summer that Jobs knew about the grants. Many funds are not allowed to buy stocks that haven't filed their 10q, so I assume much of the buying today is from them.
Legit points. Thanks.
Short AAPL.
Time to definitely short this move when all the retail guys hop on board at 85 today. The funds you speak of have been buying since the 60's when AAPL stock was falling earlier this year.
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