Yes, today was a brutal day. I can only imagine what would have happened if the earning were bad.
Where were the analysts? Now I suppose they will model for lower future earnings and then come out with downgrades after the damage is done.
I read the conference call and it was all pretty positive except a comment about potentially lower handset demand in the first half of the year. Still, the company didn't come out and say that earnings would tank.
This is a head scratcher.
Maybe it is time for the insiders to actually buy shares at market prices with non option related transactions to back up their statements about how wonderful everything is.
I can tell you that this was a gut punch to investors. Yes, the company buys back shares but all the equity based compensation causes the share count not to fall like one would expect.
We're basically back to where we were 4+ months ago despite all this "great news".