Apple Quite loud, actually

Apple’s stock has entered momentum never-never land with its latest results. The consumer electronic group’s net income for the quarter was 70% higher than what the company had predicted in January. It was 40% higher than analysts’ predictions. And Apple raised its estimates for next quarter’s earnings. Yet the group’s stock fell. For an explanation, look no further than the reappearance of the most irritating of boom-time excesses, whisper numbers. In a stock so dominated by momentum investors...