Apple Sales and the Target Rate

Seeing news of falling sales for Apple inc. appeared to have been a major alarm for Apple investors, sending the stock price down today after-hours, yet what else would people expect? The economy is currently and utter mess, and many are much less likely to go out and drop 1200, 1400, 1600+ dollars on a new computer. Falling sales during this time period do not prove anything about Apple, other than that its sales are also subject to the ebbs and flows of the business cycle. Furthermore, many are alarmed that Steve Jobs will not be giving a keynote address at the next MacWorld conference, something which leads many to believe that Jobs is sick and unable to give such a presentation. I believe most people are overreacting and need to realize that all of this speculation about Jobs' health isn't confirmed at all, and that even without him Apple still has many other bright individuals who can lead the company in the right path.

On another note, the Fed cut it's target rate to the lowest it has ever been, with many saying that the Fed has run out of ammunition. This is probably true, yet eventually with such lax monetary policy the economy will get going again, especially if our friends at Obama and company can ensure the passage of a stimulus package at the beginning of his term.