|A sign of things to come? Surely not ...|
While the two sets of expert analyses are different, as are the circumstances of the two tech giants, there is one thing about yesterday's news that is the same for each of them: assessment of a company's value has been placed on something as short-term as the most recent sales figures and none of the news items on the popular websites makes any reference whatever to the sets of patent portfolios, the markets in which those patents generate income or will do so, their likely duration and the extent to which their value is enhanced or leveraged by their use in conjunction with their own and third party trade marks.
Anyone who has read Economics Nobel Prize-winner Daniel Kahneman's Thinking, Fast and Slow and who has absorbed his powerfully-made points about statistics, regression to the mean and the deficiencies of expert reasoning would be forgiven for thinking that the mass sell-off of Apple shares in response to a one-off dip in sales was a loser's strategy. And if it's logical to sell a successful, intangible asset-rich company's shares when a sales dip is announced, the decision to sell Microsoft shares when expectations are exceeded is even more baffling.
Fortunately, in the real world we can come back to Apple and Microsoft in the future and measure yesterday's sell-off values against the companies' future performance. Then we will have some solid evidence as to whether the sale decisions were right or wrong.