Apple’s Simplicity Shows Confidence

John Robertson

PortfolioDirect

The elegant simplicity of the iPad is exemplified in the Apple Inc quarterly earnings report. The commentary accompanying the required balance sheet and income and cash flow statements for the March quarter (including guidance for the next quarter) was done with just 252 words. The legal disclaimer amounted to 410 words. The commentary barely exceeded the livewire word limit! There is surely a lesson here for companies. Apple was prepared to let its result stand on its merits. There was no need to explain away special factors or reconstruct earnings to offer a different perspective than what was evident in the statutory accounts. Big numbers and evident growth conveyed their own message. Long, wordy explanations might be a sign of defensiveness, undue complexity or executive insecurity.


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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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