You call this an efficient market? Puh-leeze. A credit crunch sinks Lehman Brothers, Buffett buys preferred shares of General Electric
If that's efficiency at work, I'm the new right fielder for the New York Yankees.
Consider Apple; it's doing as well as it ever has. Computerworld reports that during September, Macs made up 8.2% of the computers that accessed the 40,000 sites monitored by researcher Net Applications. It's the first time Apple's operating system has grabbed at least 8% of that market.
But Apple's success is the bigger story, even if it isn't all that surprising. In July, a survey of 700 executives and corporate technology specialists found that eight in 10 businesses used Macs in some form. Better still, longtime users were relying on far more Macs than they had previously. Others were buying Macs to run Windows because of Apple's superior hardware design. Maybe that's why Net Applications says that Apple's share of the market has risen 58% over the past two years.
Apple's revenue growth is slowing? Maybe so. But it's anything other than efficient to sell a reasonably priced winner when it's still winning big.
Take a golden delicious bite of related Foolishness: