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.
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Fool contributor Tim Beyers still thinks Firefox is the best Mac browser. He didn't own shares in any of the companies mentioned in this article at the time of publication but hunts for the best of tech as a member of the Motley Fool Rule Breakers team. Try this market-beating service free for 30 days. Get access to all of Tim's Foolish writings here. The Motley Fool's disclosure policy doesn't get mad, it gets even.