Analysts’ Forecasts Hurt Working Class
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Everything you need to know about the gradual destruction of the middle class can be read in “Apple Profit Up but Shares Decline” (Oct. 12).
Apple manages to quadruple fourth-quarter profit in one year, but analysts punish it for not meeting their predictions of profit. Accordingly, the stock drops 10%.
This relentless push by analysts to see 5%-to-8% sales growth in every quarter has resulted in the mass layoffs of American workers and the move to cheaper overseas labor while doing little to strengthen those American companies.
Is it possible that getting rid of the analysts might save the American working class? Certainly worth a try.
David Higgins
Los Angeles
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