Steve Jobs Reads Too Many Apple Press Releases

During an interview last night with the New York Times, Steve Jobs provided a particularly nonsensical comment on the company’s lower-than-expected iPod sales:

“People come up with all sorts of numbers, but I think 8.5 million of anything is pretty great.”

Yeah, to use Steve’s own words, Insanely great, with the emphasis on “insane”. Because bragging about selling 8.5 million of anything is meaningless without a context, like what people expected, what happened last quarter, and so on. Blowing smoke at reporters about large unit volumes, rather than simply answering the question, seems like the action of a CEO who spends too much time curled up in bed reading his own press releases.


  1. Steve Jobs the genius. Well, sort of. I guess he wasn’t too genius when he failed to license his OS and instead has a measley software business and Microsoft a $40 billion company with Gates extracting $100 billion in personal wealth.
    I respect Jobs as a perfectionist. Their products are tremendous and the designs set standards. I wouldn’t call him a visionary. To do so would mean he hasn’t made mistake after mistake. But, it’s nice to have a healthy ego as long as there is a healthy paranoia to go with it.
    The Apple trend will likely soon be over. The chance that a measley small hardware player selling a still very crude music player will be able to corner the digital content explosion is mighty slim. Songs, ah, so far. The wave of digital content from a cumulative audience of companies sporting hundreds of billions or trillions in revenue……….NOT!
    I would already say he is falling behind as we speak by not innovating more rapidly. And, by that, I don’t mean a new click wheel. Plus, we have a few new bold players in the content game that are no longer willing to be door mats. The content highway providers. They’ve consolidated, taken excess capacity off of the table and eaten their competitors and they are tired of being run over.
    Apple, has some serious navigation ahead. Next stop for the stock is $35-38.

  2. I found something similar happening on Yahoo’s conf call. Terry Semel rattled off a bunch of large numbers related to Yahoo’s subscribers.
    Not sure whether they mean anything as Yahoo’s margins and free-cash flow seem stagnant.
    But it did remind me of a CEO listening to his own echo a bit too much.

  3. More than anything I’m amazed at the action in the stock today. Up? Huh? I like it as a short but I stay away from these faddish stocks. The iPod and Mac numbers blew if you are going to go around sporting a multiple like Apple’s on your chest you had better be sprouting up more quickly than that. I bet there are a lot of shorts scratching their heads today.