Apple eBook Settlement Not Bothering Investors, Wall Street
On Thursday, MMW reported that Apple agreed to a $450 million settlement to resolve issues that the iDevice maker colluded with publishers to fix eBook prices.
So what was the impact on AAPL in response to this news? Perhaps a better question would be: What impact?
Indeed, Wall Street and investors all but looked the other way on news of the settlement. In fact, as SeekingAlpha puts it, the eBook settlement should be seen as a “catalyst to BUY not to SELL.”
Investors, they say, “should be focused on the long term earnings power not fear driven headlines.”
Helping Apple this week is the fact that the company announced the settlement in concert with promising news that Apple has partnered with IBM to secure a stronger footing in the enterprise arena.
All told, the $450 million settlement is pretty much a non-issue for Apple and investors.