Wall Street Largely Ignores Apple's $450M Settlement
As MMi reported
Wednesday, Apple has agreed to pay $450 million in a settlement that will resolve allegations that the Cupertino, California-based tech giant conspired with five leading publishers to fix the prices of eBooks.
Although this is no small chunk of change, to be sure, it doesn't appear that Apple's financial slap on the wrist is rattling any cages on Wall Street. In fact, it appears to be a non-incident altogether, which isn't a huge shock considering the almost unfathomable gobs of cash Apple is sitting on today.
According to a report Thursday from SeekingAlpha, the eBook settlement should be viewed by investors as a "catalyst to BUY not to SELL." Investors, the report reads, "should be focused on the long term earnings power not fear driven headlines."
Shrewdly, Apple timed news of the settlement with news of its new partnership with IBM -- a deal that puts Apple front and center in the enterprise space. So while the loss of $450 is still very real, Apple will make it back and then some in no time at all.