Hindsight is blind
What’s more, Apple’s retail thrust could be one step forward, two steps back in terms of getting Macs in front of customers. Since most Mac fans already know where to buy, much of the sales from Apple’s stores could come out of the hides of existing Mac dealers. That would bring its already damaged relations with partners to new lows.
So on charitable growth assumptions, Google’s value (not including proceeds from stock issuance invested in cash and marketable securities) would be roughly $24 a share if it were priced to deliver long-term returns of even 10% to investors…In any event, 24 bucks is somewhat less than 108.
