Business media once again fall for

TheStreet.com media critic Marek Fuchs writes Wednesday about how business journalists have once again fallen for Apple Computer’s blatent low-balling of its earnings estimates.

Fuchs wrote, “This brings us to Tuesday afternoon’s guidance, termed ‘disappointing’ with no qualifiers by much of the business media. Granted, the Business Press Maven this time agrees with the concern because iPod sales have slowed, and the consumer is running into a buzz saw, which will affect his ability to buy funky gadgets.

“But considering Apple’s long history of downplaying future expectations, you’d figure the defining propensity should at least be mentioned, if not prominently, in articles about future guidance, right? You didn’t really ask that, did you?

“A few business journalists did — and we are going to point them out by name. And though The Business Press Maven rarely criticizes by name — my goal is to teach investors, not publicly flog journalists — this qualifies as such a glaring repeated mistake that I must, if only to forewarn investors who may read these journalists about Apple in the future.”

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