Samsung shares tumbled almost 4% on Friday as the company pre-announced record second-quarter earnings that still missed analysts’ sky-high consensus.
It’s true that I don’t like Samsung’s blatant copying of Apple products, but I really do hate Wall St. too. It’s wrong for any company to see their stock tumble because analysts were wrong in their forecasts. It’s happened to Apple when they reported record profits and now Samsung. Analysts should be downgraded, not the companies delivering record profits.