When It Just Isn’t Worth The Cost
Stop the presses! And breathe… just breathe. Remember, it isn’t the end of the world and we will get through this.
No, I’m not talking about the bailout plan that Congress just vetoed. I’m referring to Apple (Nasdaq: AAPL) shares falling to a 16-month low. Do you see now why I had to advise you not to panic?
You might be saying right now that shares falling is anything but news at the moment. Every sector and most companies are struggling with the news that Wall Street won’t get that $700 billion infusion. They won’t even get a $150 billion infusion, or any other cut for that matter. In fact, as things stand right now, they’ve got nothing and will continue to get nothing more than what they worked for.
It’s easy to crow about that now of course. We’ll see if we continue to have the same attitude in the following days, weeks, months and years. Because like it or not, and regardless of whether he was correct in pushing Paulson’s plan, Bush was probably right and the economy probably will take a hit from this.
But putting that all aside and focusing on the important stuff…like Apple. Their stock has been in some trouble for the last month now, well before the masses ever heard the word “bailout.” Partially it comes down to worries about slowing global demand for high-tech toys, and another chunk of the blame can be put down to repeated surfacing issues with the launch of its 3G iPhone.
And Apple might continue to spiral downward for a little while. Not that it will likely flat-out fail, but Steve Jobs might feel the pinch for a bit none-the-less. Apple products are expensive, or at least more expensive than the less trendy options out there. And with the economy slowing - or according to August reports, coming to a standstill - people are going to start going for those cheaper options more and more. It might only be a couple hundred dollars difference, but you know what they say: a couple hundred here, a couple hundred there…it adds up.
http://www.smartprofitsreport.com/archives/2007/iphone-release-date471.html
Monday, September 29, 2008 — by Jeannette Di Louie, Assistant Editor of Mt. Vernon Research
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