AAPL and the iPhone

Jeff Nolan relates.

A friend, who shall remain anonymous, said to me today via IM:

    "I am assuming my Apple stock gain (recently) will pay for this (the iPhone)."

Of course, Apple stock has been sluggish this past week.  Is that just profit taking so that people can actually buy it?

Comments

[ShortWoman]

Nice theory about this week. Although I divested of AAPL at least 60 points ago, I have a theory regarding its asinine movement.

Step one: fanboys pile in, thinking [insert product here] is going to be insanely great.

Step two: enough fanboys (or maybe there's a fund manager who is also a fanboy) pile in to move the stock enough to bring it to the attention of the chartists and momentum guys, who propel it higher in a self-fulfilling prophecy.

Step three: rinse, repeat. The value boys have long since left the building, and nobody is stupid enough to short it.

For the record, I find it interesting that there were at least two iPhone political cartoons this morning.... Assuming that they can actually keep up with demand over the weekend (and since this is Apple I think flip a coin on that), by next weekend all the people who gotta have one will be done. Come on, can a device people jokingly call the Jesus Phone really be all that? I predict that 6 months from now, some fund manager's or analyst's wife will have the battery die (sorry, it's not a serious business phone regardless of hype) and they will realize that the battery can't be easily replaced. Then it's time to sit back and watch the roller coaster.

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