Apple announced earlier this week that its ‘initial quantities’ of the new iPhone 7 had already sold out. Of course, it also announced a new policy in which it would not would disclose the first weekend sales volume of the new iPhone. Nothing like using opacity to boost the use of propaganda.
On the news that the new phone had ‘sold out,’ Apple’s stock went parabolic, running up 13.5% in four trading sessions. Coincidentally, or not coincidentally, AAPL’s price surge this week helped the Fed prop up the S&P 500 and Dow. By the way, AAPL’s revenues are now declining every quarter.
This post was published at Investment Research Dynamics on September 16, 2016.
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