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Recurring Nightmare.
Thursday was not a great session on Wall Street.
U.S. stocks were bludgeoned as the combination of Apple's guidance cut (and, more to the point, what that guidance cut said about the outlook for global growth) and a truly horrific ISM print made for a potent one-two punch that, by the closing bell, knocked the Nasdaq lower by 3%.
It looks to me like the Nasdaq has fallen ~3% or more on 7 separate occasions since things started to get messy in October.
(Bloomberg)
Apple was obviously crushe
Lets see AAPL having a hard time selling $1,000 phones for little compelling reason to “upgrade”? Trump takes his base for granted AAPL takes their base for granted. The one trick pony needs to find more tricks.
The historical pattern is that when things become commodities (tee vee, toasters etc.) that they can only become a part of an income stream. Just like digital storage, when everyone can make it for less, then more and more for less the chin music stops. Other than cachet, what does Apple offer over Android? Yes, yes a more integrated (read cool) way to sell shit. It will not be long before China has no need of Apple. Technology is the great equalizer. Sam Colt built one of those and shortly so did everyone else.