Monday, September 29, 2008
APPL is doing what it has always done since its first stock offering. Sawtooth rising. Long periods of reliable price appreciation and brief moments of freefall. Repeat. Helped my parents finance some of my college by recognizing this from the Apple II days. What we are seeing is Apple missing the back to school season and the impending introduction of aggressively priced new Macbooks running into a year without a Christmas.
And that's the big news. This is the year without a Christmas. Container volumes in the Pacific ports are cratering. Circuit City is tettering and my long time bullseye Best Buy has got to be hiding something in their credit arm.
Blognote: TARP pt 2 later this morning. Vote discussion afternoon and pt 3 tonight.