In fact, the downgrade seemed somewhat significant at first, as Apple dipped below its 50-day simple moving average. It's generally considered bearish when a stock closes below its 50-day, possibly signaling that it has lost momentum. Shares however, closed above that mark.
Before we look at the price action, let's consider for a minute the actual downgrade. The rating agency, Standpoint Research, downgraded shares of Apple to sell from hold, citing moral reasons as their justification.
Since when the hell did morals contribute to the bottom-line, effect margins, or really change anything?
Now, you could point the finger at unsympathetic, not-give-a-damn me. Accusing, without even knowing me, that I could care less regarding the well-being of other human beings. (This truly, is not the case).
Or you could step back for a second, and consider that "morals" were the reasoning behind a stock downgrade of all things. Here is an excerpt from the research note:
"For Apple Computers to pay their workers $2 an hour while they have $150 billion in the bank is nothing short of obscene. They have workers who are doing back-breaking and eye-burning work in depressed states of mind and in many instances have already committed suicide. Instead of treating their employees like human beings, they are treated like animals. If it were not for their employees, Apple would not be where it is today. But instead of giving these people a better life, they give these people the bare minimum and defend this action with the argument that the wage is higher than the average there and in-line with what their competitors are paying."
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