I can only assume most readers see the picture clearly. However, a few have objected.
For the thorough treatment, see:
- Apple Selloff: About a Year Too SoonWall Street Analysts Are Screwing You On AppleApple Analysts Should Be Ashamed of Themselves This MorningApple: The Biggest Stock Market Tragedy of 2012
In these stories and others, I weave a straightforward narrative:
It's perfectly logical to express long-term AAPL concerns
-- I have been doing so since Steve Jobs passed away --
however, mindless emotion from analysts and the media is driving the recent bearishness and the stock's fascinating decline
I refuse to fall in line with the rest of the media, the analyst crowd and general market psyche and push a flawed story. I would rather end up wrong than blindly accept a sentiment in which I do not believe.
Every once in a while, the old Peter Lynch-style of investing sings. That doesn't mean you should run out and buy AAPL. That's a personal decision no one else can make for you.
In a perfect world, when (or should I say "if?") Apple crushes holiday-quarter earnings in January, this thing leaves its all-time high in the dust. Some sanity returns to an irrational and dysfunctional market. But the world's not perfect. And, for as "on point" as I think I am, I could still end up "right" and "wrong" at the same time. As in, Apple crushes it, but the stock does not respond.
So, take this for what it's worth: A logical and (I can't believe I'm saying this) contrarian (!) argument on Apple that, ultimately, sheds light on a bigger problem. That bigger problem being a market that can look at a clearly dominant company across several spaces, particularly retail, and pump long-term concerns prematurely, as iPads and iPhones fly off of shelves.
Anecdote adds up sometimes. It might not mean much to the market, but I think it will. Reality will win out over errant and clueless downgrades from firms such as Citi.
, I called for on-the-ground reports from Apple Stores and, man, the people responded.
Here are just a few shots snapped over the course of the last 24-48 hours. If you think this doesn't mean a thing, go head and take your chances. Put on an AAPL short and don't close it out for a profitable trade. Keep it alive through January.
That's probably not the best treatment to give your portfolio in the early days of 2013. But, at day's end, it's your call.
Apple Store, Eaton Centre, Toronto, Ontario, Canada
Apple Store, Santa Clara (near Silicon Valley), CA
Apple Store, Long Island, NY
Apple Store, Hong Kong
Google some other images of the Hong Kong store. Very cool-looking specimen. And some of the close-up shots you find online will help drive home just how crowded this particular store was when this picture was taken over the weekend.
Hanging around, drinking some coffee, but at least they're not yawning like the one guy somebody found at
--Written by Rocco Pendola in Santa Monica, Calif.
Rocco Pendola is
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