Taking a break from the four day QE3 bender, the market pulled back Monday amid fresh geopolitical worries following a precipitous drop in oil prices.
But we all know that worrying about political instability or a global economic crisis, is sooo last year. If you want to be one of the cool kids, then get with the crowd and buy the hype. If you’re not talking about Apple, then just please shut your pie hole. Today’s media excitement was all about the stock which was up over 1.1% to breach the magical $700 level just after the day session closed.
Here's the 'logic' (should that interject itself); pre-orders are around 2 million iPhone 5s at around $250 each - assuming a 50% margin means the company made $200 million in profit - and for that the market cap rose over $7 billion!We love AAPL math!
Trade well and follow the trend, not the so-called “experts.”
Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.