by Dave Kranzler, Investment Research Dynamics:
Apple announced earlier this week that its “initial quantities” of the new iPhone 7+ had already sold out. Of course, it also announced a new policy in which it would not would disclose the first weekend sales volume of the new iPhone. Nothing like using opacity to boost the use of propaganda.
On the news that the new phone had “sold out,” Apple’s stock went parabolic, running up 13.5% in four trading sessions. Coincidentally, or not coincidentally, AAPL’s price surge this week helped the Fed prop up the S&P 500 and Dow. By the way, AAPL’s revenues are now declining every quarter.
But it appears that the iPhone’s first day in stores is a complete dud. Perhaps the most entertaining anecdote was the post on Zerohedge with several twitter posts showing no lines whatsoever outside of several mobile phone shops around New York City: Sold Out? USA Today wrote an article which contrasts the move in AAPL with the apparent lack of demand for the new product: Apple Shares On Fire; iPhone Lined Decidedly Chill.
A colleague of mine told me this morning that he received an email from Apple informing him that if he trades in his old iPhone he can buy a new IPhone 7 for $249. The retail list price $699.
Companies do not sell a product with a list-price of $700 for $250 if there is high demand for that product or if that product is sold-out.
Apple has transformed from the country’s most respected corporation into the same bag of lies, propaganda and fraud that has enveloped the entire financial, political and economic system.
Sure, Tim (Apple CEO), your new iPhone is sold-out just like Hillary Clinton is perfectly fit to run for President…
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