Well, even if you don’t understand how the stock market works, you will definitely understand one of the reasons it is now tanking. In three months, Apple has lost $452 billion in market value, including tens of billions today. If you have shares in Apple, you are not a very happy camper.
To fully understand the magnitude of the loss here are some comparisons: $452 billion is more than double the size of Wells Fargo, more than three times the size of McDonald’s and more than five times the size of Costco. Dats a lotta money.
The question is why did this happen. Blanche, you can bet your bippy that the answer is not a simple one, so here are a few headline reasons:
…A weakening Chinese economy combined with improved smartphone product quality, i.e. higher quality components and assembly leading to longer useful lives. Imagine – phones work better so Apple takes a dive.
…Analysis of shipment data suggests that for the broader China smartphone market, replacement cycles have lengthened materially in the past two years and people are taking advantage of cheaper battery upgrades.
While it is too soon to say whether the iPhone growth story is dead, Apple’s decisions over the next few months, particularly around the design and pricing of the next iPhone, will be crucial as the company tries to bounce back.
December marked one year since the murders of billionaires Barry and Honey Sherman, who were found dead in their North Toronto Mansion on Dec. 15, 2017. There is been little if any movement in the investigation, which Toronto police originally bungled, saying way too quickly that it was a double suicide.
Trump tweeted out the most hysterical meme about Elizabeth Warren (1/10024th Cherokee). His tweet: Warren 1/2020th. Got that? We’ll spell it out: 1/2020th president in 2020. She almost shook her claim of Native American ancestry until she took Trump’s bait and did a DNA test revealing said 1/20024th Native American. Alas, her skin is rather thin…and very white. Hehehehehe.
Bernie Sanders, aka Zaidy Bernie, looks like his run for the 2020 presidential election may end before it even gets off the ground.
Not that he did anything. It was those working on his 2016 campaign who are now facing allegations of sexual harassment. Sanders apologised to any woman who felt she was not treated properly. While very chivalrous, it is not going to hold water in the new #metoo era.
In these times, women want nothing less than outing those who could not keep their hands to themselves, who would not promote them unless they did ‘whatever’ or were paid way less than their male counterparts. It’s a different world Bernie, where those in power do not have free rein to do whatever they feel like, whenever they feel like it.
Facebook is another company that’s dropping like a stone. Not one share was sold in the last three months of 2018. The reasons for Facebook’s fall are much more sinister than Apple’s.
A December 2018 New York Times exposé revealed that Facebook secretly let Netflix and Spotify read your private messages. Got that Blanche? Someone in Neflix or Spotify knew that you were bringing meatballs and kugel to your grandmother’s house for supper.
The private partnerships were exposed through leaked Facebook files that highlight the company’s ongoing failure to protect user’s privacy.
This leak also revealed that Facebook had given user data to Yandex – Russia’s equivalent to Google – despite the company’s alleged “direct line” to Kremlin spies. Pretty disgusting.
Good Shabbos We’ll talk…