It’s the economy, stupid!
On September 11, 2008, djt posted the following:
All the intelligent economists seem to be saying the same thing: the American financial community is in really bad shape now and will be this way for some time going forward.
The two former treasury secretaries under Clinton: Summers and Ruben, were on The Charlie Rose Show last night, and they were quite clear in their assessment of the situation: There needs to be a proactive policy put in place… that unfortunately will be politically very unattractive especially during an election year. A new economic policy that raises capital needs to be put in place by Washington to handle the mess and address this for the future. In other words, bite the bullet and raise taxes at some point… after the election.
The stock market is obviously reacting to the economy… so I think Apple will remain in a trading range, and what we are seeing now is an adjustment to a lower trading range. The range was in the mid 170s just a couple of weeks ago. Now it’s in the 150s… today even lower.
Hate to sound pessimistic, but APPL’s stock price has no reason to go up right now. Plenty of reasons to go down more.
Apple’s October earnings report will probably be good which will prop up the price I would think. They are after all making a lot of money and expanding their market share… despite all the gloom and doom in the economy.
Makes me wonder what the stock price would have been if the economy was healthy.
techstock2000 @ September 11, 2008