Feeds:
Posts
Comments

Posts Tagged ‘Apple’

On March 15, 2012, I wrote the article, Shades of Y2K — Gary North’s bogus Apple prediction, about Gary North’s bogus October 11, 2011 prediction that:

Apple’s relentless descent to earth is inevitable. I can prove it in 15 words.”

“There is no one to follow him. There will never be another Steve Jobs at Apple.

In my March 15, 2012 article, I had wrote:

The closing price on Apple shares the day before his article was $388.81 USD per share.

As of March 15, 2012, in anticipation of the new iPad 3, Apple shares traded at over $600 per share — a 54% increase in just five months since his bogus prediction.

Now, on January 26, 2015, what had been a bogus prediction is now an outrageously stupid prediction, with Apple shares having traded on the previous Friday at $112.98, with a 7-1 stock split value of $790.86, a 103% increase over its October 2011 value.

Yet, Gary North continues to get paid subscribers and continues to get published on LewRockwell.com, showing that it’s not about ability, but consistent writing and being connected.

Read Full Post »

Image representing Research In Motion as depic...

If the January 2012 departure of RIM’s founder, Mike Lazaridis, wasn’t enough of an indication that RIM was dead, RIM’s first quarter 2012 results announcement sealed it by yet again missing expectations, reporting a huge loss, and most importantly, announcing that Blackberry 10 would be delayed yet again — this time to Q1 of 2013.

The comments on thestar.com and theglobeandmail.com were overwhelmingly negative, saying that it’s over for RIM.

Once RIM revised their forecast just weeks after their rapid and massive decline began in March 2011, I reflected on what was a fatal flaw with their business model. Being smaller than Apple and Google, their whole advantage was that they were theoretically capable of being more nimble in innovating and getting new products to market. They are also highly centralized, with around half of their employees in Waterloo, which also served to their unused advantage.

Once it was announced that their PlayBook tablet — originally scheduled to be released before the iPad 2 — would be released a month after the iPad 2, that sealed its fate in that they had absolutely no hope of being a serious challenger in the tablet market. Apple already had a dominating position in the marketplace, and to be beaten to market by a second version of Apple’s highly successful tablet put the nail in the coffin of RIM’s PlayBook.

There was word in May that RIM would be laying off between 2000 to 6000 employees, when they were already in mortal danger. The fact that it took until June 28 for them to officially announce 5000 layoffs is a further indication of how out-of-touch RIM’s upper management is as to the gravity of the situation.

Previously, on September 18, 2011, I wrote the article, RIM as a metaphor for U.S. decline.

I find it a fitting parallel that on the day RIM made their catastrophic announcement, the U.S. Supreme Court found Obamacare constitutional, further strengthening my metaphor.

Read Full Post »

Gary north

It’s now 12 years, 2 months and 15 days after Gary North’s apocalyptic Y2K predictions failed to materialize, and not many days after that since he scrubbed all references to it from his website, GaryNorth.com.

Thankfully, there is archive.org, which shows his Chicken Little fear-mongering in all its glory.

On October 11, 2011, North took the opportunity of Steve Jobs’ untimely passing to spout off on how Apple’s fortunes were tied to that of Newton’s apple, and that both were inevitably going down.

The closing price on Apple shares the day before his article was $388.81 USD per share.

As of March 15, 2012, in anticipation of the new iPad 3, Apple shares traded at over $600 per share — a 54% increase in just five months since his bogus prediction.

Indeed, Apple stock will eventually go down from its Steve Jobs-era high. North didn’t put a date to his prediction, but such a huge increase in such a short time effectively shatters his prediction.

Less than two full months after his article, he wrote another one, saying:

I have always suspected it. Apple as a company is over-hyped. The company’s new iPad users’ support strategy proves it.

He then went on to complain about his customer experience, and admits:

Do I have a bad attitude? No doubt. But it is in response to what I regard as a customer-insulting company.

Yes, they are such a customer-insulting company, that consumers continue to turn out in droves for Apple’s smartphones and tablets, instead of RIM’s, whose market share has massively tanked.

For more on Gary North, see my articles:

1) Gary North runs for cover as his fool’s gold standard gets ever wider exposure

2) In claiming the Bible is anti-socialist, Gary North overlooks a blatant example of its socialism

3) Gary North’s free market gold standard is also a fool’s gold standard

4) Gary North praises Wal-Mart’s low prices despite some of it coming at the expense of taxpayers

5) Gary North: Spokesman for a major Federal Reserve bankster smokescreen

6) Cheerleader for bankster economics

7) Gary North admits gold was a bad investment from 1980-2001

8) Gary North claims gold coins produced by U.S. and Canada aren’t money, despite being legal tender

9) 21 years a medium-term investment? If you’re a gold bug, it is

Read Full Post »

Jim Cramer, former hedge fund manager and TV personality, blithely explains how the market is manipulated, including illegal activities, by telling us what he did and would do as a hedge fund manager.

Here are some of his most revealing statements (emphasis mine):

“You know, a lot of times when I was short at my hedge fund and I was positioned short, meaning I needed it down, I would create a level of activity beforehand that could drive the futures. It doesn’t take much money. Or if I were long and I would want to make things a little bit rosy, I would go in and take a bunch of stocks and make sure they’re higher and maybe commit $5 million in capital to do it and I could affect it. What you’re seeing now is probably a bigger market now. Maybe you need $10 million in capital to knock the stuff down, but it’s a fun game and it’s a lucrative game.

“I’m gonna boost the futures and then when the real sellers come in, the real market comes in, they’re going to knock it down, it’s going to create a negative view. That’s a strategy very worth doing when you’re valuing on a day-to-day basis. I would encourage anyone in the hedge fund game to do it, because it’s legal, it’s a very quick way to make money, and very satisfying. By the way, no one else in the world would ever admit that, but I couldn’t care. I’m not gonna say it on TV.

“When you get a Research In Motion, it’s really important to use a lot of your firepower to knock that down, because it’s the folcrum of the market today. So I mean, let’s say I were short. What I’d do is I’d hit a lot of guys with RIM. You can’t foment, you can’t create yourself, an impression that a stock’s down. But you do it anyway, because the SEC doesn’t understand it. That’s the only sense I would say it’s illegal.”

“When your company’s in a survival mode, it’s really important to defeat Research in Motion and get the Pisanis of the world and the people talking about it as if there’s something wrong with RIM. Then you would call The Journal and you get the bozo reporter on Research in Motion and you would feed that Palm’s got a killer that it’s going to give away. These are all the things you must do on a day like today, and if you’re not doing it, maybe you shouldn’t be in the game.”

“Apple’s very important to spread the rumor that both Verizon and AT&T have decided they don’t like the phone. That’s a very easy one to do. You also want to spread the rumor that it’s not going to be ready for Macworld. And this is very easy, because the people who write about Apple want that story. And you can claim that it’s credible because you spoke to someone at Apple, because Apple’s not going to issue a statement. It’s really an ideal short.”

“What’s important when you’re in that hedge fund mode is to not do anything remotely truthful, because the truth is so against your view, and it’s important to create a new truth to develop a fiction.

“The great thing about the market is it has absolutely nothing to do with the actual stocks.”

Read Full Post »

My email to someone who has hesitated in buying a Mac, because of the “Apple tax.”

Have you checked out the refurbished Mac offerings? You can typically save between 15-30%. I’ve bought my second refurbished Mac now, and have no complaints.

They have the same rigorous testing and one-year warranty that new Macs have, and I haven’t encountered any problems with them. I got lucky with my latest purchase, which was supposed to include 2 GB of RAM, but actually came with 4!

Most of the extra cost of a Mac are because they’re more solid, stable, easier to use, and have a lot longer battery life than similarly priced PCs.

Read Full Post »