Apple is not doing very well.
“We’re seeing extreme conditions unlike anything we have ever experienced before,” Cook said on a conference call discussing Apple’s earnings report. Those conditions show up in foreign-exchange rates. Cook pointed out that, for example, the Brazilian real is down more than 40%, and the Russian ruble is down more than 50%. “Especially during a period of economic uncertainty, we believe it is important to appreciate that a significant portion of Apple’s revenue recurs over time,” Cook added.
Right….and I am expected to believe that one of the largest corporations in the world, a company with a massive pile of cash on their balance sheet has failed to hedge their currency exposure?
The real story is, Apple is seeing structural slow down across most of their business lines at the same time the world economy is entering a severe recession.
What’s worse, should it break below $90 a share, and I will bet you my left kidney that it will in 2016, there is no saying where it will stop.
I have been harsh to Apple (AAPL) for over a year now. When the stock was hitting its all time high on May 19th, 2015 and most analyst were falling all over each other in predicting how soon Apple will reach $250 a share, I issued the following dire warning/report….
Smart Money Is Still Distributing Apple (AAPL) To Fools
And when worthless media shills were yapping about how great of a product Apple Watch is, I told you the truth…..that Apple’s innovative drive and future died with Steve Jobs.
Why Apple (AAPL) Watch Will Be A Disaster
I will refrain for the time being in telling you how low Apple’s (AAPL) stock can or will go. Simply understand that Apple’s best days are likely behind it and not ahead.
