Peter Lynch ran the highly successful Fidelity Magellan Fund from 1977 to 1990, one of his mantra’s was to buy stocks you know, e.g. Do you prefer a particular store in the mall when there is a choice? I have been using the Apple store at International Plaza as a guide on Apple and the economy. About six weeks ago I was in there and it was very,very busy (10:30am on a Saturday) all the sales help were busy looking after people. Last Saturday (also 10:30am ) I was in there and there was only about a quarter of the normal customers, lots of sales staff standing around talking. This was the least amount of customers I have ever seen in the store. Apple stock closed at 94.77 yesterday, I think its on its way lower unless a news event intervenes or the general market goes up (rising tide floats all boats principal). 1st support 91.50 then 88.75, my gut says its going below 80.
The Apple Store Economy Check
November 12th, 2008 · No Comments
Tags: Financial
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