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The Apple Store Economy Check

November 12th, 2008 · No Comments

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.

Tags: Financial

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