If one wanted a true “picture” as they say in Silicon Valley of just how “different this time” it is for the once most beloved stock in the world. Here is something I believe is currently keeping Mr. Cook up at night. To wit:
There are two things of note to the above side-by-side. The first is when it comes to all the nascent calls of “The bottom is in Buy, Buy, Buy!”
This most recent “historic” bounce off the lows is not as spectacular when put into context of where we were just 3 months ago when the same “buy, buy, buy” hawkers were touting such a sell off was all but impossible, let alone improbable.
With that said, what is even more instructive is when it comes to this bounce the once “most valuable company” whose CEO decided it it was they that controlled the narrative, not Wall Street, has not only not partaken in-kind in this rally, but has barely budged off its lows.
Again, because it’s a very important point, not only is the stock lagging in this most recent BTFD (buy the f’n dip) mania. But rather – it seems it’s fallen and it can’t get up even with a near face-ripping-rally going on in the back drop.
Remember when it used to be said (like just a few months ago by the same “buy, buy, buy” hawkers) that “as goes Apple™ so goes the market?”
Let me just say to that, they had better hope it is – different this time. For if Apple is still the directional leader?
Need I say more?
© 2019 Mark St.Cyr