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July 23, 2020 | Apple’s Problems

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, an online service geared to traders of stocks, options, index futures and commodities. His detailed trading strategies have appeared since the early 1990s in Black Box Forecasts, a newsletter he founded that originally was geared to professional option traders. Barron’s once labeled him an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case. He received a $200,000 reward when a conviction resulted, and the story was retold on TV’s FBI: The Untold Story. His professional background includes 12 years as a market maker in the pits of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader.

AAPL fell hard Thursday, although it’s too early to tell whether this was just a garden-variety shakedown, or perhaps the start of a new bear market. There was news out that some state attorneys general were investigating the company for deceiving customers. But if such investigations ever had consequences or produced results, public floggings for FAANG executives would be grist for infotainment, and Mark Zuckerberg, along with his “don’t-be-evil” peers at Google, would be doing hard time. Could Trump’s hardening stance against China be responsible for the pummeling AAPL took?  Nearly all of the firm’s assembly work is done there, and the company has not exactly embraced the task of moving it elsewhere — presumably to places where business did not depend on kowtowing to double-dealing, lying, cheating, patent-filching commie scum.

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July 23rd, 2020

Posted In: Rick's Picks

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