Will This Be the Day?
Today's Apple iPhone event may bring more than the introduction of its upgraded smart phone.
Don't expect anything dramatic (although don't rule that out either). Alibaba debuted with trumpets and huzzahs that lasted for months. Then reality set in. Not only did it become apparent that the market had turned down, but those who bought the IPO began to realize they held something whose value reminded one not of the next Apple, but rather of a common domestic creature that barks.
So today will likely pass without any but the fanfare that attends all Apple "events." But we'll be on the lookout for evidence of a top starting tomorrow. If the Apple event follows a similar pattern to the Alibaba IPO, the stock market will sink in time. And "time" is key here. One difference between the two events will likely be that, while it took months for the market top to stand out after Alibaba, it may take only weeks, if not days, for the same clarity to manifest itself after today's celebrations.
As for Apple, the company, that same Bert Dohmen has called for a top in its stock as well. While the company's products continue to stand out for their quality, if no longer their innovation, we may have seen the highs in Apple stock for a long time to come.
Apple Inc. is hosting its annual splash on Wednesday to unveil a new version of its most-important product, the iPhone. The company has also used the occasion to update customers, analysts and investors on its performance and other products—and this year will probably be no different.Even more than an update of the company, according to one of our trusted sources, this could be the last "update" of the rally from the stock market lows that have buffeted us these past weeks. That same source told us that the Alibaba IPO would bring a market top, and so it did. Now Bert Dohmen claims that today's Apple event may mark the last gasp of positive stock markets for a while.
Don't expect anything dramatic (although don't rule that out either). Alibaba debuted with trumpets and huzzahs that lasted for months. Then reality set in. Not only did it become apparent that the market had turned down, but those who bought the IPO began to realize they held something whose value reminded one not of the next Apple, but rather of a common domestic creature that barks.
So today will likely pass without any but the fanfare that attends all Apple "events." But we'll be on the lookout for evidence of a top starting tomorrow. If the Apple event follows a similar pattern to the Alibaba IPO, the stock market will sink in time. And "time" is key here. One difference between the two events will likely be that, while it took months for the market top to stand out after Alibaba, it may take only weeks, if not days, for the same clarity to manifest itself after today's celebrations.
As for Apple, the company, that same Bert Dohmen has called for a top in its stock as well. While the company's products continue to stand out for their quality, if no longer their innovation, we may have seen the highs in Apple stock for a long time to come.
Comments