Mon 29 Sep 2008
Apple shares pounded…along with my retirement account.
Posted by Jason T. under Apple, Off topic
[2] Comments
Sorry for the off-topic post, but I gotta complain today about Apple’s stock. Sure, sure, the world is going to hell and the market is down. But it seems like iPods are becoming an elastic good just like my cigarettes. So why, ohh why, did AAPL close down $22.98 today? That is apparently a “pounding” according to MarketWatch.
I mean, Apple’s not a bank. Apple doesn’t have bad home mortgages. Gah! The company is fundamentally strong, despite some recent issues with the 3G iPhone (which is still selling like crazy). It’s so frustrating owning this stock and watching it move in stupidly unpredictable ways and reacting to news that has nothing to do with the company. OK, so sure, an awful economy means less PC sales…but Apple’s one of the only tech players that is improving EVERY quarter for the last 6 years or something like that. I mean, srsly, lay off AAPL people…for my everyone’s sake. It’s a good thing my retirement is a long way off…
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September 29th, 2008 at 8:18 pm[...] Sorry for the off-topic post, but I gotta complain today about Apple ’s stock . Sure, sure, the world is going to hell and the market is down. But it seems like iPods are becoming an elastic good just like my cigarettes. So why, ohh why, …[Continue Reading] [...]
September 30th, 2008 at 9:32 pm
You got inelastic/elastic backwards. Inelastic goods are those which the change in price affects the quantity demanded to a smaller degree than would be expected. Generally, if the percent demand change divided by the percent price change is less than 1, a good is described as inelastic. Thereby, a 10 percent increase in cigarettes only results in a 2 percent demand decrease, the elasticisty is .2, thus cigarettes are an inelastic good.
Sorry to bust your balls, but it’s because I care.
Also, btw, AAPL is up 8% today.