"It will be ludicrously expensive, so we'll call it Max XS"
"Everyone will want one"
At $1,099, the entry-level XS Max costs more than twice as much as the original iPhone
Apple's first-ever 512GB model will cost $1,449"
When we left off last week's trade war cliffhanger, Trump had indicated he was "ready to go" with new tariffs on China, but he hadn't pulled the trigger yet. After last Friday's close, Apple indicated their products would be significantly affected by the tariffs. Fast forward one week later, Apple has now released new even more expensive dumbphones, and Trump just pulled the trigger on tariffs...
Bombs away:
"The president told aides to go ahead with tariffs, the reports said, citing people familiar with the matter."
The U.S. and China have already put in place tariffs on $50 billion of each other's imports since July
Apple is following the script from last year, selling off after the new product announcement.
From a second lower high:
Mid-week saw a bounce in Chinese Tech stocks on rumours of trade war de-escalation.
That bounce is now ending...
This week saw a blow-off in junk Tech and cannabis stocks. Capping manic rallies that began back in early August:
Which means that the two largest stocks in the casino (Apple, Amazon) - representing two trillion in market cap - are now trading like a single brick:
Four Hindenburg Omens in a row on the Nasdaq have taken their toll on breadth and momentum:
CNBC (1:00): "Is this a real bull market or a fake bull market"
"It's a really fake bull market. Something for everyone"
"We've got them right where we want them. September, 2008"
The stages of gambler denial:
