Time to short Apple?
It was reported that Apple market capitalisation was equal to that of top 32 European banks. Now,with the departure of Steve jobs as CEO,are Apple heydays over?
Although European banks will need a dose of new capital to offset their losses due to holdings of European government bonds/securities, their problems will be solved one day once european goverments get their act together.
However, Apple losing their genius CEO may not come up with another world-beating product. They may waste their cash on bad purchases in the future once Steve Jobs is gone.
Entry filed under: Watch your step.