Trump is Responding to Biden's 'Abhorrent' Pardons
'Stain on the Presidency': Biden's Latest Commutations Aren't Going Over Well
Trump Campaign Operative Reveals the Most Effective Ad Against Kamala
The New York Giants Saw a Familiar Banner Fly Around the Meadowlands This...
NYPD Engulfed in a Sex Scandal Involving Internal Affairs Chief
BREAKING: Former President Bill Clinton Hospitalized With Fever
NYPD Arrest Illegal Immigrant Accused of Setting Female Subway Passenger on Fire
Alleged UnitedHealthcare CEO Shooter's Attorney Blasts NYC Mayor Over 'Perp Walk'
Donald Trump Is Having Second Thoughts About Speaker Mike Johnson
The Progressive Caucus Sure Put Out a Horrific Statement on Biden Commuting Those...
As CNN Continues to Whine About Elon Musk, Scott Jennings, Bill Hagerty Come...
Poll Shows Americans Are Feeling More 'Hopeful' Than They Were About 2025 Than...
Martha Raddatz's Downplaying of Tren de Aragua Comes Back to Haunt Her
Australia Just Approved an Extradition Request From the United States
Preview for 119th Congress: Chairman Comer Invites SSA Commissioner O'Malley to Testify on...
OPINION

Apple (AAPL) is Different This Time

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

The furor over Apple stock brings to mind two statements that resonate through history in the investor’s graveyard.

First, I have to have it!  Second, this time it’s different! 

Advertisement

Let’s travel back in time for a moment.  Centuries ago, Frenchmen were lining up in droves in order to buy shares in John Law’s Mississippi Company. 

After all, North America was the new world and the riches to be derived from precious metals, furs, and commodities were practically immeasurable. 

Ships with settlers were traveling to the region to develop the land and enrich themselves.  Therefore, how could it fail? 

Both investors and speculators just had to own shares, the frenzy was almost panic driven. 

As expectations became reality, however, the frenzy to sell became just as emotional.  Unfortunately, there was no one left to buy. 

The same can be said for the dot-com meltdown, the housing bubble, and many other must-haves. 

The dot-com collapse could be excused because the technology was a new subject to all of us. 

Just like the Mississippi expedition centuries ago, the excitement and riches of the internet were just as real and fraught with danger. 

Also in hindsight, one could have some empathy as to why housing seemed like the never-ending cash cow. 

After all, Ben Bernanke did say “home prices never go down.”  On a lesser scale, but just as emotional, was the Beanie Baby craze. 

Yes, cloth dolls filled with plastic beans represented just as much financial illusion as all the other must-haves. 

Advertisement

But Beanie Babies?  Really?  Don’t be so smug. 

The percentage gains taken on the bean filled characters made other gains look small in comparison. 

For example, as housing jumped 20% to 30% in months, the Beanie Babies increased by 200% to 300% in just days. 

Yet once again, reality set in and those who had to have them, in fact, still own them.  Sadly, at much lower prices. 

Let’s just say that garage sales are definitely awash with collectables of the past. 

Fast forward to the present-day and the almighty Apple, a company filled with new must-have gadgets to keep us all connected.  Apple, the company with stores filled with customers and black shirted staff to answer all our Apple questions and satisfy our every Apple need. 

Apple, the company that manufactures in China and sells worldwide.  At $600, $700, or even $1000/sh, it’s a stock that everyone must own! 

In other words, Apple, I have to have it because since it’s Apple, this time it’s different! 

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos