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Post by aaplsauce on Dec 7, 2021 22:49:57 GMT -8
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Post by macster on Dec 7, 2021 22:59:10 GMT -8
For what it’s worth….it is believable considering how corrupt China is. I remember all the rumor of trouble Apple had doing business in China that just didn’t pan out. www.thestreet.com/technology/apples-tim-cook-signed-secret-275-billion-deal-with-chinaInside Tim Cook’s Secret $275 Billion Deal with Chinese Authorities Apple’s iPhone recently became the top-selling smartphone in China, its second-biggest market after the U.S., for the first time in six years. But the company owes much of that success to CEO Tim Cook, who laid the foundation years ago by secretly signing an agreement, estimated to be worth more than $275 billion, with Chinese officials promising Apple would do its part to develop China’s economy and technological prowess through investments, business deals and worker training. Cook forged the five-year agreement, which hasn’t been previously reported, during the first of a series of in-person visits he made to the country in 2016 to quash a sudden burst of regulatory actions against Apple’s business, according to internal Apple documents viewed by The Information. Before the meetings, Apple executives were scrambling to salvage the company’s relationship with Chinese officials, who believed the company wasn’t contributing enough to the local economy, the documents show. Amid the government crackdown and the bad publicity that accompanied it, iPhone sales plummeted.
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chinacat
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AAPL Long since 2006
Posts: 4,438
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Post by chinacat on Dec 8, 2021 5:52:36 GMT -8
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Post by artman1033 on Dec 8, 2021 6:04:46 GMT -8
AAPL ALL TIME HIGH!$175.95All Time Highest TODAY intraday 113,575,599 shares traded today Here is my quiz of the day: I Have a pile of $1,000,000 over here. HOW MANY PILES OF 1 MILLION DOLLARS WOULD EQUAL 1 TRILLION DOLLARS?
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Post by silkstone on Dec 8, 2021 6:19:26 GMT -8
A million ?
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Post by Lstream on Dec 8, 2021 7:51:56 GMT -8
For what it’s worth….it is believable considering how corrupt China is. I remember all the rumor of trouble Apple had doing business in China that just didn’t pan out. www.thestreet.com/technology/apples-tim-cook-signed-secret-275-billion-deal-with-chinaInside Tim Cook’s Secret $275 Billion Deal with Chinese Authorities Apple’s iPhone recently became the top-selling smartphone in China, its second-biggest market after the U.S., for the first time in six years. But the company owes much of that success to CEO Tim Cook, who laid the foundation years ago by secretly signing an agreement, estimated to be worth more than $275 billion, with Chinese officials promising Apple would do its part to develop China’s economy and technological prowess through investments, business deals and worker training. Cook forged the five-year agreement, which hasn’t been previously reported, during the first of a series of in-person visits he made to the country in 2016 to quash a sudden burst of regulatory actions against Apple’s business, according to internal Apple documents viewed by The Information. Before the meetings, Apple executives were scrambling to salvage the company’s relationship with Chinese officials, who believed the company wasn’t contributing enough to the local economy, the documents show. Amid the government crackdown and the bad publicity that accompanied it, iPhone sales plummeted. Everyone needs to decide if they want to remain an Apple shareholder, given that they do business in China. What is abundantly clear is that the Apple of today could not exist without a China relationship. There is no where else capable of building the volumes Apple needs. Or in a lot of cases, at the price points they need. Not to mention a massive market that they would forfeit if they walked away. It would make the likes of Samsung and Chinese knockoff companies really happy if Apple decided not to do business there. And a whole bunch of Apple shareholders upset with returns that would assuredly be much lower if Cook had ever made that choice.
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JDSoCal
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Aspiring oligarch
Posts: 4,241
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Post by JDSoCal on Dec 8, 2021 7:52:45 GMT -8
Anyone have any links to all the experts on CNBC who screamed like the town crier, "OMG ONE TRILLION MARKET CAP LAW OF LARGE NUMBERZ!"?
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Post by Lstream on Dec 8, 2021 7:58:12 GMT -8
Anyone have any links to all the experts on CNBC who screamed like the town crier, "OMG ONE TRILLION MARKET CAP LAW OF LARGE NUMBERZ!"? Today’s journalism is a competence and integrity-free zone.
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JDSoCal
Member
Aspiring oligarch
Posts: 4,241
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Post by JDSoCal on Dec 8, 2021 7:59:05 GMT -8
Everyone needs to decide if they want to remain an Apple shareholder, given that they do business in China. What is abundantly clear is that the Apple of today could not exist without a China relationship. There is no where else capable of building the volumes Apple needs. Or in a lot of cases, at the price points they need. Not to mention a massive market that they would forfeit if they walked away. It would make the likes of Samsung and Chinese knockoff companies really happy if Apple decided not to do business there. And a whole bunch of Apple shareholders upset with returns that would assuredly be much lower if Cook had ever made that choice. This is so silly. We all remember Tim Cook making trips to China. What, you all thought he just talked unicorns and rainbows with them? 🦄🌈 Decades of US jobs and wealth being transferred to china: Yawns US Apple stockholders (including every pension fund) getting some of that wealth back: "OMG, I'm shocked - shocked - that China wanted a cut before opening its market to a US company" I'm just surprised PRC didn't ask for a percentage of sales.
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Post by silkstone on Dec 8, 2021 9:05:37 GMT -8
Apple: 174.52+3.34 (+1.95%) As of 12:04PM EST. Market open
hand over fist 🤚 👊
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chinacat
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AAPL Long since 2006
Posts: 4,438
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Post by chinacat on Dec 8, 2021 9:28:07 GMT -8
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JDSoCal
Member
Aspiring oligarch
Posts: 4,241
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Post by JDSoCal on Dec 8, 2021 9:44:07 GMT -8
Sheet, I've still got an iPhone 8 because I'm not ready to give up my touch ID. And get off my lawn you whippersnappers!
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Post by macster on Dec 8, 2021 10:14:36 GMT -8
For what it’s worth….it is believable considering how corrupt China is. I remember all the rumor of trouble Apple had doing business in China that just didn’t pan out. www.thestreet.com/technology/apples-tim-cook-signed-secret-275-billion-deal-with-chinaInside Tim Cook’s Secret $275 Billion Deal with Chinese Authorities Apple’s iPhone recently became the top-selling smartphone in China, its second-biggest market after the U.S., for the first time in six years. But the company owes much of that success to CEO Tim Cook, who laid the foundation years ago by secretly signing an agreement, estimated to be worth more than $275 billion, with Chinese officials promising Apple would do its part to develop China’s economy and technological prowess through investments, business deals and worker training. Cook forged the five-year agreement, which hasn’t been previously reported, during the first of a series of in-person visits he made to the country in 2016 to quash a sudden burst of regulatory actions against Apple’s business, according to internal Apple documents viewed by The Information. Before the meetings, Apple executives were scrambling to salvage the company’s relationship with Chinese officials, who believed the company wasn’t contributing enough to the local economy, the documents show. Amid the government crackdown and the bad publicity that accompanied it, iPhone sales plummeted. Everyone needs to decide if they want to remain an Apple shareholder, given that they do business in China. What is abundantly clear is that the Apple of today could not exist without a China relationship. There is no where else capable of building the volumes Apple needs. Or in a lot of cases, at the price points they need. Not to mention a massive market that they would forfeit if they walked away. It would make the likes of Samsung and Chinese knockoff companies really happy if Apple decided not to do business there. And a whole bunch of Apple shareholders upset with returns that would assuredly be much lower if Cook had ever made that choice. Its all understandable lstream, you didn’t need to play the great wise one. But… Embezzlement? Kickbacks? There’s another word but can’t think of it at the moment. You can do business here but you need to do more than pay taxes, good salaries and a good wage. We want your technology and billions of stockholder dollars too. Its called leverage when they can bribe US companies. Doing business in China has it rewards though. We all hope China doesn’t get any more belligerent. What will happen after this 5 year agreement. Hopefully nothing concerning. Edit…ahha it’s Blackmail, the word I was searching for. It will still be awhile before diversifies enough manufacturing elsewhere in Asia.
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Post by artman1033 on Dec 8, 2021 10:20:46 GMT -8
TWIT has this covered this week:
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JDSoCal
Member
Aspiring oligarch
Posts: 4,241
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Post by JDSoCal on Dec 8, 2021 10:58:44 GMT -8
Embezzlement? Kickbacks? There’s another word but can’t think of it at the moment. You can do business here but you need to do more than pay taxes, good salaries and a good wage. We want your technology and billions of stockholder dollars too. Its called leverage when they can bribe US companies. Doing business in China has it rewards though. We all hope China doesn’t get any more belligerent. What will happen after this 5 year agreement. Hopefully nothing concerning. Edit…ahha it’s Blackmail, the word I was searching for. It will still be awhile before diversifies enough manufacturing elsewhere in Asia. Tim didn't go to China without counsel. He knows how to steer clear of the FCPA. There's a line somewhere between "bribe" and "we want our cut if you want to get into this market". Hard for the US feds to complain when they and states and even US cities do the same with investment incentives. Look at the funding of every NFL stadium.
I like Leo Laporte on the radio when I'm driving around on weekends. But he is weirdly pro-Android and Google. He never mentions the privacy issue that is the elephant in the room.
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Post by Lstream on Dec 8, 2021 11:05:01 GMT -8
@jd - exactly! Good post.
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Post by Lstream on Dec 8, 2021 11:07:02 GMT -8
No need to get all snitty and personal about it. Block me if you have a problem with what I post.
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Post by benoir on Dec 8, 2021 11:13:56 GMT -8
@jd - exactly! Good post. Same Was going to mention Brasil and India. Didn’t they ask for manufacture investment in order to enter their markets? And then there’s any nation who has taken action against Apple. Russia, EU, Australia et al. Cupertino wanted free wifi ffs!
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Post by Lstream on Dec 8, 2021 11:26:09 GMT -8
Brazil is absolutely brutal. They erect insane duties and taxes on foreign products that can double or even triple the price. All in the futile name of protecting domestic companies.
Then there are industrial offsets, especially in defense. All kinds of countries play that game. For example, if Lockheed sells $10B of fighter jets to Canada, then they must commit to $10B of procurement or investment in Canada. This tit for tat stuff is all over the place.
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Post by hrace on Dec 8, 2021 11:34:25 GMT -8
Finally ordered a shiny new 16” MBP with an M1 Max chip! It’s replacing an aging 2013 MPB 15” that can no longer receive software updates (new OS anyway). Can’t wait. Need to keep all the apple products talking to each other smoothly also and they can get picky when they are 8 years old. I’m still impressed that the old MBP functions as well as it does. This post isn’t so “stock” related but it’s another sale for apple at least.
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Post by Lstream on Dec 8, 2021 11:41:16 GMT -8
Finally ordered a shiny new 16” MBP with an M1 Max chip! It’s replacing an aging 2013 MPB 15” that can no longer receive software updates (new OS anyway). Can’t wait. Need to keep all the apple products talking to each other smoothly also and they can get picky when they are 8 years old. I’m still impressed that the old MBP functions as well as it does. This post isn’t so “stock” related but it’s another sale for apple at least. That is an insane step-up. I have the 14” Pro version. You will love it.
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Post by Lstream on Dec 8, 2021 12:24:53 GMT -8
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Post by duckpins on Dec 8, 2021 12:31:21 GMT -8
Sheet, I've still got an iPhone 8 because I'm not ready to give up my touch ID. And get off my lawn you whippersnappers! Interesting, touch never worked for me but the face recognition did. Siri said I looked like Garrison Keillor!
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Post by nwjade on Dec 8, 2021 12:37:39 GMT -8
Anyone have any links to all the experts on CNBC who screamed like the town crier, "OMG ONE TRILLION MARKET CAP LAW OF LARGE NUMBERZ!"? I posted the below back on January 22, 2021. aapl was trading then at split adjusted $34.75 and had dropped to a ~market cap of 700B a ~market cap drop of 30% from when it crossed 1T on August 2, 2018 and shrewd panelists on CNBC weren't touching aapl... and we're now up 5X from there.
So here we are finally back at $139.07 essentially the close on 01/03/19... Oh wait, that was pre 4:1 split and we're up 4X since then, never mind I remember vividly CNBC panels of numbnuts debating the sh*t out of whether aapl was a buy at $140-$150 back in that time frame, unreal. So here we are two years later sitting at an ATH of $139.07 with a RSI of 65.72. Trailing PE at 42.40 is high but knock on wood, excellent Q1 earnings will reel that in and the aapl party will continue on into Q2. I'm really enjoying the moment! Cheers to the longs!!!
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4aapl
Moderator
Posts: 3,867
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Post by 4aapl on Dec 8, 2021 13:14:04 GMT -8
Nice move today.
Thanks Apple, and AAPL
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Post by macster on Dec 8, 2021 13:26:18 GMT -8
Embezzlement? Kickbacks? There’s another word but can’t think of it at the moment. You can do business here but you need to do more than pay taxes, good salaries and a good wage. We want your technology and billions of stockholder dollars too. Its called leverage when they can bribe US companies. Doing business in China has it rewards though. We all hope China doesn’t get any more belligerent. What will happen after this 5 year agreement. Hopefully nothing concerning. Edit…ahha it’s Blackmail, the word I was searching for. It will still be awhile before diversifies enough manufacturing elsewhere in Asia. Tim didn't go to China without counsel. He knows how to steer clear of the FCPA. There's a line somewhere between "bribe" and "we want our cut if you want to get into this market". Hard for the US feds to complain when they and states and even US cities do the same with investment incentives. Look at the funding of every NFL stadium.
Yes I understand but the incentives here are backward. To manufacture in China Apple pay’s China elements incentives for the rights to do business not China coercing a corporation with incentives to do business. Would be odd if a State here would require Billions from a foreign corporation to do business. I’m sure you understand that too. So so what, we holders of stock reap benefits, why complain but it’s a moral issue. Cook should be complemented for the card game he’s playing bluffing a way out with China, though China may still have an upper hand to play.
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Post by macster on Dec 8, 2021 13:36:34 GMT -8
No need to get all snitty and personal about it. Block me if you have a problem with what I post. At least we aren’t talking cars on this fab week of gains. Lol I don’t have any issues with your post and I was thinking the same as you about my snitty and seemingly personal post as I was thinking of removing it but it was too late. So naturally I apologize, sorry I screwed up.
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Post by socal Film Composer on Dec 8, 2021 15:06:40 GMT -8
congrats longs!
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JDSoCal
Member
Aspiring oligarch
Posts: 4,241
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Post by JDSoCal on Dec 8, 2021 15:16:47 GMT -8
Tim didn't go to China without counsel. He knows how to steer clear of the FCPA. There's a line somewhere between "bribe" and "we want our cut if you want to get into this market". Hard for the US feds to complain when they and states and even US cities do the same with investment incentives. Look at the funding of every NFL stadium.
Yes I understand but the incentives here are backward. To manufacture in China Apple pay’s China elements incentives for the rights to do business not China coercing a corporation with incentives to do business. Would be odd if a State here would require Billions from a foreign corporation to do business. I’m sure you understand that too. So so what, we holders of stock reap benefits, why complain but it’s a moral issue. Cook should be complemented for the card game he’s playing bluffing a way out with China, though China may still have an upper hand to play. Well, it's obviously not illegal, since Tim vetted it all with counsel. I don't get the moral issue (I am of the school that legal = moral. You don't like something, change the law or GTFO. Not a fan of this "corporate responsibility" nonsense as a general rule). PRC is what it is. You want a billion customers, you gotta pay the man. I'll take PRC's fascism over their old communism all week and twice on Sunday. I really don't get the "Apple sold out" line (many have said this on social media). We've already shipped millions of US jobs to China and spent trillions of USD on their cheap crap products (Gah, such crap!!). With this Apple deal, Americans (net) *extract* wealth from China and bring it home to stockholders, including vastly underfunded pension funds. I think the junk has sailed on the moral case of doing business with China ever since Nixon started his engagement. I'd love to hear the case how you get PRC to just open their markets to compete with state-run corporations on good faith and a charming pitch by Tim. Frankly, I was always surprised why the hell PRC did it. This now all makes sense.
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Post by Lstream on Dec 8, 2021 15:27:59 GMT -8
No need to get all snitty and personal about it. Block me if you have a problem with what I post. At least we aren’t talking cars on this fab week of gains. Lol I don’t have any issues with your post and I was thinking the same as you about my snitty and seemingly personal post as I was thinking of removing it but it was too late. So naturally I apologize, sorry I screwed up. All good. Thanks
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