The price of shares in this consumer-oriented company continues to soar.
Apple stock hit $275 on Friday and closed at to $273.61. For the year, the shares are up about 30 percent as the company sees strong demand for its new iPad tablet computer and strong sales expectations for iPhone 4.
As I have pointed out before, there are many reasons for the strength in Apple shares. however, it should not be ignored that Apple is a consumer goods as opposed to capital goods oriented business and that Austrian Business Cycle Theory teaches that a period of "downturn" in the business cycle, such as we are in now, is a period of re-adjustment of the economy toward consumption goods production.
Apple would be a huge success with out the wind in the sails of the business cycle at its back, but that they are there is helping the push a bit.
I generally agree with you, Robert, but would point out that increased access to cloud computing means that returns to using Windows-based applications is diminishing. I have used Apple much more for work this year than I ever have in the past, and if that is typical, then Apple's success may also reflect a readjustment in the means of capital formation as well.
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