OT - Apple
I'm beginning to wonder whether Apple becomes a more compelling
value at this price - near its 2 year lows. Their China sales
dropped 26%. But they just announced a $1 bln investment in Didi,
and a partnership with that company - a 'ride hailing' app to rival
Uber. So, obviously, it's looking for other ways to exploit the
Chinese market. And I think the Didi deal is also following the
'protocol' of putting significant $ and partnership deals as a way
to align with the Chinese government/monetary power, and be a
partner rather than a 'foreign target' that gets villified. Almost,
but not quite a 'bribe' I think.
The $1 bln is not a big deal for Apple - they've got about $233
bln in cash, and acquiring footprints in foreign lands is likely a
better business proposition than repatriating it.
I've heard differing opinions on Apple - from it's a 'value
trap', to this is a great buying opp. Probably watching too much of
Nightly Business Report.
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