Beats with everything
Apple plans to preinstall iTunes Music (formerly Beats) subscriptions on devices within a future iOS update. The US markets have enjoyed one of the most amazing rallies I can remember. Just as the market tanked and looked about to crash, a rally took over that shot US stock indices to yetmore all-time highs. It’s not that the market can’t slump and crash; right now, oil, one of the key financial instruments on a global scale, has crashed – and if it can implode, anything can. From over $100 a barrel, it’s now down to under $70.
Back at Apple, meanwhile, the stock is on a rally at all-time highs. Bendgate and the bankruptcy of a key supplier of sapphire screens are both forgiven and forgotten. At $119 a share and a valuation of $700 billion dollars – that’s half of Britian’s national debt! – Apple looks to power on through $120 a share towards the destiny of being America’s first trillion dollar company.
It might seem like madness, but in a world of central banks and their unconventional monetary policy, almost anything is possible.