Friday, January 27, 2012

NO BRUISES ON THE APPLE

Well, kiddies, this week to separate investigative reports suggested that Apple was having its devices built in – gasp – China! Not only that but their devices are actually being built by – this just in! – Chinese folks. Who knew? There is even the suggestion that some of these Chinese folks don't have a 401(k) and a dental plan.

A lot of supposedly smart people are looking for Apple stock to decline with these revelations of supposedly substandard foreign labor conditions. Maybe it's just me but I think that sweatshop stuff might have traction against your odd Kathie Lee Gifford but not against freaking Apple. In the first place, Apple is already Humungo monolithic multinational corporation. It can be admired, studied and copied but it is still going to be a gigantic corporation from whom people expect nothing except good products. This is not Ben & Jerry's or even Starbucks. Moreover, it produces technology. Indeed, it produces pretty effective technology. As long as people get their iPods and iPhones within a few days of release, they are definitely going to overlook a sweatshop or two.

I would not be looking for a near-term buying opportunity.

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