Tuesday, February 14, 2012

Buy More AAPL

In response to growing pressure, Apple asked an auditor to inspect the overseas factories where most of their products are made. Despite bad press, the controversy hasn't had any affect on their sales. 19% of all consumer electronics bought in the 4th quarter of 2011 were Apple products; Apple received $1 for every $5 spent on electronics in the US. Their stock is soaring and is expected to continue performing well. Why hasn't the bad press affected their revenue? Because we don't care if our life-changing electronics are made in factories with working conditions that hearken back to the industrial revolution. All modern economies experience growth pains. Conditions in Chinese factories will improve, prices will go up, and electronic manufacturers will find a country with cheaper labor. All the while we will continue consuming amazingly shiny and life-changing Apple products. The release of the iPad 3 is on the horizon and there is still no worthy competitor. I think now is a good time to buy more AAPL.

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