Things Just Keep Getting Worse for Apple
Alex Moschina|March 23, 2024
Dang it, Biden!
It’s getting harder and harder to operate a good old-fashioned monopoly these days.
Apple (AAPL) is now in a face-off with the U.S. Department of Justice after spending more than a decade building up the walls around its insular iPhone ecosystem.
The DOJ takes umbrage to Apple’s “our way or the highway” approach to the smartphone market. It says the company should open its gates and allow competing app stores, cloud-based software and payment processors – all of which violate Apple’s current policies.
For its part, Apple argues that it bans these types of programs because they would make iPhones slower and less secure. It’s merely a coincidence that, if allowed, they would cut deep into the company’s bottom line.
Clearly the DOJ isn’t buying Apple’s excuse. “Competition makes devices more private and more secure,” says one of the department’s top lawyers.
In other words… Mr. Cook, tear down this wall!
The news dealt yet another blow to Apple shareholders this week. As of Friday morning, shares were down 7.5% for the year.
It’s now looking more crucial than ever for Apple to unveil some AI-centric good news… and fast… as Shah has been calling for.
If recent history is any guide, we’ll be back with an update on this saga soon enough.
But looking ahead…
Not even a $2.65 trillion megacap like Apple can keep this market down.
Especially when you have the Fed announcing not one… not two… but THREE rate cuts are on the way.
That’s the big takeaway from this week’s FOMC meeting, which concluded on Wednesday.
In response, the Dow shot to a record close. The major indexes are now up an average 32% over the past 12 months.
The Nasdaq continues to set the bar here. Which is all the more reason to check out the latest edition of Alpesh’s Dealmaker’s Diary series.
In it, he looks at a Nasdaq-listed stock that few folks (outside of Mexico) have heard of.
Nevertheless, the stock is on a tear this year – already up more than 40% since the start of January.
Alpesh dug into the key numbers and other factors driving its ascent here.
And speaking of foreign companies…
While Tesla (TSLA) and other big-name automakers dominate the discussion surrounding EVs, there’s really only one stock that has Shah’s attention in the space.
In yesterday’s Total Wealth, he made the case for it being the only EV stock worth buying right now.
Give his argument a read here.
And, as always, keep scrolling for links to everything we published in Total Wealth this week – including an answer from Robert to a common question about the upcoming Bitcoin halving.
The halving is quickly approaching, so rest assured that we will have more for you on the topic soon.
In the meantime, let us know your thoughts about what’s happening in crypto here. Are you excited? Frightened? Buying? Selling? Completely checked out? We want to hear from you.
Alex Moschina
Alex Moschina is the associate publisher of Manward Press. A gifted writer, editor and financial researcher, Alex’s career in publishing began more than a decade ago when he worked at one of the world’s leading providers of academic research and reference materials. Alex first cut his teeth in the realm of investing when he joined the team at White Cap Research in 2010. There he was charged with covering emerging market trends and investment opportunities. A stint as senior managing editor and editorial director at the prestigious Oxford Club followed. A frequent speaker at conferences and events, Alex has led educational workshops across the U.S. and Canada.
