Talking to Fox Business, Cumberland Advisors Chairman and Chief Investment Officer David Kotok said that while Apple's share price is on the upward swing, it does not show that the technology market is getting stronger too. He commented further that Apple "created a deception in the market," evident especially in the events that unfolded after the famous tweet of investor Carl Icahn. "(The market is) weaker than the major indices show you because of Apple," Kotok declared.
Meanwhile, Erik Sherman of CBS's Moneywatch, sounding off Kotok's observations, pointed out that the consumer electronics industry is a saturated market. "Winning means not just in one region, but having a strategic approach that can bring success in many countries," he wrote in his article about the current Apple stock pop.
Apple recently broke on Wednesday above USD500 share price, and its stock performance trends indicate a staying power in the upward swing with talks of a new iPhone that will be introduced in September of this year.
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