Can I effectively get Apple to buy my iPad for me in a few months by buying $10,000 in Apple stock, adjusting for taxes?
Matt Krantz reports for USA Today, “Seems like there’s nothing Apple’s (AAPL) stock can’t do. Given the parabolic rise of shares of Apple, it’s become the can-do-no-wrong company with the can-do-no-wrong stock.”
“And when a stock does no wrong — only goes in one direction (up) and rarely has bad news — as Apple’s has, questions like yours come up,” Krantz reports. “And you know what? While your question might sound outlandish, it’s not only true, but actually understated. It turns out that had you bought Apple stock at the end of 2011, you could have bought six iPads by mid-March.”
Krantz reports, “With most stocks, what you’re asking about would be highly ill advised: Buying shares of a company with the hope of turning around and flipping them to buy a $500 product in a few months. But several readers have said that’s exactly what they’re doing. They buy Apple stock, watch it reliably soar and then sell shares to buy Apple gadgets.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “ChiMac” for the heads up.]