“Apple stock rose Friday on news that the Cupertino, Calif.-based consumer electronics leader will join the Dow Jones Industrial Average later this month,” Patrick Seitz reports for Investor’s Business Daily.
“Some, however, see Apple’s addition to the Dow a warning flag,” Seitz reports. “‘Apple joining Dow is extremely bad for Apple,’ Global Equities Research analyst Trip Chowdhry said in a note. ‘Joining Dow takes the shine off the Apple and makes it a rotten Apple. Companies in Dow have historically symbolized companies which are boring, have zero innovation, are complacent and are inching closer to irrelevance by the day… which is definitely not what Apple is all about.'”
Read more in the full article here.
MacDailyNews Take: Oh, puleeze. We don’t call him “Trippy Chowderhead” for nothing:
• Apple has only ’60 days left to either come up with [an iWatch] or they will disappear. – Trip Chowdhry, May 2014
• Apple does not have the capability to understand the competition and lacks the vision and ability to deliver new products; Jon Rubinstein understands what needs to be done and has the ability to deliver. – Trip Chowdhry, April 2014
• To prevent further destruction of shareholder value, Apple’s CEO and CFO need to be replaced sooner rather than later. The team of Jon Rubenstein [sic] (Father of iPod) as CEO and Fred Anderson as CFO, may be best to revive Apple. – Trip Chowdhry, March 2014
Apple to join the Dow Jones Industrial Average – March 6, 2015
Analyst: Apple to unveil Apple TV App Store as soon as next week – October 8, 2014
iWatch: Apple is not here to entertain you – April 14, 2014
Jon Rubinstein as Apple CEO? – April 7, 2014
Apple can’t replace Steve Jobs, but it must try or something – March 12, 2014