This photo seems like something that should move Apple’s stock: Lines of people form overnight for the release of the iPhone 4S in China. If you’re afraid to own Apple’s stock when it hovers up around $420 a share, and near it’s all time high, this might just give you the guts to buy more at these levels. And a lot more at that. Just look at the lines of people.
Increasingly, Apple is becoming a stock that you just never sell. It’s almost a hold for life stock. Plus, there’s word that they will offer a dividend since they have nearly $100 billion in cash on their books. And then there’s talk of an actual Apple television. And so on. Even after the passing of Steve Jobs still seems poised to be a brand you want to own and a maker of must have products. Now, the must have is taking form in China too.
This is directly from Liz Phung in Beijing:
“Apple announced last week that the iPhone 4S will be released Friday, January 13th at 7am at the Beijing branches. By 9pm the night before the release, large lines formed around the store and into the public square. Most individuals lined up are scalpers and will sell them for thousands (RMB) more than their retail value.”
So I guess the Chinese are just as eager to yell at their phones as we are over here in the United States – give Siri a try. Although I think Siri only speaks English. But I’m guessing most iPhone buyers can speak enough English to ask their phones for directions or what they should do with their life.