APPL is still on track to log its worst performance in six years.
“Some of the bloom is off the rose. I think that’s a little bit unfair. We still think it’s a great story, we still think its going to have a good six months, but some of the excitement and momentum traders have backed off, probably in part because of a risk-off general attitude in the markets.”
However, the stock is still on track to log its worst performance in six years.
In 2008, Apple shares fell more than 50 percent. Since then, the stock has consistently risen 5 percent or more.
“We tend to see a little bit of a trail down in Apple going into earnings, we tend to see people be worried. And then we see the shares strengthen after the earnings are reported.”
Max Wolff, chief economist at Manhattan Venture Partners, said the stock’s lackluster performance this year is likely due to concern about the completion of the Apple car, sales of the new Apple watch and more risk-averse investors.
“Some of the bloom is off the rose,” Wolff said Friday on CNBC’s “Trading Nation.” “I think that’s a little bit unfair. We still think it’s a great story, we still think its going to have a good six months, but some of the excitement and momentum traders have backed off, probably in part because of a risk-off general attitude in the markets.”
However, Wolff said Apple’s third-quarter earnings report, which is scheduled for Oct. 27, could bring some of that excitement back. Read the rest of this entry »
A man from Detroit has offered to sell his house for an iPhone 6
The unnamed individual originally listed his three-bedroom property for $5,000 (£3,100) in June, but has now slashed the price to either $3,000, or the latest version of Apple’s iconic smartphone. He would also accept a 32GB iPad, and is willing to negotiate, according to his estate agent, Larry Else.
“Detroit’s not a monster. It’s just ahead of the curve”
— Kevin D. Williamson
The 2,400-square foot house is in poor condition, with broken windows and peeling paint, in one of Detroit’s poorest districts. Even so, the trade has highlighted the contrast between America’s thriving technology industry in Silicon Valley and the economic blight still affecting other parts of the country. Read the rest of this entry »
This isn’t really my department, but I’m trolling for our Hong Kong Bureau Chief — a hopeless Supercar wonk and noted ‘vette enthusiast — to add commentary. Consider this a Bat-signal.
BEIJING – A suspected dust explosion at an automotive parts factory in eastern China that supplies General Motors killed at least 69 people and injured more than 180 others, most with severe burns, state media reported Sunday.
It was China’s most serious industrial disaster since a fire at a poultry plant killed 119 people in June last year, and again highlighted workplace safety that remains a concern.
Saturday morning’s explosion occurred when more than 200 workers were on the site of the factory, which is in an industrial zone in the city of Kunshan, officials from the city said at a news conference. Kunshan, in Jiangsu province, is about 1,000 kilometers (600 miles) southeast of Beijing.
State broadcaster CCTV showed footage of large plumes of thick, black smoke rising from the plant, and news websites posted photos of the dead or injured lifted onto the back of large trucks, their bodies black, presumably from burns or soot.
Some survivors sat on wooden cargo platforms on the road outside the factory or being carried into ambulances, their clothes apparently burned off and their skin exposed.
The explosion occurred at 7:37 a.m. at a workshop in the factory, which polishes wheel hubs. Rescuers pulled out 44 bodies at the site, while 25 other people died at a hospital, officials said. At least 187 people were injured. Read the rest of this entry »
1961 Buick “Flamingo” with rotating front seat. pic.twitter.com/0Sg34N9Yij
— Historical Pics (@HistoricalPics) May 22, 2014
Monotony Motors: Why today’s cars all look alike
For The Weekly Standard, Patrick Cooke writes: Anyone who’s ever misplaced the family car in a parking lot at the mall must surely sense that we are not living in a golden era of automobile design. Gazing in panic out across that vast tar pit, every car seems to look like every other car. Late-model midsize sedans and compacts, especially, appear nearly identical. It’s no help that there are only a handful of basic paint colors to offer clues: white, black, silver, and gray. The quest appears to be at an end when you climb behind the wheel and realize that you are . . . in somebody else’s car.
When doors open this week at the New York International Auto Show, the grumbling will continue, as it has for the past few years, that there isn’t much new and different to see. The public once flocked to auto shows to marvel at groundbreaking designs created by giants in the field like Harley Earl at General Motors who “styled” magnificent sculptures in the early to mid 20th century. They bore names like Firebird and Golden Rocket. Today, mileage standards and safety regulations largely determine what most cars rolling off assembly lines look like. Auto styling may not yet be a dead art, but the artists have certainly been thwarted. As standardization by governments has taken hold—there are more than 200 safety and environmental regulations that go into building a car—the challenge for designers is no longer to create something uniquely beautiful, but to turn out a product that’s in compliance—and hope people buy the result.
LAS VEGAS (AP) — The 2015 Chevrolet Corvette will have a new system that lets owners record their drives and share the video with friends.
The system uses a windshield-mounted camera, a microphone and a recorder to track data. Drivers can edit the videos to include their speed, location, lap times and other stats.
The video can be viewed on the Corvette’s eight-inch color touchscreen when the car is parked or downloaded to a computer. Drivers can record up to 13 hours of driving time.
Remember how the Obama re-election campaign kept crowing that “General Motors is alive and Osama bin Laden is dead”? Well, Osama is still dead, and the government is now selling the last of its GM stock — at a loss to taxpayers of $10 billion. Who has gained? Bloomberg’s James Sherk has the answer: GM’s UAW-represented employees.
Sherk points out that the government agreed to — actually, it engineered — terms quite different from those of ordinary bankruptcies. UAW members, unlike employees of bankrupt airlines, took essentially no haircut, and there was even $1 billion for UAW employees of Delphi, to whom GM had no legal obligation. (Delphi was spun off from GM several years before)
Aaron Smith reports: Barra, an executive vice president and 33-year GM veteran, will succeed current CEO Dan Akerson on January 15, the company said.
Akerson, 65, is retiring several months earlier than planned because his wife has an advanced stage of cancer, the automaker said.
The announcement comes at an important time for General Motors — one day after the U.S. Treasury Department said it had sold its final financial stake in the company, closing the book on its 2009 taxpayer bailout of the auto industry. Read the rest of this entry »
This video isn’t new, for Corvette enthusiasts, (bat signal to our ‘vette editor-at-large) but if you’ve seen it in movie theaters recently, then you’ll recognize it, and how much fun it is on the big screen. Last weekend I attended a screening of Gravity in 3-D (a whole other subject, don’t read the reviews if you haven’t seen it, just go see it, it’s is as good as they say it is) and this was one of the clips that played along with the previews and ads. Normally I detest advertising when I’ve already paid $14 to see a feature motion picture, in a movie theater, instead of staying home, where I expect to see ads, but this was definitely an exception. This YouTube video barely does it justice. On the big screen, it’s thrilling, one of the best car ads I’ve seen. Has anyone else seen this on the big screen? Let’s hear.
Chris Paukert writes: This Chevrolet may be a freshly minted product of Bowling Green, KY, but here in the Motor City, we’ve been seeing examples running around undisguised for the better part of a year (since shortly after it debuted at the 2013 Detroit Auto Show). Pre-production test cars have positively carpeted the area’s roadways – if you live here and haven’t been seeing at least two or three a day, it’s either because you’re too busy texting while driving or you’re a shut-in. Even so, we can’t help but gawk each and every time we see one.
Recent Corvette generations have been notable more for their bulbous, smooth fiberglass bodywork than for their intricate surfacing, but this generation is different – and not just in the details. Self-appointed purists may bemoan new developments like the squared-off taillamps and the lack of a rounded glass backlight, but there’s no denying the C7 has major-league presence, even without our test car’s optional Z51 specification, which adds all manner of vents and a prouder rear spoiler. With its sinewy sheetmetal creases, it looks fresh, modern and habitually aggressive – far more so than even the last generation’s range-topping ZR1.
The new Impala will likely go on sale next summer as part of the 2015 model year, GM said. It will be equipped with both a traditional gas tank and a separate compressed natural gas tank mounted in the trunk.
Drivers will have the ability to toggle between fuels, with total range expected to be “up to 500 miles.”
The new Impala will join a number of natural-gas-consuming vehicles already on the market, including the Honda Civic, the Chevy Silverado and the GMC Sierra 2500. The vehicles attempt to take advantage of the U.S. shale gas boom unleashed by hydraulic fracturing, or fracking.
While contributing Editor Dr. Strangelove (a long time ‘vette-head) is deeply involved in Hong Kong Law concerns, I’ll publicly admit what he’s jazzed me about privately for as long as I can remember: my ignorance about cars. Not only am I a complete moron when it comes to the automotive world (even though I myself own a popular sports car) I’d go further, and say that I know less about cars than Jenny. I’ll let Jenny take the wheel from here.
Let me preface this by saying I know very, very little about cars other than that I like shiny ones that go fast. But I do know how to flirt, and sometimes the best flirting is to have a little bit of knowledge about something boys find interesting. Like fast cars. See? In the Venn diagram of things boys and girls both like, fast cars exist in that middle overlapped section.
The Great Recession has put a lot of people out of work and has taken a huge bite out of the value of pretty much everybody’s real property values. It bankrupted some historic companies, too, including Lehman Brothers and General Motors. ( slideshow )