Why the “Your Wallet, Too” Approach is a Terrible Way to Garner Sympathy for Apple

Posted on Jan 28 2013 - 10:50am by Deidre Richardson

Screen shot 2013-01-26 at 8.55.22 AM

[Photo Credit: Gizmodo]

Apple has had a tough week, with more investors either selling stock or reducing the company’s share price by $50 or more. I have listened to stock and financial analysts this week who provide some excellent advice for Cupertino to get back on its feet and reverse the negative, $200 per share losses the company has experienced over the last 4-5 months. As I have said in prior articles, gaining record revenue of $54.5 billion means little if your investors lose confidence in your stock and your profit flatlines for an entire year. $54.5 billion doesn’t mean much if your profits lose to your enemy, Samsung Electronics, four quarters in a row, either. No matter how many Apple fanboy tech writers tout the achievements of Apple, and how many consumers write comments in blog sections to praise Apple and its products, the numbers remain and do not lie. If any other company (except Apple) reported the types of losses that Apple reported in the last year, Apple customers and fanboys would be ready to throw in the towel and declare the company half-dead. As for Apple? All I have read this week is that we “shouldn’t count Apple out” and “the company will come back from this.” Apple may still remain after the stock price roller-coaster comes to an end; however, what will Apple be when all of this is over?

This leads me to the point of this article: to discuss what I call a “heart-tugging” attempt at making consumers everywhere feel Apple’s pain. Here is the supposedly heart-tugging statement:

“Today Apple’s stock has taken a turn and in the case that it does not recover the fund lots of mutual and retirement funds will hurt. The end of Apple’s stock mayhem doesn’t just hurt the fanboys’ hearts, but your wallet, too” (Rebecca Greenfield, Why the End of the Apple Bubble is Bad for Everyone).

In other words, the Apple fanboys are the least hurt of the two camps; those who lose pensions, bonuses, and retirement funds because of the price drop in Apple’s shares are hurting along with Apple. On one hand, I do feel sorry for those who must suffer because of Apple’s price drop. I am sorry that they are innocent victims who will suffer financially because of the actions that a company has made to iterate instead of innovate for the last few years. Apple is responsible for the situation it finds itself in with investors and consumers. Unfortunately, many individuals suffer on a daily basis because of the actions of others. It is unjust that anyone’s retirement funding should suffer because of the actions of one company – and possibly one or two individuals.

At the same time, however, it is the result of the typical Wall Street “rise and fall.” Everyone who invests in Wall Street stock or owns stock by virtue of their employment knows the risks associated with stock investments. Average consumers read and watch the news on a daily basis and know that the stock market shares rise and fall from one day to the next. To do business with Wall Street is to gamble with your finances. A gamble is a gamble, and there are no guarantees that your money will triple or make you millions. If investors did not know this before they invested, then it’s time to rethink their money-making strategies. Sometimes, the roll of the dice lands you in the “minus” bracket.

The Yahoo article tugs at the heartstrings when one considers all the unfortunate financial consequences that will come to so many retirement funds because of Apple. I shudder to think of the losses and the fact that some individuals may have to forfeit retirement and continue working. At the same time, where I come from, there are lots of individuals who do not have pension plans and retirement funds, who only have enough to survive from paycheck to paycheck, who have not made millions. They are the ones to be most pitied. As for Apple, Cupertino is responsible for the current situation. Apple should lose sleep at night and the fanboys should cry, but not me. I will not – and neither should you.

 Subscribe to our newsletter!

We respect your email privacy


Tags:


About the Author