For the widow of Apple co-founder Steve Jobs, the saying about death and taxes being life’s only certainty probably rings true — particularly taxes. Laurene Powell Jobs learned she must pay $867 million in capital gains taxes and is being advised to unload millions of Disney and Apple shares worth nearly $7 billion.
When it comes to huge investors who buy mammoth blocks of Apple stock, there’s only one question: what have you done for me, lately? If you want to know why product launches are so important to Apple, it’s because the launch of a new product is critical to investors who believe Apple isn’t worth a plug nickel without its latest and greatest products.
Wall Street seemed ready to have an epileptic seizure last month when Apple merely reported an incredible, record-breaking quarter instead of whatever financial fever dream they imagined, so this ought to give them a little spring in their step: the iPhone 4S is now the best-selling smartphone at all three of the top US carriers. Duh.
Many thought the first trading day after Standard & Poor’s downgraded the U.S. creditworthiness to AA+ would elicit some reaction from Wall Street. However, Monday has been crazy on the big board, with Apple leading other shares for wild swings.