Wall Street’s Epic Fraud

AAPL’s by-now ridiculous rally has laid bare the monstrous fraud that is Wall Street. Hard as it is to believe, there will be analysts out with reports in the days and weeks ahead purporting to show why the company’s shares are still a decent value at these levels. What rubbish! As we know, the stock could be trading for $2,000 a share and these same shysters would still find reasons to own the stock.  With Friday’s psychotic short squeeze, Apple surpassed Aramco as the most valuable company in the world, achieving a valuation of $1.8 trillion. And for what?  The Cupertino manufacturer gets most of its revenues from selling a pricey cell phone that in some ways remains inferior to phones made by Samsung and Huawei. It was only recently that Apple after 20 years finally solved battery-life issues that its cult buyers had long ago decided to live with for as long as they had to. Is the company’s $1.8 trillion worth based on marginal improvements in the iPhone camera that are regularly touted as a reason to upgrade? Is the upgrade cycle itself perhaps vulnerable to the encroachment of a global depression? Such concerns will not have occurred to the fevered mob chasing Apple shares with no thought as to who will be the greater fools to make a profitable exit possible. Here’s a tip:  If the stock  rallies a further 7% and hits the 456.19 target shown in the chart, you should take the money and run.