Apple regains the title!

World’s most valuable company after stock surge

If I were a stock day trader — which I’m not — I’d buy options on Apple stock to expire the day after a major Apple event.

AAPL reliably dips after every Apple event — as it did after Monday’s WWDC24 keynote. Apple stock dropped 1.9% in Monday's session after Tim Cook and crew wrapped up the event.

But by Wednesday, the stock came ripping back. Just look at this chart posted to X (Twitter):

I guess it took investors a couple of days to digest the news about Apple’s AI plans.

Like the rest of us, Wall Street likes what it sees.

Also in today’s newsletter:

— Leander Kahney, EIC.

A message from the Cult of Mac Deals team

A message from the Cult of Mac Deals team

Tweetz o’ the day

One more thing ...

Woz and I are different in most ways, but there are some ways in which we're the same, and we're very close in those ways. We're sort of like two planets in their own orbits that every so often intersect. It wasn't just computers, either. Woz and I very much liked Bob Dylan's poetry, and we spent a lot of time thinking about a lot of that stuff. This was California. You could get LSD fresh made from Stanford. You could sleep on the beach at night with your girlfriend. California has a sense of experimentation and a sense of openness --openness to new possibilities. Besides Dylan, I was interested in Eastern mysticism, which hit the shores at about the same time. When I went to college at Reed, in Oregon, there was a constant flow of people stopping by, from Timothy Leary and Richard Alpert to Gary Snyder. There was a constant flow of intellectual questioning about the truth of life. That was a time when every college student in this country read Be Here Now and Diet for a Small Planet.

— Steve Jobs, 1985.

Today’s poll

Have you ever shorted Apple stock?

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Results from yesterday’s poll: Do you immediately install Apple’s betas on your main devices?

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