Hedge Funds Bet on Steve Jobs’ Next Move

Original Article from Seeking Alpha Long Investment

Jason Schwarz submits:

So here we are. Apple is at all time highs. The stock is up another $5 today. The Apple/QQQQ slingshot trade has generated huge returns. We’re waiting to sell until Apple moves against the market to the downside. But what is really going on here? This stock action certainly isn’t happening because mainstream
investors decided they wanted to buy in last Friday. This isn’t
investing 101. This is advanced hedge fund action so let’s make an
effort to understand things from their point of view.

This run is happening because of Norway. About a month ago, some third
party Apple reseller decided to put a link on their website to allow
customers to pre-order the iPad. They had to shut it down because the
demand was overwhelming. We all know that Steve Jobs worries just as
much about marketing as he does about the products themselves. At the
end of the day, nobody actually needs an iPhone or an iPad in the same
way

that nobody needs an In-N-Out Burger or a Tito’s Taco. The
atmosphere of standing in line to get your favorite product is very
important.

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