17 December 2012BGR:
Back in early October, shorting Apple (AAPL) and going long Nokia (NOK) seemed like lunatic moves to most investors — which is why it has worked like a dream for some. Nokia’s share price is up by 40% since that point in time while Apple has tumbled by more than 20%.
Swings and roundabouts1. Apple stock has struggled throughout this year, in stark contrast to its performance in 2011. Stock markets don’t mean everything, but it is still amusing to observe these fluctuations.
1 I still think in the long run, Nokia will struggle and Apple will bounce back. Feel free to call me biased, but those are my views based on the current market situation.