Fevered Investors Eager to Forget the Latest News

by Rick Ackerman

Index futures were wafting higher Tuesday night, evidently unfazed by mounting evidence that coronavirus has already slowed the pace of global economic growth significantly. Such worries as occupy investors’ tiny, fevered brains these days centered on Apple, the most valuable company in the world. (I don’t count Aramco because, well, who cares that it’s actually bigger?) The Cupertino manufacturer of egregiously overpriced cellphones and accessories, and of late an aspirant in the overcrowded streaming-content business, announced Monday afternoon that Q1 results would take a big hit from work slowdowns and weakened sales in China. Apple shares had to play along with the announcement, since it would have been unseemly and even a little bizarre for the stock to have risen on such news, emanating as it did from Apple’s own PR desk.

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