Apple is selling iPads at multiples of component cost. The retail price of an iPad 2 (!) in Paris is $500 at Fnac, a major retailer. Sales assistants will tell grannie that the little one really doesn't "need" the latest.
When you sell hardware at multiples you are a fashion firm. Apple is now the new Nike of the tech world. It has the indispensable glitterati coterie, and the necessary sweatshop connection.
Fashion houses may have more longevity than tech firms, so this transformation seems a good deal for investors.
Fashion houses may have more longevity than tech firms, so this transformation seems a good deal for investors.
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