We are being framed

Here is today’s example of poor business journalism.
I actually wouldn’t even call it journalism.

The article was published on Business Insider Australia’s website and sadly (for them) The Australian 🇦🇺 Financial Review re-printed it.

Since the headline quotes an AUD $113 billion market cap decline, I’ll stick with using Australian Dollars 🦘in this post.

So, that makes Apple’s 🍏 AUD market cap A$2.92 trillion. That’s Trillion….

Incidentally, that figure is A$1 trillion more than Australia’s annual GDP. 😳

By the close of today’s trading session, Apple’s share price declined 2.65%, which is only A$77 billion. It’s much more dramatic when the author picks the lowest price of the day to quote within the article.

Although in the previous day’s trade, Apple’s stock price SOARED 6.35%.

This was an approx. A$ 185 billion increase in market capitalisation….

It is possible that Apple’s stock price may have risen in positive anticipation of a new range of phones being released?

But I can’t seem to find any news article about the previous day’s bonanza ‘anywhere’.

The author hasn’t lied or misled but my community service message is to understand or question how stories are being ‘framed” for your consumption.

October 14, 2020
by Rob Zdravevski
rob@karriasset.com.au