We don't need jobs. We just need an iPhone
Apple Reaches $700 as IPhone 5 Shatters Sales Record
By Adam Satariano and Ryan Faughnder - Sep 17, 2012 4:47 PM ET
Peter Foley/BloombergPeople in line at the Apple Inc. store on Fifth Avenue in advance of the sale of the iPhone 5 in New York, on Sept. 17, 2012. The iPhone 5 is expected to go on sale at stores on Sept. 21.Apple Inc. (AAPL) surpassed $700 in late trading after announcing record first-day orders for the latest iPhone, fueling optimism that the company will keep generating the revenue growth that transformed it from a niche computer manufacturer into the world’s most valuable business.Enlarge image
Apple Inc. shares surpassed $700 in late trading after announcing record first-day orders for the latest iPhone. Photographer: David Paul Morris/BloombergShares climbed as high as $700.44 after reaching a record $699.78 at the close in New York. The stock has advanced 73 percent this year.The iPhone 5, which features a bigger screen, faster chip and a lighter body, sold 2 million units in first-day orders, more than double a record set by the previous model, Apple said. Since its 2007 debut, the device has become Apple’s top-selling product, accounting for about two-thirds of profit. Signs of robust demand reinforced expectations that Apple will withstand accelerating competition from Samsung Electronics Co. (005930) and Google Inc. (GOOG) in the $219.1 billion smartphone market.“It leaves me in awe,” said Rex Ishibashi, chief executive officer of Callaway Digital Arts Inc. (2326), which develops games for the iPhone. “It’s reflective of how important these devices and these digital technologies have become in our lives.”Apple’s surge gathered steam Sept. 14, after it began taking orders for iPhone 5. Apple’s website said new orders wouldn’t ship until Sept. 28, a week after the handset is due in stores, an indication that supply may be running thin.“The initial batch is sold out,” Shaw Wu, an analyst at Sterne Agee & Leach Inc., said in an interview. He raised his sales estimate for the quarter ending in September to 26 million units, from 23 million. “We think that could turn out to be conservative.”Exxon, Microsoft
Apple surpassed Exxon Mobil Corp. to become the biggest company in the world by market capitalization last year after overtaking Microsoft Corp. (MSFT) as the most valuable technology company in 2010. Before his death in October, co-founder Steve Jobs mastered a strategy of pushing Apple beyond its core business of selling computers into new markets, including digital music and mobile phones. Each new family of products helped the company boost revenue while inducing investors to snap up more shares.http://www.bloomberg.com/news/2012-09-17/apple-reaches-700-as-iphone-5-shatters-sales-record.htmlAnd what are the really rich buying?Diamond sells for $9.7 million at Swiss auction
Diamond sells for $9.7 million in an auction in Geneva. Marie de Medici wore the 34.98 carat Beau Sancy diamond at her coronation as Queen Consort of Henry IV in France in 1610.
By John Heilprin, The Associated Press / May 16, 2012
GENEVAMarie de Medici wore it at her coronation as Queen Consort of Henry IV in France in 1610, and now the Beau Sancy diamond is a lavish accessory owned by an anonymous bidder who paid $9.7 million for it at Sotheby's auction.The spring auction season for jewelry and watches is upon Geneva, where elegant lakefront hotels fill with well-heeled buyers and bidders in a scene far removed from the debate over European austerity.Five bidders fueled the price on Tuesday at the Sotheby's sale for the Beau Sancy, a 34.98 carat diamond that had passed among the royal families in France, England, Prussia and the Netherlands. It was sold by the Royal House of Prussia, the line of descendants that once ruled Prussia.Another historical item, the Murat Tiara, sold for $3.87 million. The pearl-and-diamond tiara was created for the marriage of a prince whose ancestors included the husband of Caroline Bonaparte, Napoleon's sister. A diamond brooch known as the "Bonnie Prince Charlie" sold for $968,085. The brooch features a yellow diamond once owned by Charles Edward Stuart, whose attempt to regain the British crown led to the Battle of Culloden in 1745. At a Christie's auction Monday to benefit 32 charities favored by the Lily Safra Foundation, Safra's donated jewelry fetched nearly $38 million in sales — almost double what was expected.http://www.csmonitor.com/Business/Latest-News-Wires/2012/0516/Diamond-sells-for-9.7-million-at-Swiss-auctionAnd did you happen to know this?
Russia reveals shiny state secret: It's awash in diamonds
'Trillions of carats' lie below a 35-million-year-old, 62-mile-diameter asteroid crater in eastern Siberia known as Popigai Astroblem. The Russians have known about the site since the 1970s.
By Fred Weir, Correspondent / September 17, 2012
MOSCOWRussia has just declassified news that will shake world gem markets to their core: the discovery of a vast new diamond field containing "trillions of carats," enough to supply global markets for another 3,000 years.http://www.csmonitor.com/World/Global-News/2012/0917/Russia-reveals-shiny-state-secret-It-s-awash-in-diamonds
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