This week Apple CEO Tim Cook defied a court order to provide “reasonable technical assistance” to the FBI in regards to unlocking the iPhone associated with the Oct ’15 San Bernardino terrorist shootings.
I think a face saving compromise could be reached whereby Apple is allowed to disable the security feature without actually giving the code to the FBI. This probably won’t happen because the government doesn’t want to give up “chain of custody”. Of course this argument is absurd, because let’s be frank: Who do you trust more and fear less…Apple or the FBI?
[Suggestion to Tim Cook- perhaps you could claim the necessary software is unavailable because it was stored on Hillary Clinton’s email server and backed up on Lois Lerner’s hard drive. I’m just say’n. ]
If the heavy hand of Big Brother does impose its will on Apple, it will most likely not be good for the stock. Below is a chart which juxtaposes Apple’s stock with Volkswagen. Note the steep decline in VW’s price after the emissions scandal broke.
Listen to the Wealthsteading Podcast to receive updated market commentary:
The 10 Wealth Building Principles can be heard at:
Subscribe to the Wealthsteading Podcast:
Building Wealth, Investing, Retirement, Stock Trading, Money, Freedom