What’s going on with Apple and thieves?
In the past year, there have been 5 or more robberies of Apple stores and Bust Buy stores, particularly targeting iPhone 5s, iPads, iPad Minis, and iMacs. According to Yahoo! Finance, this is becoming an Apple Crime Spree epidemic.
- In June, thieves drove a car into the side of a Best Buy building in Chicago and stole $10,000 of Apple products.
- In October, six thieves broke into a Best Buy in Florida and stole $40,000 worth of Apple products.
- Around the same time, more burglars $70,000 worth of Apple products from yet another Best Buy in Alabama.
- In November, thieves stole $1.5 million worth of Apple products from a building at the JFK Airport and used an airport forklift to do it. Around 3,600 iPad Minis were stolen.
- Finally, the most tactful scheme. On New Years Eve, while the police were distracted with dealing with the large crowds, the burglars broke into an Apple store in Paris and stole $1.3 million worth of iPhone 5s and iPad Minis.
Because it’s Apple.
Apple products are being targeted because it’s so easy for them to be sold in a secondary market. Their value preserves like no other electronic devices out there. Many people will sell their used Apple products on Ebay for a good, tidy price, and people will buy them because it’s worth it. And in some countries, the iPhone is a status symbol.
What does this mean for Apple and it’s stock price?
- Robbery is bad, but publicity, even publicity about bad things, is good publicity. You don’t see thieves stealing millions worth of Samsung Androids…just sayin’.
- Losing millions of dollars in products is never good for a company. But the tech giant currently has around 5.67 billion (not million) in free cash flow. Insurance will cover the losses and Apple will continue financially untouched.
- Apple will continue to grow and make technological leaps and bounds. I see the stock price rising back up to around $700 this year.
“The robb’d that smiles steals something from the thief…”
What does Apple get from the thieves? Stature, Publicity, and New Technology – All things Apple is, was, and will be in the future. Thank you to the thieves for reaffirming our beliefs in how epic Apple products really are. Thank you Apple thieves…for helping me keep my eye on Apple.
Many Happy Returns,