Beals writes, “Magazine cover stigma, even with a favorable slant to the story, began with jinxed championship proclamations on the front of Sports Illustrated but have expanded to stocks.
“Memorably, Jeff Bezos was Time Magazine’s Person of the Year in 1999. Amazon.com’s stock dropped from a high of $113 in December that year to $5.51 in October 2001. Of course Amazon closed on Friday at $1,168.
“There are no serious professionals who change their portfolio allocations based on magazine cover indicators, wrote Brown. ‘People who were already predisposed to agreeing with the premise of a Barron’s cover story will enjoy the confirmation it offers,’ he said. ‘Those who were already predisposed to have the opposite opinion will hold it up as evidence that the current trend has reached the end of the line.’
“As for the Barron’s piece itself, the authors say at $899 billion already, Apple is easily the closest company to a $1 trillion market valuation, and its iPhone X, along with a rising stream of service revenue, looks likely to get it there.”
Read more here.
Jared Serre, a tax reporter at Law360, is leaving the news organization next month. He…
Lauren Silva Laughlin, U.S. editor of Reuters Breakingviews, sent out the following on Tuesday: I’m…
The Wall Street Journal has hired two new staffers and promoted a current staffer. They…
Fortune magazine has launched "Ask Andy," a bi-weekly advice column for entrepreneurs and start-up founders.…
The Wall Street Journal is looking for a full time senior publishing editor to join…
The Wall Street Journal is looking for an experienced and determined reporter to join our…