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Apple has survived the iPhone 12 announcement week, and the stock continued its month-long recovery.
Shares of the Cupertino company kicked off the week with a loud bang: up nearly +6.5% on Monday alone. Over the following days, the stock lost steam progressively, just not enough to reverse what ended up being a good week for investors.
The FAAMG ex-Apple group also performed strongly, substantially better than the S&P 500. The graph below summarizes this week’s price action.
Bang and fizzle
The week was dominated by Apple’s iPhone 12 event, which the Apple Maven covered live, in real time. Here is how the week played out:
- Monday: the big day for the stock came ahead of the October product announcements. Apple was up 6.4% on no confirmed news, probably fueled by excitement for the launch of the iPhone 12. I suspect that retail investors might have had
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The race to represent parts of South L.A. and Koreatown on the Los Angeles City Council is turning acrimonious following the launch of an attack website and accusations of cybersquatting.
© Provided by The LA Times
L.A. County Supervisor Mark Ridley-Thomas sent a cease-and-desist letter to Grace Yoo, his rival in the race for City Council District 10, over a new attack website launched by Yoo. (Brian van der Brug / Los Angeles Times)
Grace Yoo, a candidate for the Council District 10 seat, last week launched MarkRidleyThomas.com, which criticizes Yoo’s rival in the race, L.A. County Supervisor Mark Ridley-Thomas. The site includes news coverage of the supervisor, including a Times story about a probe involving his son and donations to USC. The site also attacks the supervisor for not ruling out a potential run for mayor in 2022.
Ridley-Thomas’s team responded by sending Yoo a cease-and-desist letter