The majority of the workforce in the western world still struggles to make ends meet, but Apple continues to make billions and billions out of them.
Shares in technology giant, Apple, surpassed its previous high, hitting $183.50 on Friday. The frenzied trading followed news that serial investor, Warren Buffett of Berkshire Hathaway fame, had purchased 75 million shares in the firm.
The move saw the company come close to a market capitalisation of $1 trillion – a simply unimaginable and staggering amount of dosh.
Whilst it’s all well and good that Apple’s top brass make a tonne of money, and professional investors cash in to the tune of big bucks. What the markets, and the world fail to see is where all this money is coming from.
iPhones, iPads, iWatches etc etc are purchased and used, yes by the elite, but also by the working classes.
Here’s my Point
Yes, I agree with the capitalist system, and if there’s demand to exploit it for a profit.
But, doesn’t there come a point where it becomes pure greed? Apple are making billions at the expense of some of the poorest in society. If the profit margins are so high on these products – and here’s the thorny theological part – how can the executives of Apple sleep at night knowing that they are shamelessly profiting from those that have the least?
In most industries, this sort of pricing strategy could be construed as price gouging.
Those who purchased an iPhone – and thus used iTunes in the late 2000’s, are effectively stuck using Apple products. That’s because their music, video and app purchases are locked to that platform.
Yet the prices of devices continue to sky-rocket with each new launch.
The problem is, no one, no government, no investor is ever going to say or do anything about it.