Rubles and iPhones
Via the BBC: Rouble turmoil leads to Apple halting online sales in Russia
Technology giant Apple says it cannot sell products online in Russia because the rouble’s value is too volatile for it to set prices.
The company stopped sales of its iPhones, iPads and other products in the country after a day in which the currency went into free-fall.
The rouble has lost more than 20% this week, despite a dramatic decision to raise interest rates from 10.5% to 17%.
[…]
Apple last month increased its prices in Russia by 20% after the weakening rouble left products in the country cheaper than in the rest of Europe.
I wonder if Wall Street will reflect this in the price of Apple shares?
It becomes clearer why Republicans love Putin…he’s been far more effective at hurting Russia’s economy than Republicans have been at hurting ours.
PUTIN/CRUZ ’16