Marc Faber: Apple could face bankruptcy

 The famous investor Marc Faber believes that Apple is a problem the company that makes many " frivolous " products and therefore may be directed towards bankruptcy.

" Apple shares are those you are not interested ," Faber said in an interview quoted by Business Insider. " I'm not saying that they will sink , but may get there eventually ," said another prominent investor.

According to Marc Faber eventual fate of Apple has a similar example from the past.

" It's like a Polaroid of the 70s . Eventually she , like Apple, has been founded and led by renowned innovator who eventually left her," recalls Faber.

"Dr. Edwin Land, who is the founder of Polaroid, was the owner of more patents than any other in the world," said Marc Faber.

1982 Land left his seat on the Board of Directors of Polaroid, and subsequently dropped from his research position at the company. In 2001 and famous for its production of sunglasses company filed for bankruptcy protection and continue to sell its assets.

At present, Apple certainly is a far cry from the fate of Polaroid. The technology giant has current assets of $ 43 billion. Her only income in the second quarter of 2013 even reached $ 35 billion.

Faber argues that the technology industry is full of " tombstones " of ekspazarni leaders. "We and many other examples of high-tech companies that simply disappeared," said the investor.

According to Faber biggest issue of Apple is that its products are not suited to human needs.

" It's just a company that produces toys for grown-ups," said popular investor.




Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Weakening consumer confidence

Marc Faber clearly is still feeling rather bearish on the stock markets and specially on the US stock market. He comments on the consumer confidence.

"With what is going on consumer confidence is going to worsen further. Any common sense man, he looks at congress sees a dysfunctional government, is not going to rush and buy out goods. Secondly, according to the Feds own statistics the money that was printed by the Fed has gone to 5 percent of the population. Maximum 50 percent of the population household wealth is still down more than 40 percent from 2007 peak."




 Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.