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Well, I don't know about rumors, I tend to stay away from them.

For the LTBH portion of my investment strategy, I agree, and I ignore rumors.

However, for options trading, those rumors can have a big effect, relatively speaking, and rumors of the iPhone X being cut have apparently knocked $13 off AAPL. Whether that's good or bad depends on one's specific positions or intended positions.

In the Steve Jobs movie, Joanna Hoffman -- played spectacularly by Kate Winslet -- told Steve Jobs (Michael Fassbender) that the original iMac was projected internally to sell 1 million units in the first 90 days, followed by 20k a month thereafter. I assume that the first 1 million units was weighted more heavily during the first month or so, rather than uniformly distributed over those first 90 days. (I also assume the movie echoed the actual projections correctly, but I don't have those at hand.)

These iMac numbers were considered a triumph. It should go without saying that iPhone X sales expectations are going to be different, but still, in comparison with the projected decline in iMac sales after 90 days, it's hard for me to get worked up over a 10-30% cut in orders for the iPhone X after a month, particularly for a radically new design (relative to the slower evolution of 6/6S/7/8).

All that said, however, the market seems more worked up about it than I am, so I have to face it with respect to short-term options (not so much with my LTBH position).

-awlabrador
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