The release of Apple's iPhone 6s and 6s Plus models in September led to record sales in China, which accounts for more than a fourth of the company's operating income. Apple, whose products are often viewed as status symbols in China, is in competition not just with its South Korean archrival Samsung, but with the increasingly popular Chinese smartphone makers Huawei and Xiaomi.
'In the meantime, the U.S. continues to grow its own domestic production both in oil and gas. I think, for us, it's less about where the actual price is going--it's more about how much more growth is left in North American oil sands, shale gas, shale oil,' as well as shale exploration elsewhere, he said.
A new paper on the Dutch debacle, coauthored by Peter Koudijs at Stanford Graduate School of Business, turns up modern-day lessons about the not-so-scientific ways in which personal experience rather than market information can determine optimism, pessimism, and access to credit.