Apple: The Economy Is "Depressed"
No one has official said we’re in a recession. But consider this: Apple (AAPL) thinks the economy is “depressed.”
As Michelle Leder points out in her always-interesting Footnoted.org blog, Apple’s latest 10-Q, filed yesterday with the SEC, includes some new language about the economic risks the company faces.
The new filing says this (emphasis added):
The Company’s operations and performance depend significantly on worldwide economic conditions and their impact on levels of consumer spending, which have recently deteriorated significantly in many countries and regions, including without limitation the United States, and may remain depressed for the foreseeable future.