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Thursday, 18 September 2014 17:26

Apple tipped $A slide

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Say what you like about Apple or the iPhone 6, the company seems to know what it's doing when it comes to predicting currency fluctuations.

It's apparent to most observers that Apple rarely changes the prices of its products.

By and large, a new product comes out, the price is set, and that's it - at least until there's a new and improved version, and then if the old one isn't withdrawn its price might be reduced.

So when Apple picks the price of a new model, it's placing a bet on what's going to happen to currency exchange rates.

When the iPhone 6 and iPhone 6 Plus were announced, there was the usual round of carping in some quarters about the 'Australia Tax'.

One Australian site crunched the numbers based on an exchange rate of US$1=AU$1.09, and concluded that we were being asked to pay around $100 more than US buyers.

At the time, I remarked to my iTWire colleagues that I thought this meant Apple was expecting a drop in the value of the Aussie dollar.

And what happened?

The iPhone 6 and iPhone 6 Plus ships tomorrow, and the exchange rate isn't $1.09 but $1.11 with the Aussie hitting a six-month low last night.

That change doesn't account for all of that $100, but the movement is in the direction Apple appeared to be banking on.

So if you're a currency speculator, perhaps you should watch Apple's prices closely.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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