Tobacco, alcohol, and gambling are the “big three” most famous sin stocks. But another type of sin stock is often added to this group — defense stocks (or conflict stocks). They include weapon manufacturers — from gun manufacturers like Smith and Wesson (SWHC) all the way up to much larger high tech equipment like General Electric (GE).
Although we’ve suggested that Apple COULD be considered a sin stock because of its user addiction, restrictive corporate policies, and sweatshop labor, no one would lump Apple into the defense stock category…
… until now.
In an article reported by Reuters and then published in Digital Journal, a consortium of 162 organizations (both corporations and universities) received $75 million dollars in funding from the government for the research and development of high-tech sensor-embedded flexible materials to be used in military applications such as uniforms and aircraft surfaces.
Along with Apple, other companies include Boeing (BA), Motorola (MSI), Qualcomm (QCOMM), and others.
Source: Reuters “Pentagon Teams Up With Apple, Boeing To Develop Wearable Tech” with further reporting from Digital Journal “Apple, Motorola, And Others Help The Pentagon Develop Wearables For Soldiers”.