May 25, 2012 - 05:30 PM EDT — AAPL: 562.29 (-3.03, -0.54%) | NASDAQ: 2837.53 (-1.85, -0.07%)

Apple trading above $161 in pre-market trading

Tuesday, November 13, 2007 · 9:08 am · 36 Comments

Shares of Apple Inc. (AAPL) are currently trading at $161.20 in pre-market action this morning.

Yesterday, Apple shares closed at $153.76.

Apple pre-market quotes via NASDAQ here.

MacDailyNews Take: Looks like it’s not only Bumbles that bounce!

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36 Comments

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owlcave

Tuesday, November 13, 2007 - 10:15 am · Reply

Sheesh, everybody decides to sell and take their profits and THIS is what happens !

Come back, APPLE !
Stock Trader

Tuesday, November 13, 2007 - 10:20 am · Reply

Last Chance.

Take your profit.

Wait until the median housing prices have stabilized for a few to several months and start heading upward then start buying longterm stocks again.

We are going to see a lot more “adjustment” in the housing market.

With bubbles, what goes up, must come down. That’s why it’s called a bubble.

Unfortunatly if the credit markets are bad, so does economic growth and people don’t buy much, especially non-essentials.

G. Bush had little impact on this coming recession, it was brought on by the Fed reversing the rate of inflation so long that it was in danger of going into deflation.

So the Feds gave cheap money to the banks, which loaned it to everyone, which created the real estate bubble, which created rapid economic growth and got the US economy back on a increasing inflationary trend.

So now comes the reccession, which is better than deflation. Where you have to pay banks to hold your money as it increases in value and prices of goods fall.

Imagine that?

Keyword: Macro Economics
@ Stock Trader

Tuesday, November 13, 2007 - 10:25 am · Reply

Are you saying I should I sell my AAPL today?

Thanks for your perspective.
Chris

Tuesday, November 13, 2007 - 10:27 am · Reply

Apple doesn’t need the market to grow in order for sales to accelerate and market share to increase. We’re taking away sales from Windows PCs.
Tom

Tuesday, November 13, 2007 - 10:28 am · Reply

The money is made on the buy. It is trading at a 20% discount. Poor StockTrader wanted to be a professor when he grew up, but ended up just being a whiner.

The shares of this company will trade cyclically because of the very nature of their market and their role within that market.

Understand the cycle, dismiss the whine, enjoy the money.
Macromancer

Tuesday, November 13, 2007 - 10:29 am · Reply

“G. Bush had little impact on this coming recession, it was brought on by the Fed reversing the rate of inflation so long that it was in danger of going into deflation”

Agreed. The Fed has a huge impact but also look at the greed of the housing lenders for their haphazzard lending policies that led us into this credit crunch we are in.
Bill in Providence

Tuesday, November 13, 2007 - 10:45 am · Reply

I’m not convinced we’ve seen the end of this aapl dip, even looking short term. In August, I believe it was, when aapl dipped from 150 to 113, that was pretty irrational, but reality nonetheless.
Stock Trader

Tuesday, November 13, 2007 - 10:46 am · Reply

There was a real estate bubble in Hawaii about 10-15 or so more years ago.

It was brought on by the US government asking the Japanese government to increase the value of their currency to match the US (the reason I guess was to thwart Communism in Asia?)

Anyway it created a flush of money for the Japanese which then took a liking to buying Hawaii and California real estate.

A real estate bubble occured in Hawaii, Japanese were riding around in limos and pointing to properties they wanted. The demand went up and then so did prices. People flipped properties just like what happened here in the US over the last few years.

The Japanese even bought up Hawaii hotels and renovated for the Japanese tourist, who could spend $300 a day compared to only $200 a day the American tourist could spend.

When the Japanese government couldn’t match the US currency, the Japanese economy blew out, taking the real estate bubble in Hawaii with it.

It also hurt the hotels, which basically shut out the American tourist with their measly $200 a day spending previously and no more $300 a day Japanese tourists.

In Hawaii, a lot of buisnesses went completely dead within a month. No customers nearly anywhere.

Lots of people were out of work. It wasn’t pretty.

I can certainly imagine this on a national scale.

This is why I warn you. I could be wrong like anyone, but it doesn’t hurt to be safe for the next several months.

Don’t bet the farm. Only gamble with what you can afford to lose.
Holy Mackerel

Tuesday, November 13, 2007 - 10:46 am · Reply

I think it’ll stay lowish until January 2008 since we we don’t have any pre-announced Apple products and the rumoured tablet Mac is not exactly a world-changer. But I hope to be proven wrong and get my funny-money back.
Open Your Eyes

Tuesday, November 13, 2007 - 11:20 am · Reply

“Agreed. The Fed has a huge impact but also look at the greed of the housing lenders for their haphazzard lending policies that led us into this credit crunch we are in.”

Except it was the Federal government and sad-sack feel-good pukes like Hillary and Fat Teddy other Dems who years ago were actually encouraging (in other words, threatening) banks and other lenders to go and make risky loans to “underprivileged” and otherwise non-qualifying borrowers. You know, people that wouldn’t ordinarily have qualified except for the government’s pesky, left-leaning interference.

Our over-reaching, insidious Congress is as responsible for this sub-prime mess as anybody else, but are they standing up and taking any of the blame? NOOOOOOOOOOOOOO!!!!!!!!

And some people will actually end up voting for that skank for President . . .
Don

Tuesday, November 13, 2007 - 11:21 am · Reply

Don’t be irrational … Apple is in great financial shape and the Xmas season will be a good one, maybe not a great one, for Apple.

Hang tight … the stock will rebound as the economy bounces back from his sub-prime problem.
Ferf Muckmeyer

Tuesday, November 13, 2007 - 11:22 am · Reply

Stock Trader,

You said it all. I think the market had been inflated for awhile, but now with this housing (and oil) crises, I believe it’s far from over. The retail season is upon us and it will tell a more definitive story. If this holiday season is as bad as they say, we have a long way to go before things hit rock bottom.

But given this is a forum dedicated to all things Apple, I will say this – although I don’t believe Apple will be affected significantly by the economy in terms of sales (nanos will be flying off store shelves) it was clear when the stock hit $190 that it was a reaction, not a true stock price. The stock was overly inflated. I think it has the potential for over $200/share, just not now. Seems to go in hand with Apple NOT splitting the stock at this point – I think they realize the same thing. Maybe I’m off on that one but in the past Apple seemed to split every time it hit $100.

BTW, that Hawaii example you pointed out was brilliant. Funny how we haven’t seen significant effects on the job market but I’m scared shitless about when it does hit. This is going to be one of the worst recessions in a long, long time.

Never, never put all of your eggs in one basket. Spread the risk among a portfolio of stocks. Yes, Apple has been exploding, but it doesn’t last forever.

peace out
ferf
Ferf Muckmeyer

Tuesday, November 13, 2007 - 11:35 am · Reply

I believe the Fed had fucked it up here. Can’t blame Georgy Boy, Congress or any of those stupid fucks. Greenspan was mostly a genius but I think he missed the boat on this one BIG TIME. The Fed dictates the rates charged to banks and they allowed this to happen.

My real question is how the fuck did our fabulous government, brilliant economists, banks and finance companies possibly think that when rates on these godforesaken ARMs adjusted that there would be no impact on the market? I live in an upper-middle-class neighborhood and people I have known for years are losing their homes everywhere around us. They were not all people with bad credit – they were people enticed by ARMs. Then salaries never increased and when rates adjusted, they were screwed. To me, all ARMs are subprime. Forget about the rates, credit scores, etc. – it’s the adjustment to the monthly payments that are killing this market. Picture this – a family around the corner from us picked up and moved out and handed their keys to their lender and said, “You fucked us, so just take the damn thing”.

Oh and @ Open Your Eyes,

Just to confirm – wasn’t Congress controlled by the Republicans for all of those years the subprime market was building? Ypu betcha.
Stock Trader

Tuesday, November 13, 2007 - 11:35 am · Reply

Funny how we haven’t seen significant effects on the job market..

Holiday help.

After all retail businesses make half their total sales of the year during this time.

But come the new year…

And a elections season on top of that?

Remember, the stock market doesn’t like uncertainty.
Mind Wide Shut

Tuesday, November 13, 2007 - 11:39 am · Reply

@ Open Your Eyes

When Thinking Fails, Blame A Clinton™

{this message brought to you by the Rush Limbaugh School of Not Actually Thinking®}
The dumbest thing you'll read all day...

Tuesday, November 13, 2007 - 11:43 am · Reply

Except it was the Federal government and sad-sack feel-good pukes like Hillary and Fat Teddy other Dems who years ago were actually encouraging (in other words, threatening) banks and other lenders to go and make risky loans to “underprivileged” and otherwise non-qualifying borrowers. You know, people that wouldn’t ordinarily have qualified except for the government’s pesky, left-leaning interference.
ChrissyOne

Tuesday, November 13, 2007 - 11:46 am · Reply

@ Stock Trader
“Last Chance. Take your profit.”

Pass The Savings On To Institutional Ownership! (which went up a percent today!)
Keep shaking the tree, boys, I need to buy more!
Stock Trader

Tuesday, November 13, 2007 - 11:50 am · Reply

Greenspan was mostly a genius but I think he missed the boat on this one BIG TIME.

You do know he retired just before this all occured.

He knew what was going to happen and didn’t want to ruin his reputation.

New monkeys running the Fed now, but at least they are listening how to reduce this recession.

I’m worried about a run on the banks like what occured on one in the UK recently.

Banks can and do fail, with all the sub-primes they gave out (Bank of America and CitiBank anyone?)

That’s why I’m under $100,000 at each bank. Sure the FDIC pays up, but the Goverenment just can print up more money to pay you with, the purchasing power is lost. And they could take several years to pay it all back, there is no guarranty you’ll get your full $100,000 value right away.

The Swiss and gold seem like safe bets right now.
Open Your Eyes

Tuesday, November 13, 2007 - 12:02 pm · Reply

Jerk Slutmaker wrote:

Oh and @ Open Your Eyes,

Just to confirm – wasn’t Congress controlled by the Republicans for all of those years the subprime market was building? Ypu [sic]betcha.

“Control” is a little different from actual strong-arming, douchebag. The committees in question were all filled with old-school, “feel good, do nothing” liberal pantywaists. “Give money to these people over here who can’t afford it in reality”, WAAAHHHH! “I strongly suggest you increase your loan approval rates to middle-class Americans, Mr. Banker”, WHINNNNEEEE!!

“But, Madam Congresswoman, if we do that then in a few years what are we supposed to do when these people start to default on all these loans?”

“Just do it. I’ve got to go back to my district and have something to show.”

Screw the Future! (Which is what you’ll be doing if you elect another uber-left wing fool as President.)
Mind Wide Shut

Tuesday, November 13, 2007 - 12:06 pm · Reply

@ Open Your Eyes

Please cite your sources. This is very interesting.