“The unfathomable just took place: Apple shares fell sharply on Monday,” Steven Russolillo reports for The Wall Street Journal.
“The stock — which had gone nearly straight up since hitting new all-time highs last month — finished down more than 2% just two days before Apple is expected to unveil a new iPhone,” Russolillo reports. “Considering the stock’s sharp rally throughout the last few weeks, a little profit taking doesn’t come as a total shocker. And before panic ensues, it’s worth pointing out this selloff barely causes a dent in Apple’s yearlong rise, (the stock is still up 64% in 2012).”
Russolillo reports, “But to some chart watchers, there could be some underlying technical factors behind today’s drop that could portend more trouble ahead. From Dow Jones’ technical guru Tomi Kilgore: If it acts like a reversal, you have to assume it is one. Apple (AAPL) opened at $680.45, above Friday’s close of $680.44, then rose to an all-time high of $683.29 before reversing ground. Apple is now down more than 2%, on track to close below Friday’s low of $675.77. If it does, that type of behavior can either be called a ‘bearish engulfing’ or a ‘key reversal day.’ Either way, it warns of short-term pullback. Levels to watch include potential gap support at $648.19-$649.90 and $636.76-$638.81. A key level to keep in mind is the 50-day moving average, which comes in today at $627.19. Shares dropped 2.6% to $662.74.”
Read more in the full article here.
This wed Apple will soar over $700 for a deal I can’t tell right now(don’t want to be sued) . U guess what it is ?
China Mobile.
A deal with Lucy H. Koh??
+1
I don’t think so. As an Apple lover and investor I certainly would like to see that but I don’t think so. I don’t believe the iPhone five will impress the crowd that much. The crowd that invests in AAPL that is. I bought puts this morning and sold this afternoon. So it was a very profitable day for me. May do the same tomorrow because I don’t think it will be any better. Actually I expect it to drop all week. We’ll see.
Raymond: you will be back to let us know how happy you are that Apple is over $700 Wednesday won’t you? I hope you’re correct. We’ll be waiting to see you. Don’t forget to come back Raymond.
I think TIM COOK has made an agreement with CHINA MOBILE last trip to China as i can see his face so happy when he arrived back to CA.
I think the deal has been made but it’s only the matter of when to announce.
IPHONE 5 is a great chance.
Raymond. You saw Tim Cook when he came back from China? He told you that he made a deal with China Mobile? Did he invite you over for a barbecue? Wait a minute Raymond, first you say he made a deal then you say you think he made a deal. Which is it Raymond?
Humpty dumpty. Had a great fall. All the stealing ideas and taking credit for others hard work couldn’t put dumpty. Together again.
Why are you talking about Samsung? This is about Apple’s stock.
+∞!
Beauty. Don’t you just get tired of fanboys going on and on. Rational, objective thinking. A little more of that and a little less whining goes along way in life. Thanks for your adult observation.
OK… MDN and Cult members listen up! Stock prices are and have always been manipulated to suit the needs of not you the little fellow with 100 or so shares but the institutional investors, the mutual fund managers and of course the 1%ers.
Apple and Google both ride the current winds until the winds change direction to another flavour of the day. Until then Apple and Google will be the darlings of Wall Street and if you have the money and the sense to crystallize your gains then play along and cash in while you can. Forget your paper gains as crystallization of your gains are the only gains worth mentioning unless of course your mutual fund includes these two stocks which the NAVPS should benefit you without the need to sell.
Yup. You can’t spend paper gains.They’re only good for bragging.
TROLL
Troll? How the hell is an honest comment considered trolling? You sir are clueless. Go sit with the rest of the fanboys and play with your Newton.
This happens every time a product is going to be announced from Apple.
Nothing New, but you have losers like the “Wall Street Journel” pushing out the same regurgitated moth balled link bait.
And the big problem is people see this as something new.
I believe their proper title is the “Wall Street Urinal.”
So if Apple falls the last 3 days of gains these dumb asses start to panic?
Stock market is mostly for LOOSERS.
That’s losers,loser! Wow!!!
Meh.
Redemption hit the nail on the head. Anyone who’s followed Apple product announcements for more than a couple years knows this happens every single time. Even after the products are announced, the stock will dip. My gut feeling has always been that the price is manipulated by Wall Street gurus so they can cash in on some quick and easy profit, but that’s just the skeptic in me talking. 🙂
The selloff is in case the iPhone 5 is not up to the hype. If it turns out to be great the stock will soar 12% that day. If you have been an AAPL long for a while you don’t even sweat this bs anymore.
Panic has set in from Amazon’s iPad killer offerings and fear that the next iPhone will not meet tech pundit expectations:
No NFC
No 4.5″ display
No HDMI out
No fingerprint reader
No removable battery
No MicroSD slot
No haptic feedback
No carbon-fiber case
No Liquidmetal
No multiple colors
No Steve Jobs innovation
We’re lucky that Apple didn’t plummet $30 today. Of course, there’s still a few more days to go for Apple to sink a lot further. Besides, everyone says that Apple needs a correction to take it out of bubble territory.
/s
How can it be a bubble when it is trading at 15 times earnings? Amazon is trading today at 314x!!!! THAT is a bubble.
Amazon hit their highest at 259 a share… where are you getting this 314x?
Kiddin, right?? Only a few idiots could expect any one of those points, save fingerprint reading. They will not happen, so stop hoping, it’s futile.
To assume the stock market behaves logically is a mistake. People are far form logical but are predictable, stocks will go up and down that’s the way it works if you don’t like to gamble then don’t play in the market.
I prefer gambling with cards where there are probabilities I can calculate and understand. ‘Logic’ and ‘stock market’ belong nowhere near each other in one sentence except as counter-examples in apposition of opposition.
I like that, “‘Logic’ and ‘stock market’ belong nowhere near each other in one sentence”
Aapl will always go up and down. Up when the broker pump up the stock, down when they shoot it down. In between they buy and sell to make money.
Ignore the downs and Aapl stock will go up over time as long as it continues to make good products.
I see little to suggest this will change in the short term (2-3 years).
Don’t you see the pattern? A legion of pundits (not to be confused with journalists) committed to helping themselves and in-the-know investors talk down a product they’ve never seen (called FUD) so that the shares drop in the days leading up to an announcement. Every announcement. Then, they buy at the deepest point just before the announcement so they can ride the rally that most always comes after the announcement when little to nothing of the FUD that was spread before the announcement comes true.