“Apple’s stock is falling along with a sell-off in the broader market,” The Associated press reports.
“The stock of the world’s most valuable company has now fallen more than 20 percent from its all-time high of $705.07, hit on Sept. 21,” AP reports. “That was the day the latest iPhone went on sale.”
AP reports, “Apple Inc. still has the world’s heftiest market capitalization at $548 billion. Oil giant Exxon Mobil Corp. is next, at nearly $418 billion. Apple shares are down [$18.00, or 3.10%, to $562.19] in midday trading Wednesday. The tech-heavy Nasdaq composite index is down 2.6 percent.”
Read more in the full article here.
MacDailyNews Take: This roller-coaster got you woozy, yet?
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What happened !!! Is iPhone supply issue overdone ?
“Obama II: The Sequel” happened.
Enjoy the soup lines, kiddies. I’ll be at my lake house. With my guns. And my offshore accounts.
🙂
First 2010, then 2012 not so much.
You lost big, now go away
He won’t: we’re all he has.
Oh, and guns. Compensating.
Ahhhh, displaying your core values of greed and paranoia I see. Hope there’s some sand at your lake house to bury your head in!
Haha Loser
Thank-you! Now I know who to thank for the buying opportunity.
30 October 2012: “This race is over. President Romney and Vice President Ryan. Get used to it.”
SO wrong… you must be a great disappointment to your folks, F10T12.
SO wrong. . .
Sell or still hold long?!
I’ve been in this stock since the single digits, still holding about 80% of my original position. I have watched these sell offs over and over, some over 40%. I do not see evidence of any fundamental dangers to prevent a recovery back to the 700s. Taxes will have to rise whoever won last night. So planning to lighten the position at some point, not now.
Has Apple peaked?
No, FUD is at its peak.
So glad I sold a lot for $701, which was my mark. Now I am again buying shares as much as I can. It will go up again.
Makes me want to buy on margin.
+1
For the first time I’m actually thinking about it. My thought is if it bottoms out, who gives a shit if I pay it back or not. Doesn’t seem to matter now days. House debt, car debt, school loans…..not one cares and it’s not like they’re going to throw me in jail.
Damn, I really hate having a moral conscience. It’s slowly desolving away though.
The good news is that AAPL is near its lowest PE in years. Their is a basement to this thing and I think we have hit it (or maybe as low as $550). It can only go up from here.
Its irrational, but there it is. If APPL were to stay at a PE of 12.5 forever, then the stock will rise in lockstep with its earnings rise. In other words, from this point, if apple reports a 20% rise in earnings this coming quarter, and it stays at 12.5 PE, then the stock will rise 20%. Of course at that point people will see apple is not doomed and slingshot the PE up to 16. Buckle your seat belts come mid January!
By the way, from last Oct 14th to Nov 25, AAPL lost 14%. By Jan 1 it was back up to the Oct high and by Apr. 5, another 50%.
If you bought stock at the Nov low, last year, you would have almost doubled your money by Sept 21!
Need to circulate rumors of Apple Control laws under Obama so people will rush out and stock up on AAPL like they are doing with gun stocks. (But wait! People already are rushing out and buying up Apple products. All sold out? Blame it on Obama….)
Blind, leftist radicals rejoice!
this stock is a joke. nothings changed and its down 150 from the high.
???
This stock has grown over 500% since Obama took office. Hell, even within just one year, it grew over 40%. And it is the largest cap in the world. Which other large cap company had anywhere near massive growth?
So, you’re happily willing to watch it lose the remaining 40% in another month’s time. No thanks. That’s not the way the market is supposed to perform. Apple earned those gains through increased revenue and profits. Those are still there, but the share price is being eaten away just the same. What large cap tech company is taking the hardest hit today? You guessed it. Apple.
So, some wealthy old white men who hate Obama are trying to send a message via the stock market?? This wouldn’t be the first time… and it won’t be the first time it rebounds either.
Obama haters: get a grip! Take a deep breath, turn off the Fox News & Limbaugh propaganda, and start using your brain for a change. Spend more time at fact-checking sites like PolitiFact, FactCheck and OpenSecrets instead of tuning to media that’s lowering your IQ and tearing this country apart.
Smart investors will be buying more AAPL.
i’Caled, as MDN would say!
Should have sold it at $700.00… Financial cliff in less than 2 months! Enjoy America. But hey, you got your free contraception and a big yellow bird is safe.
And it’s why does Obama hate some wealthy old white men!
Some wealthy old men causing the stock market to go down? Not all wealthy men are white! There are wealty Arab, Asians, Hidpanic too. Wall street is a cabal of all flavors not just white guys. Funny how everyone is all for globazilation but these same globalists still bring out the tired cliche of evil rich white men. I think the this view needs to progress to modern times. Get over the white man is cause of all troubles unless you are a follower of Nation of Islam.
At least a few of you might learn from Apple’s death spiral that listening to so-called, self-proclaimed amateur “analysts” like Andy Zaky will get you nothing but a heap of butt-hurt. Do any of you remember Zaky’s call of a $610 “bottom” for Apple? He may prove to be off by $60 or $70 by the time Wall Street has its way with Apple. Never trust an Apple cheerleader just because they’re willing to show you their panties.
What’s Apple’s fearless leader doing about now? I passed his office a bit earlier and peaked in. He was sound asleep, drooling on his desk while Apple shareholders were getting their hearts ripped out. What really pains me most after my company’s value is rapidly decreasing is that Steve Jobs legacy is being destroyed by executives who don’t have a clue on how to control a supply chain. I have to watch while Google and Amazon take turns kicking Apple’s head in when Apple should have buried both of those companies with a direct strike of $120 billion of reserve cash. Apple is becoming a farce on Wall Street and the tech industry. I really wish Tim Cook would grow a pair instead of throwing away money on useless legal battles that Apple always manages to lose.
Don’t count on Apple’s P/E staying at even 12.5. It can easily go a lot lower and still be called a bubble stock. It’s ready to join Cisco. Just understand that no matter how much money Apple makes that Wall Street is ready to destroy shareholders’ dreams for falling in love with an Apple logo.
/s
I know nothing, so take this with a grain of salt, but having watched AAPL for 8 years from about $45 I predict it bottoms out between $490 and about $515. They’ll keep selling to wring out all the nervous nellies, as well as those who think they can time the selling to get out at a loss, but get back in even lower. Then in a flash it’ll be up, up, up. But don’t get greedy. It’s still going down, I say. My money’s out right now.
YES
Watch your future end!
I also read that stocks were down today because of problems in Europe not just election jitters.