“Shares of Apple (AAPL) had their worst day in nearly four years today as the stock dropped more than six percent and lost around $40 billion in market cap. The last time AAPL had a larger one-day decline was on 12/17/08,” Bespoke Investment Group writes for Seeking Alpha. “It has surely been a painful few days for AAPL longs.”
“At the same time, there have been a growing number of people betting against AAPL that may finally feel vindicated after trying to call the top in the stock for the last four years,” Bespoke writes. “As of the most recent reporting period (11/15), AAPL’s short interest as a percentage of float rose from 1.8% to 2.3%. This was the largest two-week increase since mid-February 2010, and it’s the highest short interest as a percent of float since April 2009.”
Read more in the full article here.
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There was no firm, concrete, definite reason why Apple’s shares grew that fast until September (except for general reasons like supposed growth prospects and some dividends, better than average for big companies P/E ratio).
So it was “bulls'” time mostly. But today is just “bears'” day, no point in attempts to find any specific reason for the price drop.
So basically, you’re saying that the stock market is merely a casino with no true way of valuing companies. I think you’re right. Trying to figure out why share prices go up or down is really a waste of time. I’m not being sarcastic. I think analysts should be fired because they’re not capable of getting anything right and Apple analysts are the worst of the bunch.
Hear, hear! Agree completely.
Agreed!
Sure they’re casinos. But you knew that, right? Except the traders have to supply their own booze, and they’re psychiatric cases susceptible to information overload, gullibility, and panic attacks. Shadowy investors in the stratosphere developed secret metrics for this and prefer them over objective valuations like P&L statements or P/E ratios. They take the cognitive temperature of the market and if it’s running a fever, they crouch, waiting for an opportunity to pounce.
For times like this…In his own words, Steve Jobs saw a buying opportunity. See video.
“The press and the stock price will take care of themselves”
If Apple isn’t worth this much then sure as hell Google isn’t worth the highs it’s at either.
Google’s valuation seems to be based almost completely on the hope that it will successfully monopolize mobile advertising.
I’m thinking AAPL is now deserving of the “beleagured” descriptor along with that other company, whatit’sname…
lol
Do you think the fact that capital gains tax is going from 15% to 30% in three weeks has something to do with it?
15% to 20%.
I think that has everything to do with it. But I dont believe the increase is 15%, thankfully more like 5. Which is still a substantial one third relative increase
Tim Cook is a wimp. Until there is a strong, inspirational leader back at the helm, forget about the price of AAPL unless you are a shorter.
Back to under your bridge troll.
Tim Cook? Wha-a-aaat?!?…
Blessed are my clueless sheep.
Don’t worry I fix everything like I did the election.
Communist Paradise is awaiting you all, like in my homeland Kenya.
FORWARD COMRADS!
You are pathetic. Move to another country please. I’m so tired of nutcases…
In the above statement, you epitomize almost everything that is wrong with the thinking of people sharing your political slant.
Get an education, and for shit’s sake, get over the fact that the majority of American’s saw through Mitten’s plastic smile.
Well said. I second, third, and fourth it- as many times as necessary to all those idiots for whom the shoe fits.
so, you don’t believe in one-vote-for-one-man either…
hmm! the worst day in four years. tell me, did Apple stock start its downward spiral post-Bush – or, in other words, with the ascension of 0bama?
judging by your collective confoundment, this doesn’t typify the pattern of Apple stock for the past decade or so.
Not sure what you mean by your “one vote for man” comment, as Mittens lost the popular vote by over 3.5 million.
Also, remember that at this time 4 years ago, we were still under the rule of the Shrub. Obama had not been sworn in yet. The country had been spiraling into economic disaster for the previous year or so thanks almost entirely to G-Dub’s complete negligence and utter incompetence.
Like I said to your brother above, get an education.
Your very hero did that.
At President Clinton’s direction, no fewer than 10 federal agencies issued a chilling ultimatum to banks and mortgage lenders to ease credit for lower-income minorities or face investigations for lending discrimination and suffer the related adverse publicity. They also were threatened with denial of access to the all-important secondary mortgage market and stiff fines, along with other penalties.
The threat was codified in a 20-page “Policy Statement on Discrimination in Lending” and entered into the Federal Register on April 15, 1994, by the Interagency Task Force on Fair Lending. Clinton set up the little-known body to coordinate an unprecedented crackdown on alleged bank redlining.
The edict — completely overlooked by the Financial Crisis Inquiry Commission and the mainstream media — was signed by then-HUD Secretary Henry Cisneros, Attorney General Janet Reno, Comptroller of the Currency Eugene Ludwig and Federal Reserve Chairman Alan Greenspan, along with the heads of six other financial regulatory agencies.
“The agencies will not tolerate lending discrimination in any form,” the document warned financial institutions.
So this is where it all started. In 1994. When the government pressured lenders to qualify the unqualified. To put people into houses they couldn’t afford. Or else.
And what, precisely did Bush do to correct the problem before it snowballed? Nothing, absolutely nothing. Hence, the negligence and incompetence statement above.
Additionally, Clinton was also guilty of repealing the Glass-Stegall Act as one of his last acts in office. This helped set the stage via financial deregulation for the disaster we would feel 8 years later.
Again though, the Bush Administrartion did nothing to reverse that course, despite the clear and obvious warning signs, and I still hold that he deserves the Lion’s share of the blame.
It’s one thing to start a fire, it’s another thing entirely to be aware of the fire, but ignore it while it guts your neighbors’ houses.
I saw Mittens at costco the other day….lol
Well at least Mitt doesn’t have a mother out there that claims her son was murdered execution style shortly after the election, because he used to fuck Obama in a Chicago Gay Club.
Reaching a little there, aren’t you? No chance at all that this isn’t some sensationalist media-whoring?
C’mon man… Had someone made this accusation against a GOP-er and brought it up completely out of context, you’d be calling shenanigans right now.
Having said that, I think the balance sheet of shitty inhuman acts is much longer for Romney than for Obama.
In before someone blames it on Obama.
Looks like you’re too late.
Shit, you’re right.
Was there ever any doubt?
This is truly bonkers, AAPL’s nearly 4 x cash. We all know they’ll blow the doors off on Jan 24th with the Q1 results. Just goes to prove markets aren’t efficient.
Can you say Buying Opportunity?
Read the headline again. Yeah, see, that’s the problem.
That’s the shorts cashing in, people. They drove the stock down with their propaganda, bought it cheap, rode it up and dumped. The stock market is rigged shell game.
Well, I guess the honeymoon is finally over!
Seems like Microsoft is having the disaster — and would benefit Apple. I’m totally flabbergasted.
Nice $400 stock. Only $138 to go.
Shares of Apple (AAPL) had their worst day in nearly four years
Massive, grand-slam stock price manipulation. Just watch who’s buying right now.
BANG! AAPL’s rubber band *SNAPS* its price back into reality, that being OVER $800 a share.
What’s going on here is just plain old human greed and conning the suckers. The suckers are the one’s selling off today. Get that mark! Never give a sucker and even break.
😛
Conning the suckers is right. This manufactured recovery is nothing more than a classic bear market trap and those who haven’t been paying attention are going to take the pipe when the markets retest the 2009 lows, taking AAPL with them.
You can see better in the dark than I can! My head spins with all the noise going on around us, with no apparent point except people wanting attention while playing their chosen games. No wonder people bury their heads in the sand and play pretend.
No crystal ball here Derek. Just using the facts in front of me.
For example. Ben Bernanke said last week, “…the elevated levels of stress in European economies and uncertainty about how the problems there will be resolved are adding to the risks that U.S. financial institutions, businesses, “and households must consider when making lending and investment decisions.””
That statement was a very rare warning straight from the mouth of the Fed Chairman that “households” (investors) need to be cautious.
Then we have the DJIA. Look at the annual increase in the DJIA since 2009:
2009: DJIA increased 18.8% over 2008
2010: DJIA increased 11.0% over 2009
2011: DJIA increased 5.5% over 2010
It’s clear the FEDs quantitative easing is no longer giving the DJIA the same shot in the arm that it did in previous years. There are other indications as well. I’m not going to get into them here.
In the end, people are free to believe anything they want. We’re all entitled to our own opinions and beliefs. Mine just so happens to be the market is going to get worse before it gets better.
In the end, everyone will do what they believe is right for them. And that’s as it should be.
Wall Street is SOooooo rigged! It’s 2days past a shell game! They don’t even botther with the shells anymore. Until all the day traders and short sellers are REQUIRED to take their Casino Capitalism to Las Vegas and play WITH THEIR OWN MONEY, the average investor will continue to get played. Those big-money folks control the media which is necessary to carry out endless vacillations between Pump & Dump followed by screaming “CHICKEN LITTLE WAS RIGHT!!” this stuff is much harder to do without ANALysts conjuring “headlines” and sound bites.
Paranoia it may be, but it’s well-honed and well-informed paranoia: The day before the resumption of the Apple-Samsung lawsuit is an ideal time to humiliate Apple in the market. The Samsung group contains a massive securities subsidiary, and the company has strategic partnerships around the world. Draw your own conclusions.
Sure the South Korean firms are corrupt, in bed with the government and their partners, and practice the art of manipulation far and wide. Such tactics may squeeze money out of the stock markets but has less effect on court proceedings. In any case, Apple deals in durable goods, not manipulation, to make its money. A solid bottom line for any firm is superior to any variety of flimflammery in the long term.
The stock market should just forget about real companies and just go completely virtual. Just have “analysts” make stuff up about fake companies and do it all as like a fantasy league.
There’s so much information available nowadays, so many opinions, that the actual performance or prospects of companies are largely irrelevant.
You have seen nothing yet. The best is still to come!
Once my full vision of the United Socialist Sates of America, also known as USSA, fully manifests, your Apple stock will be at $20.
Welcome to my Comminust Paradise, you dumbasses!
FORWARD COMRADS!
How many times that of Dell now MDN?!?! Ha ha ha.