“It’s not a bad day for stocks overall, but the largesse of Apple has the company dragging markets down,” Travis Hoium writes for The Motley Fool. “At 3:15 p.m. EST, the Dow Jones Industrial Average has gained a mere 0.21% on a day when little news hit the market. However, other indexes haven’t been so lucky. The S&P 500 is flat, and the tech-heavy Nasdaq is down 0.2% after Apple’s shares fell 3.3% on rumors of production cuts. Apple’s market cap of $475 billion weighs more heavily on these two indexes than other companies, because both indexes are weighted based on market cap.”
MacDailyNews Take: “Largesse?” You keep using that word. We do not think it means what you think it means.
“Given today’s big sell-off, now is as good a time as any to give Apple a closer look,” Hoium writes.
Read more in the full article here.
The slingshot effect in full force before AAPL earnings.
Wall Street reminds me of the old Ant & The Aardvark cartoons.
largesse |lärˈZHes, -ˈjes|(also largess )
noun
generosity in bestowing money or gifts upon others: dispensing his money with such largesse.
• money or gifts given generously: the distribution of largesse to the local population.
ORIGIN Middle English: from Old French, from Latin largus ‘copious.’
I think MDN is correct.
I think they meant, “largeness”…
Ugly close portends more pains to come. $460 – $480 before earnings is in the card. The market is pricing in fair earnings and poor guidance as my hypothesis suggests. AAPL is a falling live grenade. Better buying opportunity comes later this week.
I’m afraid you could be right.