“Apple shares sold off sharply on Tuesday in afternoon trading on no apparent news,” Reuters reports.
“The stock fell about 2.5 percent on heavy volume to around $443 in afternoon trading while the Dow and the Nasdaq remained positive,” Reuters reports. “Apple is expected to release a line of new products, including its next generation iPhone and iPad, this Fall. However, the company is widely believed to also be unveiling a product in an entirely new category at the end of the year which many speculate is a smart TV.”
Read more in the full article here.
MacDailyNews Take: Sleep tight, SEC.
[Thanks to MacDailyNews Reader “JES42” for the heads up.]
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The Shorts are getting out before the stock(and the market in general) shoots up over the next 3 months..
If the shorts were getting out (by buying shares), the stock price would be rising due to demand, not falling.
Perhaps this is a reaction to the David Trainer $240 FUD ‘analysis’ of AAPL? Any excuse is enough to spawn some profit-generating volatility.
If Apple’s worth only $240, then its worth the same as Netflix. That’s calling Apple practically worthless if you ask me. Netflix is being given a P/E ratio of 600.
A $10 drop is next to nothing in the total scheme of things, but it’s darn annoying to see ONLY Apple taking all the lumps.
Yes, the SEC is in a coma. Tim and the Apple board had a lot of time to fix this with 1 or 2 billion in buy backs today. They did not. No battle should be ignored. The will be back to pull cash from AAPL shares because Apple let it happen again. 7 months of this and Tim and the Apple board have learned nothing. If Apple will not buy AAPL then why should anyone else. I did not need another hit in my 401K. They will be back because Apple left the bank door open and they now know that they can load the trucks up after selling AAPL again! “Sleep tight,” in Cupertino, CA.
Don’t blame them because you didn’t sell your AAPL when you had a chance. 705 down to 385! What part of that don’t you understand? You keep blaming everyone else but yourself. No one else owns your shares of AAPL. Buy low. Sell high. Read that and remember it. It’s called a profit on your investment. That’s why you invested originally. Or do like some here have done, buy and hold forever and pray that it comes back to your original purchase price someday. That is no strategy. It’s your choice. And it was your choice. And you made a decision. Don’t blame everyone else for your inability to understand the number one rule of investing. Invest to make a profit. Enough!
I see you are a psychic genius. I am a long time owner and investor in AAPL. I have bought and sold through the two prior crashes of Apple’s stock in 2000 and 2007. They look like speed bumps now.
It is different this time. This time, Apple had the resources to defend the value of their shares which is an obligation they have to their share holders. They let this happen for 7 months and made several mistakes during this time. Many issues still remain including the lack of any kind of effective advertising. They are resting on the reputation that already existed and do little to reach out to new users. Apple survives despite their lack of management.
I keep saying to myself that Apple has an awful lot of idle money sitting around. Why wouldn’t Apple do more advertising to stop the bleeding (if that’s actually true). What’s the point of hoarding all that money. I look at it as if you’re on a battlefield, you wouldn’t keep trying to save bullets as the enemy closes in on your position when you’ve got millions of rounds of bullets to use. I’ve come up with some weird analogy, but I’d want to load all my bullets in a Gatling gun and just obliterate the enemy. I can no longer tolerate Google and Android and I’d like to see them put to rest once and for all.
No, I’m no genius. Just smart enough to know that at some point an intelligent human being takes a profit in whatever they’re invested in. I doubt seriously that you have sold in the past, or you would not be in such a bad position this time. And you wouldn’t have to complain constantly. You would, as you have said, be retired now. But I’ll bet you take your profit if Apple goes up high enough again. And I too have been a long time AAPL investor. AAPL ran up too high too fast last summer. Something that underwater investors just absolutely refuse to acknowledge. Apple has competition now so they don’t have the entire world to themselves anymore. Again, something that underwater investors can’t admit. It doesn’t matter if it is competition that copies your products,the only thing matters is that you have stiff competition. But Apple has always been smart enough to know that competition would come. They just didn’t expect it to be that fast. And that’s successful. You’re right, Apple did make mistakes during the last 7 1/2 months. But the share buyback and increased dividend was a positive move. We do agree on not defending themselves and the lack of effective advertising. That’s just plain wrong. That is a huge failure on the part of Apple.
Explain why you think 700 is too high for Apple? If the entire S&P 500 traded at Apples valuation tomorrow there would be people leaping from buildings. Apple is not overpriced at 700 ….Enough!
Exactly. GM your ego appears to be supported only by your hindsight.
The company has to announce their buy back purchases a specific time in advance. They are NOT permitted to just jump in and buy shares when they want. You don’t know what you are talking about.
Did you look at the volume charts? If so, how do you know for certain that Apple isn’t buying back cheaper shares this afternoon than had they bought in the morning? Perhaps they bought back all throughout the day.
When this level of pressure is put on the stock, they look weak inviting more in days to come without an overwhelming buy back holding the line near the price it opened at. They learned nothing in7 months of the same daily assaults.
Good night.
Damn peculiar,
Apple has not released anything in the past 24 hours that is both awe inspiring and stunning. This is proof that Apple has lost its edge in technology and capacity of innovation.
Where was Dougie Kass at 2:00 pm?
Polishing his gnome.
I figured it was the news of them going under 20% marketshare.
I thought it was the:
Gartner Apple falls below 20% marketshare
and/or
AAPL belongs at $240 report from earlier today…
I know, both bogus, but rarely does AAPL respond to anything legitimate anymore… If they did, they’b be back at $700.
me too
I was sure it would rocket once it hit 460. Somebody is manipulating things. I want Apple’s iStock app that will protect me.
CNBC claimed that someone (not sure who) heard a report that the iPhone 5S would be delayed from June to Sept. as the reason for the drastic drop late in the trading day.
Ahhh so they must have just figured that Tim Cook was blowing smoke when he publicly said “NEW PRODUCTS COMING THIS FALL.”
I just spoke with Tim, he said that’s not true.
Uh, in terms of no apparent news, didn’t Gartner just announce that the iPhone marketshare has dropped below 20%?
And isn’t that a few headlines below this one?
I’d say that would be cause for alarm by some.
Apologies for repeating the obvious – which wasn’t there when I began the post
Apple is not trying to day trade the market. They are trying to retire as much stock at the best prices it can. They will sell puts to acquire and do preset open market and private trading. They are a wee bit more sophisticated than you Jersey boy.
So what you’re saying is that its possible that Apple is the one manipulating the stock in order to get the price low enough to buy as much stock as possible!
Pretty clever.
This is “Casino Economy” at is best. No logic.
I got out at $450 before and back in at close to $400. I had planned to set $450 as sell order but set it at $475. Dumb. I think we will see APPL swing between $375 and $450 at least until a new iPhone this fall. At that point we could see dramatic increase or the end of Apple as we know it. ICal me again, It is a sell for now. Sell in May and go away.
See you in July Joe.
I just feel bad that EVERY freaking stock on Wall Street is going up and only Apple is going down. It’s like even Apple’s financial tinkerings can’t help Apple’s share price rise along with the rest of the stock market. I’m not really worried about Apple’s health but I’m still concerned about Apple’s loss of smartphone market share. Not because Apple is losing money but because Wall Street doesn’t give value to any company that’s certainly losing huge amounts of market share.
I just feel Apple should have done more with its money than just try to buy into Wall Street’s favor. Hopefully things will get better but I think it’s going to be a long and miserable summer for Apple shareholders hoping for Apple’s share price to rise. That $3.05 per share dividend looked quite nice in my account, so it’s not a total loss. I really hope the next iPhone is a top seller to consumers and that should perk up the stock somewhat.
Some perspective: During the long global economic depression that started in 2007, what was the ONE reliable company that THRIVED and grew dramatically in value?
Apple.
So now that the recovery from the depression has apparently occurred, parasites are latched on Apple’s teat and sucking it dry for AAPL value. You make sense of it. All I see is crazy people doing their usual crazy rubbish.
There is a reason – we just don’t know what it is yet. We many not ever know what it is, but rapid movements of the stock do not happen without cause.
See my post about cocaine psychosis below. There’s a cause for ya!
it is not surprise that APPL dropped 2.5% because this kind of falling without reason happens all the time for other stocks as well. you think that APPL keeps continually steep growing? like someone said here, time is very different now. you can’t expect skyrocket. unfortunately, APPL won’t get $700 anytime anywhere. now it’s impossible. plus, apple just prepares for another lawsuit against Samsung with Galaxy S4. apple can’t get over it? why do they keep doing this? it is wasting time. instead of it, please, be focused on innovation. I guess that this news might affect on drop yesterday. anyway, apple is not apple anymore. it’s too bad that they became blind to make money. it’s not what apple would be. I am done with it.
Mr market , I give u advice, stop pushing AAPL down for any reasons !!! Otherwise I will make u scare !!
Cocaine psychosis is a temporary state of mind wherein one loses control over his wits and of reality. It is brought about by taking cocaine excessively which can make the taker feel uneasy and act erratically which can often lead to very violent behaviors…. Cocaine psychosis is not a condition that should be treated lightly as the effects can be very extreme and inhuman.
http://cocainepsychosis.com
Thus the modern US stock market and its corresponding Wall Street analcysts.
Why do i own a stock that gets hammered no matter how the company does? This is now bordering on insanity. Im just about done with this bullshit. Its never going to change.
When was the last time Apple announced a product anybody got excited about? Last September with the tiny updates to the iPhone? 8 months ago? Really? And then you can’t buy it because you’re locked into some ridiculous contract for your old phone?
As the company’s innovations slow down, so does the stock price. 20% market share will seem like a dream a year from now when they’re closer to 15%. A marginal unimaginative update to the iPhone once a year is not cutting it.
So the Gartner report doesn’t count as “news” to MDN?
apple needs to just stop the lawsuits with samsung and others….people who own android phones are potential customers and sueing left and right is not good for publicity….here is an example my buddy has a galaxy s3…when he first got the phone it had universal search. however after the lawsuits samsung was forced to remove this incredibly useful feature. justice was served but now apple has pissed off a potential customer.
So we chalk you up as someone who is OK with thieves breaking into your house, who, when caught can just keep your property they stole because they just need to use your stuff? You do lock your doors, don’t you? What? You want your stuff back? So does Apple.
Why not just GIVE Samsung all of Apple’s intellectual property in the first place? After all, they will just steal it any way.