“Apple’s stock fell to $400 per share, hovering near that level in midday trading Monday following a pair of analyst reports that cast renewed doubts about the company’s growth,” Chris O’Brien reports for The Los Angeles Times.
“Trip Chowdhry, an analyst at Global Equities Research, also said Apple Inc. employees are expressing concern about the company’s direction and are leaving to work for rivals such as Google Inc. and Facebook Inc.,” O’Brien reports. “‘Lower Stock price is causing Apple to continue to lose employees to Google, LinkedIn. FaceBook and HP,’ he wrote. ‘Employee morale at Apple is low.'”
O’Brien reports, “Peter Misek, an analyst at Jefferies & Co., reported that merchants have increased inventories of iPhones, a sign that sales are slower than expected.”
Read more in the full article here.
“Apple, the world’s most valuable technology company, fell 2.7 percent to $402.54 at the close in New York, after earlier dropping as low as $398.05,” Adam Satariano reports for Bloomberg. “The shares have declined 24 percent this year, compared with a 10 percent gain in the Standard & Poor’s 500 Index.”
“Other than a new MacBook Air laptop, Apple hasn’t had a new product go on sale since last year, leaving investors and customers awaiting the release of a new iPhone and iPad, which may arrive later this year,” Satariano reports. “Apple’s profit fell for the first time in a decade in the most recent quarter, and analysts predict the slump will continue in the current period.”
Read more in the full article here.
MacDailyNews Take: FUD.
Related articles:
Apple is dead or something – June 24, 2013
Apple tumbles below $400 – June 24, 2013
How do Facebook and Google have a clearer vision than Apple’s. Google is all over the place and both Google and Facebook rely mainly on advertising revenue.
Because google seems nimble and willing to experiment. Apple feels like a fascist state that is good as long as you’re king of the world. When you’re not you begin to wonder what else is out there… Gotta keep it fun and a positive place to be, Tim!
What in idiotic anonymous coward post.
Apple has been a magnet for the most talented when it was the underdog of the world.
I’d like to know exactly WHO is all demoralized and stuff and WHO is jumping ship. I strongly suspect it’s NOT people with much talent.
Good riddance. Don’t let the do’ smack ya where the good Lord cracked ya.
Well clearly LinkedIn has this amazing vision … not.
You really can’t take anyone seriously when they make a claim like ‘Apple feels like a Fascist State’. I would suspect it is rather less like a fascist state than when Steve was alive so where is the evidence of the opposite? Oh of course you don’t provide any, now there’s a surprise.
Steve was a classic entrepreneur, a total PITA to employees. But he learned with time how to direct without being an overlord, which is one reason Apple is doing so well without him. Usually the removal of an overlord means the rats come out to play and wreck stuff. We only know of one such rat, and he got fired. (Forstall) Instead, we have a system at Apple that has obviously continued to thrive with surprisingly few glitches.
Yes, there have been plenty of glitches. I’ve pointed out more than a few myself. But the fact is that Apple is currently being kept under a GIANT MAGNIFYING GLASS if only so the rabid Wall Street Wolves can chew at Apple’s healthy limbs. I did point out that the current Wall Street is cannibalistic, right? Shaking rattles, swinging shrunken heads, chewing on brains (‘MMM! BRAINS!’), catching Kuru disease, going insane, and so on.
http://en.wikipedia.org/wiki/Kuru_(disease)
Some day GOOG is not Wall Street darling anymore, it will experience exactly what Apple going through, just wait and see. :).
GOOG is ripe for bubble popping. It’s all a question of perception.
Not so sure and I have a different point of view.
It was not long ago we read Apple stories on almost a daily basis for months projecting Apple will be a $1,000 stock.
Google will probably be the first American stock to reach $1,000 a share. Presently the pundits, tech writers, analysts, Wall Street, hedge fund managers and the media are ALL IN continuing the daily Apple negative perception mugging campaign to set the stage. Why, I don’t know, don’t agree with it and I believe they picked on the WRONG company.
But this is day to day reality now since the stock price tanked from $700+. The money they make every quarter, billions of cash, great products and vision, customer loyalty, sound company fundamentals — ALL seem to be ignored by fickle Wall Street.
So, your point is correct — perception is everything. Will it turn negative for Google and positive for Apple anytime soon? Believe Apple will lose that image fight right now.
It started with the N.Y. Times slamming Apple and winning a Pulitzer, if I remember correctly, then onto the Senate hearing on offshore tax avoiding cash, DOJ suing Apple for e-book practices and the limited court success of Apple suing all the patent infringers’ worldwide you don’t hear much about.
The Apple negative perception nuclear army is out there full force and looks like Google is standing pat like a neutral country in World War II. Almost immune from any criticism, concerns of data mining, poor products, Android market share but not market profits leader, et al. Unreal and disgusting.
While I HOPE YOU ARE RIGHT, a lot has to change in coming months.
Regarding the employee defections, what are the hard facts? Read the article from the El-Lay Times and not one defecting employee was quoted on record or deep background anonymity. Reads more like Hollywood gossip columns and MEDIA FUD to me.
Google won’t be the first American stock to reach $1,000. Berkshire Hathaway passed $1,000 many years ago.
For each of the three shares
Missed that one, thanks Ace.
Google will probably be the first American stock to reach $1,000 a share.
Yeah, but what does that really mean? They never split their stock so BFD. If Apple had never split their stock they’d have already beat $1000 a share several times over.
…continuing the daily Apple negative perception mugging campaign to set the stage. Why, I don’t know.
I’ve theorized on the Apple Bear bullshit all year. I’ve come to the conclusion, after watching most other companies decay in FAIL mode, that I don’t care. With time the masks will all fall and reality will set in again. We’ll get to check out the corpses on the battlefield after its all over. I fully expect Apple to remain at least a vital contender.
And yes, this article sounds like the SOS to me. Herd the sheeple with FUD. Propaganda is an ancient art. Again, the masks eventually fall off. Kick the corpses to be sure they’re dead. Blahblah…
Agree, Apple will remain a vital contender.
However, the FUD and sheeple propaganda perception campaign is NOW in full swing.
Fingers crossed, Apple. Kick some arse!
Apple’s worst manoeuvre would be to join the wolf packs and play their games. There shall be major arse kicking from Apple in store, have no fear. All in good time.
One big difference, and we see it almost every day here. Apple continues to quietly make great products. It operates in secrecy and seldom blows its horn. Google, on the other hand, is into everything. Hispeed wifi for cities, balloons that may change how we connect, streetview, iGlasses, cars that are run by computers, social networks, Google Earth with Ocean and Sky. These things are interesting, indeed exciting. I know a lot of Google employees and Apple employees. They are all brilliant, both only hire the best. But Google has presence everywhere, Apple is a closed shop. Thus AAPL $$400, GOOG $869. Not better, just more interesting. Ok, start the attack fan children.
And more evil.
Also, Cupertinojoe… Compare apples to apples…
Market cap: AAPL $378B vs. GOOG $288B
P/E ratio: AAPL 10x vs. GOOG 26x
And the big one…Income derived from:
AAPL: sale of great products to informed customers
GOOG: sale of its uninformed customers to its advertisers using crappy free products as bait
Botom line: AAPL good, GOOG evil
Your right, Apple success is built on selling premium products. For the last 5 years if you had the iPhone you had the best.
Yesterday Which? magazine in the UK wrote a rather scathing report claiming the iPhone 5 is “the slowest” of all premium phones.
Daily Mail headline is ‘Rotten Apple’ and its the main story of the dailys in the tech sections across the UK.
Apple, you cannot launch the new iPhone and not be the fastest or the best.
Fingers crossed.
The daily mail is a newspaper aimed directly at UK’s evil middle class
And of all of those Google examples that you list, Cupertino Joe, how many have actually amounted to anything? What has Google done well beyond search (which it has corrupted) and maps?
Smells like F.U.D.
Exactly,Chowdry and Misek, prime FUDsters. MDN why do you reprint this garbage? You’re just doing their work for them.
Uh, pay no attention to the rest of what is happening with the stock market at the moment, okay?
Stock does not the company make. Wall Street can cave and Apple will still be producing and selling worldwide.
News Item: The world does not revolve around Wall Street.
Let’s HOPE the world does not revolve around Wall Street, which is currently a collection of rabid wolf packs, afraid of water, only interested in its own cannibalism.
Hydrophobia.
Scariest movie I ever saw…Cujo
Check out ‘Carnival of Souls.’
The book is better, which is typical with Steven King stuff. As such, no way am I going to watch ‘Under The Dome’ on TV. I’d rather go watch ‘Village of the Damned’. What happens under THAT dome is much more insidious. 👿
‘Village of the Damned’ is one of the scariest movies ever made. Yes indeed, great choice.
‘Dementia 13′ is also worth a look for historical benchmarks, directed by Francis Ford Coppola his first mainstream movie after a few porn flicks.
’13 Ghosts’ is also a 1960 campy classic.
And don’t forget ‘Carnival of souls’ which is really scary. Dan Dan Aykroyd classic line.
Enjoy.
Wall Street singled out Apple, while the entire market sell-off. The conspiracy right there, has anyone seen it?.
Just keep making the best products on earth and screw wallstreet.
What are the facts and says who? Many of these stories turn out not to be true and are usually driven by the shorts.
I’d like to take them by the shorts and twist and twist and twist…
Bloomberg has been running lots of FUD articles against Apple lately. I don’t recall this author saying even ONE good thing about the exciting product announcements made at SWDC a few weeks ago. Talk about a BIAS. Eg, That new MAC Pro looks friggin AWESOME. I WANT ONE – NOW!
Let me add this, however. Under Jobs, Apple kept BUZZ going strong throughout the year with press events and product launches in many/most quarters. But last year, it seems Apple tried to concentrate all their launches into the Fall quarter. That hurts the brand IMO, as it appears Apple is not exciting and innovating at a competitive pace during the remainder of the year. It allows the naysayers to attack.
What a bunch of made up FUD. Just another excuse to knock Apple’s stock price down without any facts whats so ever.
AAPL has been rising recently and so wall st bozos and financial anal-ysts decided it was time to knock AAP back down.
This is the Obama economy, where government spends every nickel there is plus a few trillion more every year it creates with Federal Reserve magic dust. The private economy is destroyed along with the lifetime investment portfolios of millions who saved, while the Federal government spends $160 million for a two week vacation by Obama to Africa. Apple can go to $0 if the Obama economic policies are allowed to continue. A massive welfare state for anyone in the world who can get here all paid by the increasing taxes on the few who still have the motivation to do a job. That number is shrinking. I am about to give in and go get my Obamaphone, my student loan (that I won’t pay back), my mortgage that I won’t pay, an EBT card for all my food, free condoms from the taxpayers thanks to Sandra Fluck, maybe some free abortions for the women I decide to screw. In other words, I plan to become a Democrat.
I feel sorry for you. What a sad individual you are. All of that hostility is bad for your health long term so try and relax.
No, what is bad for all of our health is having a President who hates all that made America great, like freedom, private property, free enterprise. Obama prefers government mandated everything, government spring on all citizens (but not illegal aliens), government paid for abortions, and no military help for four Ameiricans under assault in Libya, who he left to die while he went to bed. Obama also likes to use the IRS thugs to target his political opponents, something I used to think liberals opposed, but now realize they like if it is their guy doing it. Obama is successfully destroying all that is good and you see the evidence every day in stock prices, in freedoms lost, in dead Americans, in tax audits of innocent people, in grisly abortion clinics where living babies are hacked up like beef in about her shop, and nobody cares.
What does Obama have to do with an apple employee morale problem? I really don’t care about american politics being I’m not american but your obsession with Obama is comical. He’s on your mind too much and you will develop some kind of health problem, like a brain aneurism or something. Ranting about Obama on apple forum is not going to help you. Relax and live life.
Obama is one stupid assfuck Kenyan shit.
Kent… you’re a douchebag.
Maybe you like a communist leading our country, who let his Ambassador die along with three others and ordered no help be given. Maybe you like the guy who promised to cut the deficit in half adding 1.5 trillion dollars to the deficit every year. Maybe you like 10% real unemployment with 40% unemployment in our cities. No – you are a clueless idiot. By then you voted for this asshole.
Go to Brietbart.com
The slacked jawed, wall-eyed “readership” will welcome you with open arms.
I see you didn’t read my post as I clearly stated I’m not american so how could I vote? Is it Obama’s fault you lack reading comprehension too?
Kent, many of us who come here to worship at the altar of Apple don’t live in America and don’t give a flying fuck about American domestic politics. Just as I’m sure you wouldn’t give a FF about our domestic politics. Go find a political forum and fire away to your heart’s content there.
Good question, .me. Whatever country you come from is probably infected with the Obama disease, Communism. All of Europe is practicing wealth destruction through high taxes and government run welfare programs and pension and health programs. These are all non-sustainable actuaries and are actually bankrupt. Europe is presently only held together by Germany subsidizing the non productive countries. Japan is about 18 months from a massive currency collapse due to decades of its central bank monetizing debt, the same QE policy we have had for now about 6 years.
So, Apple employees and most poster on this board voted for Obama, which means you voted against capitalism. So don’t cry when the stock price of Apple craters, because that is what you voted for. You .me probably voted for this in your own country. Apple will go to $200 before year end if Obama successfully pursues his “energy” policy which is simply putting coal companies and large manufacturers that use lots of energy out of existence. Why? Because Obama wants coal companies and their power out of existence. He stated this during his first campaign.
Get used to it. There will be no happy economic news for the next five years. Socialism is about spreading misery, not creating wealth.
Kent, how’re you doin’? Can you breathe? Is there air inside your fact-free bubble???
Shut up Kent
Good point Flea! Today Onama attacked the energy industry. That is what fuels all global economies. Obama will destroy the US economy and the US influence will drag down the entire world economy. He hates private corporations. Apple shareholders – get used to declining stock for the duration of his socialist influence. All good things will be destroyed by this President. His purpose is to destroy America, which he despises.
@FormerNavalPerson
@Spanish Flea
Your both OFF TOPIC.
Why don’t you just make your on arguments disputing what @Kent has to say?
Answer: I doubt you have lucid arguments based on facts. So the dismissive put downs is all you have. Pity.
Firstly, dear Kent, I did not ask a question. Secondly, if you think you’re so smart and politically astute, why aren’t you running for political office with your manifesto instead of wasting your time here? I think we all know the answer to that! Oh, don’t bother with some smart-arse answer Kent, nobody here cares.
@.me — don’t speak for me!
Don’t go off topic sideshow questioning political views. He has the same right here as you.
You would do much better if you engaged counterpoint points of you. Content, got it?
“You would do much better if you engaged counterpoint points of you.”
Lots of Martinis tonight.
Correction: ” … counterpoint points of VIEW.
Good point. And I agree that Obama has zero qualification or actual authority to regulate power plants. His statements about global warming are less scientific than an episode of Pawn Stars. He is clearly an imbecile driven by stale communist ideology and raw power politics. But, he does have real power to destroy businesses and individuals, as with Michael Hastings, the journalist he had killed. Obama and his Chicago thugs will wreak big damage in all areas. They are like arsonists. No creative power – just destruction.
If you work at Apple and are in low morale about your employer then fuck you. Most people hate their jobs and if you’re feeling sad because you work at Apple right now, then perhaps you should take a long walk off a short cliff. Hell, cleaning the toilets at Apple is probably more preferable than 90% of most jobs.
Looks like bullshit to me. I didn’t see the name of a single reliable source of information. Rumor based on conjecture fueling additional rumors. I say hogwash. I’ll keep buying.
Lame. The WHOLE market is down. Who cares. This is meaningless.
People who actually follow Apple closely are actually very very excited about what’s coming next. There are rumors of a new low-cost iPhone, an iPhone 5S, a retina iPad mini, and an iTV, but nobody knows what it’s going to be. What we DO know though is that there hasn’t been a lot of Apple hardware news in a long time. What that means to feeble-minded analysts is that Apple has lost its innovative touch. But what it means to the rest of us is that the hardware teams have been working on something for a LONG TIME, which means it’s going to be significant.
Google’s glasses is only prototype but it screamed and yelled to the whole world to know, Apple needs to do the same, shout-out-loud whatever hardware they are working on. The whole world is waiting.
Screaming out to the world is childish behavior though. Like a diva sport star who thinks that a few amazing dunks or crazy shots makes him the greatest thing ever but never learns to play good defense. In the end, his team tanks in the playoffs because of lack of cohesion.
Making prototypes is only part if the process if being a great company. Google has one product that it hinges on for its bottom line, and although they are perceived to have no real competitors in search, they are still vulnerable standing there on that singular leg.
Except – that would go against EVERYTHING that has propelled Apple to success in the past 12 years or so. Don’t you remember all those mp3 players and fancy phones being shown everywhere – plenty of interesting concepts were floating around, but Apple took their time and got it right. When they showed the iPod and iPhone, they were just about ready to ship. Do you remember when Microsoft declared the Slate PC was the future . . . they got there first but they got it wrong, and again Apple took their time and many years later got it right with the iPad. I mean how many times do they have to do this over and over until folks understand? They ARE going all in – they ARE placing big bets, but before they allow themselves the fun of the gee wiz look at this amazing gadget introductions, they are doing the hard work and figuring out how to manufacture the products. They are building the whole ecosystem so that when they say “We did it” – they can also say, “And here it is”. I think they showed the new Mac Pro just to calm folks down a bit, but also just so Phil could say, “Can’t innovate anymore my ass” I suggest putting money in Apple stock and waiting, then when the new stuff comes out this fall (and it will come) you can get yourself some nice hardware with the profits from the stock.
The problem is rumor running every where like wild fire, sooner or later it will get into people’s heads. Problem is no one knows how to stop it including Cupertino head quarter is paralyzed as well. Obviously, they wanted to bring down Tim Cook or Apple either ones, I supposed.
Apple should just buy back its stock and go private. Wall St. is nothing but a casino, and is no reflection of the real world economy. If the financial interests succeed in driving out Tim Cook, it will be a sad day.
It can’t go private. Quit.
If Apple does go private , plz make the price at 706 , so all sad shareholders can be happy .
How about paying apple retail employees a fraction of what they generate to the company??
Oh Boy, tomorrow will be another bad day for the market as of “Asian shares drift lower, focus on China liquidity”.
Hopefully, there is light at the end of the tunnels rather sooner.
Nothing to see here. Pure speculation from anal-cysts trying to make a buck.
Lemmings galore posting on this story. It’s not FUD folks. Get over yourselves. This company has tanked and it won’t right itself under Tim Cook. End of story. I’m right and blind Apple followers are wrong. It is what it is.
Odd is it that a company that posts record profits in the history of the world is dying.
Dude…. don’t EVER run a company. You = idiot.
So Jay, why are you here if Apple is such a loser company? Surely a person of your good taste and commercial acumen wouldn’t be hanging around the forums of such a loser company would they? No, not unless they were on the payroll of an Apple competitor, paid to post negative comments about Apple. You are what you are – a dickhead!
Samsung $1 paid army to bash competitor.
The big boys trying to manipulate your mind.
Just like they manipulate stock prices.
They will try to push the stock to 250 then buy it all up again.
I personally know three different people who work at Apple in Cupertino.
They are very happy indeed, thank you very much.
Keep sending those social re-engineering briefs to the Supreme Court, Tim! Offending 50% of the world is apparently good business!!
Stock price does not have anything to do with employee morale. Who is this jerk? He does not know anything about Apple and the people who works there. People at Apple are extremely proud that they work for Apple and not for Google or any other company. (Been there and stopped working there only because of family reasons. Enjoyed every minute and every hour.)
This “reporting” wouldn’t pass a freshman level writing class. The headline hinges on two unsubstantiated claims based on selected and unreliable third-hand assertions regurgitated by “analysts” who seem not to have done a shred of independent investigation. Trip Chowdhury’s claim that morale is low is supported only by the word of a single unidentified recruiter. And, Peter Misek expects us to believe him when he tells us that his previous estimate of 110 million iPhone 5 sales was way off and this time he’s right when he predicts 85 million. Yeahrightsure. Misek’s track record on Apple predictions has attracted some attention, and not in a good way. (http://www.cultofmac.com/215736/a-history-of-horrible-apple-predictions-from-peter-misek/)
Finally, Satariano reports that Apple is a “whipping boy of Wall Street” but fails to examine the implication that Apple is being punished for the bad behavior of others.
And we wonder why Wall Street is such a mess.