“U.S. stocks closed mostly lower Wednesday as Apple Inc., the largest U.S. company by market cap, tumbled, but the Dow Jones Industrial Average bucked the trend thanks to Boeing Inc., which soared on robust earnings,” Sue Chang reports for MarketWatch.
“The S&P 500 SPX, -0.17% slipped 3.73 points, or 0.2%, to end at 2,139.43, while the Nasdaq Composite Index which is heavily weighted toward technology names, fell 33.13 points, or 0.6%, to finish at 5,250.27,” Change reports. “The Dow Jones Industrial Average rose 30.06 points, or 0.2%, to close at 18,199.33.”
“Apple retreated 2.3% to $115.59, notching its biggest daily percentage loss since Sept. 9. Investors punished the stock after the iPhone maker posted quarterly earnings that slightly beat expectations and revenue that was just shy of forecasts,” Change reports. “Investors also may have been disappointed that the tech giant’s projections for the current quarter weren’t more bullish. Analyst Amit Daryanani at RBC Capital Markets LLC believes the selloff will result in an attractive entry point for investors to buy Apple given that the company’s fundamentals remain intact.”
Read more in the full article here.
MacDailyNews Take: The world is full of fools and, therefore, profit potential abounds for the cognizant.
SEE ALSO:
Apple’s cash hoard swells to record $237.6 billion – October 25, 2016
MacDailyNews presents live notes from Apple’s Q416 conference call – October 25, 2016
Apple beats Street, services revenue grows 24% to all-time quarterly record of $6.3 billion – October 25, 2016
“The world is full of fools and, therefore, profit potential abounds for the cognizant.”
Seems this happens after every quarterly report whether Apple gains (as they have for the last 15 years) or not. Can’t win no how!
Jim Cramer went on a great rant, tearing market analysts a new one and defending Tim Cook.
Analysts disliked TC, AAPL forever undervalued.
Tim Cook is facing the end of the road. He has mismanaged Apple right into the ground.
No offence, but you appear to be an IDIOT.
Let’s see… Apple beats the Street and the stock goes down. If Apple fell short of what the Street expects, you know it would go down as well.
Seems to me the Street is as corrupt as the swapy cesspool in Washington. Or that the majority of investors are mouth-breathing knuckle-draggers of very low IQs.
and about all of ’em are Hillary Merkel donors.
Nonsense you drooling idiot. AAPL beat the street last quarter and popped up for +6.5%.
Investors are hammering AAPL hard because of the poor numbers from this quarter’s report.
An attractive entry point for Apple is $113 a share, but an attractive entry point for Amazon is $830 a share. The entry point for Amazon is far more attractive because any investors are nearly 100% sure Amazon stock will continue to rise each day, week and month. They all believe Jeff Bezos is a genius. Buying Apple at $113 a share is a risk and the likelihood is by next week the stock will be down another couple of percent. They all believe Tim Cook is an idiot. Apple is nothing but a value trap for new investors. Lots of promises and little to no share gains.
I certainly realize Apple will continue to thrive and with that mountain of cash, the company should be around for a long time to come. I’m only saying that with what Apple has in terms of reserve cash it should be doing quite a bit better in terms of boosting revenue. I don’t have clue where the company is headed because nothing it does makes much sense to me.
Cramer is wasting his time ranting about how Apple should be worth more due to services and such. It’s obvious Apple isn’t being valued for services because it’s known as being the iPhone company. Low iPhone sales means low Apple value. Nothing can change that in investors’ eyes. Apple dug its own grave as far as shareholders are concerned. Can a company simply rely on two year supercycles for a single product? It just doesn’t seem likely.
@macnificent
Couldn’t agree with you more. Apple fans on this site choose to ignore the fact that Tim Cook has done nothing but screwup for 6-straight years.
Even though he has caved the stock, ignored the Mac line, botched every launch, caved to shareholders, plunged the company into debt, fired great talent and hired expensive and horrible execs, failed to innovate by creating worthless and laughable products… They still believe that all is well with Apple.
I know, I mean if there were any justice Apple should really be the worlds MOST VALUABLE COMPANY by now, right? Oh wait, it already is and you’re a RETARD.
MDN, ignoring the 28″ surface studio like champs. 😀
Sorry we saw it.
Apple better have a good reply……