TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer said when it comes to the recent Apple Inc. pullback, all you have to do is wait out the sellers:
We downgraded Apple to a “2,” because we knew that there… were too many people talking about a supercycle.
You know, when you have these sellers that come in, all you’ve got to do is wait them out. And one of the things I learned as a hedge fund manager… patience is a true virtue.
Wait out the sellers. – Jim Cramer
Direct link to video here.
MacDailyNews Take: Buying opp? We’ve love to see some sub-$140 action during the dog days of summer.
You want to be greedy when others are fearful. You want to be fearful when others are greedy. It’s that simple. — Warren Buffett, October 1, 2008
I’m quite happy with the WWDC announcements (except for a few points) so I’m going to wait this out.
among other ‘gee whiz’ things, Apple getting serious again about the Mac is a positive sign as Macs are Apple’s second largest hardware money maker (it makes almost twice Watch, TV, AirPods, Beats , iPod and the rest in the ‘other products’ category COMBINED). With less than 10% worldwide market share there is room for Mac earnings surprise in the future
something which analysts who like ‘glam’ like Google Glass don’t notice. In the recent downgrades analysts basically didn’t talk Mac at all… .
they also don’t notice that with Apple’s huge cash flow they can keep pulling ahead in R&D vs it’s ‘commodity no profit ‘ rivals like in the A series chip tech. If Apple figures out things like the Watch diabetic sensor it might be big.
If this AAPL “bump in the road” is unnerving for a buy-and-holder, you’re wading in the wrong pool. Sure, UP is always the desired direction, but this decline is a mere interruption.
As we can see, Apple stock is again dead in the water supposedly due to its cyclical product cycle and almost nothing else to pop the share price.
It really appears Apple doesn’t know how to acquire companies to excite investors. Would someone please tell me how Jeff Bezos and Amazon always seem to make the right moves when it comes to acquisitions. Honestly, no matter what company Apple intends to acquire it’s always met by investor and Wall Street’s negative criticisms, boo’s and a nice healthy share price DROP. Whenever Amazon makes an acquisition, everyone is ecstatically happy and Amazon’s share price jumps up like a Saturn rocket.
Why is Amazon always making the right moves and why Apple never makes the right moves to excite investors to lift the share price? No one ever questions Jeff Bezos but if Tim Cook tries to do something all he gets is hateful criticism. I just don’t get it. Amazon is going to pay $13B in cash for Whole Foods as though they have that much money to spare. Apple spent a measly $3B on Beats and was met with a firestorm of negativity. Is Jeff Bezos really that smart or is Apple’s management really that stupid?
Amazon’s big investors are never fearful and always greedy, so Amazon’s stock keeps flying higher and higher. Jeez, it seems Apple was at $155 a few weeks ago and now look at the turkey swoon at around $142. With all the wealth Apple has, it’s volatility seems to be getting worse than most tech stocks on the planet. So much for having a moderate P/E. It sure doesn’t decrease Apple’s high volatility.
Before today’s news about the WF’s purchase, I often thought of Amazon with the ring of Steve’s words about MS…”they just have no taste.” When you’re like Amazon and making a jillion and a half, who cares. But, Amazon also reminds me of Dell when they were the charmed…they were excellent guardians of their numbers, both speeds/feeds and balance sheets, but their products weren’t necessarily the lauded item. Take today’s news away from the equation and Amazon, isn’t that much different. Yes, Jeff flies rockets and makes interesting clocks in the desert and stuff, but Amazon seems more about capturing me as a consumer than offering something of import. Obviously Apple wants to capture me as a customer, but through enticing inventions, not just a faster/niftier way to consume.
Yes Jim!
According to at least one story, the sell-off was triggered by the utter bullshit story by Bloomberg L.P. regarding 5G technology whereby they pretended ANYONE was going to be 5G ready in 2017 (or 2018 for that matter), when in fact that’s utter NONSENSE. Seeing as Apple does not sell vaporware, they are not pretending they can perform impossible magic and stuff finished 5G chips into the new crop of iPhones for 2017.
IOW: Apple tells the truth and because of stupid morons (yes you are!) at Bloomberg, AAPL gets dumped.
MOO! MOO! MOO! said the cow herd.
🐂🐂🐂🐂🐂🐮🐮🐮🐮🐮
SELL! SELL! SELL! said the techTard herd.
🙃🙃🙃🙃🙃🤡🤡🤡🤡🤡
AAPL sell off was backroom plan & event date coordinated by major hedge funds following Trump run up and political collapse. Wall Street collusion via program trading that no one can do anything about, always been that way in one form or another, will rebound and all is forgiven.