Apple (AAPL) shares are taking a beating in early trading on NASDAQ this morning. Currently, shares are trading at $22.82, which is down $1.50, or 6.2% from the previous close of $24.20, on share volume of 3,207,726. More info
here.
“‘Overall, they’re well-positioned going forward,’ said Shannon Cross of Cross Research/Soleil Securities. ‘The 20th anniversary of the Mac is coming up and it’s hard to believe (CEO) Steve Jobs will let that go by without some announcement or iMac upgrade,'” Rex Crum reports for CBS MarketWatch. Full article here.
Sweet. Time to start buying again.
Exactly. Doesn’t anyone realize that Apple sold almost as many iPods last quarter as they did all Macs combined? That’s astounding when you think about it. I wonder if we’ll see a quarter sometime soon where iPod sales actually outpace the total number of Macs sold.
Profit taking always occurs after a company announces good results for a quarter. It’ll go down, then it’ll head back up. Wonder what Billie Ray Valentine might say about purchasing Apple stock right now.
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Always best to sell on the buzz and not on the reality. ;o)
The people who made the money sold the stock before the conference call. ;o)
Yup. Shares rose about $4.00 prior to earnings report. Profit taking going on. Intel also had a good quarter and stock went down. About a month ago Apple was around $19.00. iPod sales will definately outsell Macs when HP’s branded version comes out this summer.
I bought into Apple at a little over $12/share less than a year ago. If ithe stock keeps growing (current target $29), my profit will buy my next Macintosh. Pretty cool…
This is the way of Wall St. Buy on the rumor, sell on the news. One should ignore these day to day movements unless you are a day trader.
Market’s reaction not that strange
http://money.cnn.com/2004/01/15/technology/techinvestor/lamonica/
Wall Street knew there was no way that Intel, Apple and Yahoo! would miss their numbers. The key question was by how much they would actually beat them. It appears that “whisper numbers,” that bizarre phenomenon from the late 90’s bubble is back with a vengeance.
It could just be day-traders and others doing profit taking. Investors are jumpy these days.
Nothing to see here.