Shares of Apple Computer (AAPL) are down $1.06, or 2.62%, to $39.47 per share on heavy volume of 26,772,602 in morning NASDAQ trading.
NASDAQ Apple quote (15-minute delay) here.
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WHAT THE F*$K IS GOING ON?????
I don’t get this. Are so many investors so STUPID as to believe that a little news from Apple’s competitors will jeopardize everything that Apple has so far achieved?
I’m convinced that too many stupid people own stocks now-a-days.
Patience, it seems, is a virtue fair weather investors lack.
Institutional investors buy and trade in mass quantity when stocks move by a few dollars. These big trades move the price.
Fair value will be restored but it takes time.
Have faith in the power of the people, the dollars they are spending on things Apple will eventually be recognized by the Street as “a good thing”.
I said this yesterday, the brokers have decided to cash in. They do it in collusion – as a result a lot of shares are sold which causes the huge change in value.
There is no rhyme or reason why the stock should be sold – except for someone to make maoney out of the recent price increase.
1 or 2 weeks ago, a broker said now was the time to take profits – looks like everyone in the trade joined in.
For weeks there have been articles on how Apple is overvalued. This may just be profit taking or an adjustment in the market. No big deal. There are ups and downs so relax.
Stocks go up, stocks go down. It’s not reflective of much in the way of science, for sure.
Compared to other stocks, AAPL is a bit overpriced. However, there’s much on the horizon that could put more air back in the stock.
Mac mini sales results
iPod shuffle sales results
iTMS sales results
Mac OS X “Tiger”
Final Cut Pro 5.0 (NAB?)
Lower prices on iMacs, PowerMacs
G5 PowerBooks/dual core G4 PowerBooks
Continued increase in Mac sales above industry norm
PowerBook mini
See? Take your profits and take a breather. Everyone else is doing it.
Tera Patricks
Mac360
It’s time to buy, buy, buy…
Now is the time to buy at reduced prices…. the stock will easily earn back these losses in a short period of time. If you’re in it for the long term, these temporary dips have no real significance.
I just bought more this morning and I will probably be buying tomorrow as well.
Have faith… and patience.
Wait a short while, and when it starts to show upward movement again, get in quick. Think of this as a buying opportunity in waiting.
I am in for the long haul and bought in at relatively low prices so this doesn’t worry me much. As was mentioned Apple will have a string of good results coming and that will probably push it back up. Apple took a while getting all the pieces in place but they are just clicking together like mad right now and I predict even more over the long haul.
AAPL has hit its support at just under $39 twice now, and is in the process of looking like its going to bounce of it yet again. If it goes lower than $38.25 then personally I’m a seller of half my 5000 share position until it stabilises. The next meaningful support if there’s a run on the stock is at $31.50.
I know it sounds like heresy to say this, but AAPL isn’t protected by a magic cloak – or a reality distortion field. Once it breaks key support levels – in this case the 50-day moving average, and the february low of $38.25, there’s nothing to stop it for a long way down.
If it bounces off this level and closes higher the next couple of days in a row, its probably bottom’d out and will stabilise at these levels until the next quarterly earnings report boosts it higher again.
yes, it’s overvalued.
THe market is adjusting it to it’s correct value. so what.
For me, $40.00 was the magic number I had been waiting for. My buy order went in when it was at $39.10 this morning.
Brokers are a bunch of lemmings…
They think little and react too much.
iSteve – overvalued on what basis? For a start, you’re probably wrong. Any company that is growing at Apple’s pace deserves to have a stock at these levels. But it did go up very fast, and when it does, those who enjoyed the ride look for the lightest sign there might be weakness to jump off, at least for a while. That’s where we are now. Its a repeat of what happened in December/January, before Apple’s last set of results and when the new models were announced. No panic necessary – unless it goes below $38.25
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It’s the lawsuits people. They’ve been making the news…
post split profit taking. move on.
Max, you are the voice of reason.
Oh yeah, I just bought a 1,000 shares
or was it 10,000 shares
or was it 100,000 shares…
Where´s all those geniuses here that were bragging about buying yesterday and last week at bargain prices (and now are losing money)???
Remember a 10% drop takes more than a 10% gain to make it up.(Ex: $100 drop 10% = $90. To get back to $100 takes a rise of not 10%, but a little over 11%….)
Wait I just bought some more!!!
I heard Steve sold a bundle of stock, sending it down. Apple’s about to fold! The Cell processor won’t run OS X. Real and Napster are taking over the music market and online music prices are going up. Apple is about to fold. A mega-volcano is going to erupt in the next 1000 years if an asteroid doesn’t get us first. Maybe both. Apple is going to fold. Global warming. War.
Or its post-split profit taking. The stock needed to adjust. It’s probably ok to start buying again now. Although you’ll need that money in your pocket for the end of the world…
The selling is due to three things: 1. Post spilt profit-taking 2. Sony’s new product and 3. Lawsuit news. All three are short term and in the minority of investors. Wait a couple of months for: 1. 2Q earnings report 2. Poor sales of Sony product and 3. Lawsuits proven invalid. So relax and buy some stock if you have the money. Just wait for Tiger, PowerMac at 3 GHz, Powerbook G5, and larger market share chunk of flash-based players.
The selling is due to three things: 1. Post spilt profit-taking 2. Sony’s new product and 3. Lawsuit news. All three are short term and in the minority of investors. Wait a couple of months for: 1. 2Q earnings report 2. Poor sales of Sony product and 3. Lawsuits proven invalid. So relax and buy some stock if you have the money. Just wait for Tiger, PowerMac at 3 GHz, Powerbook G5, and larger market share chunk of flash-based players.
Genius Stockboys,
Wise stock buyers also know that investing in stocks isn’t like gambling. If you invest, you should invest for the long haul unless you like to play the odds, in which case you are a trading hedge funds or day trading.
Do you think Warren Buffet acquired more a net worth of more than $25 billion by panicking everytime a stock dips. The reality is, stocks have ups and downs, but it’s whether the stock goes up in the long term. By long-term, you are often looking at 1, 2 years or longer.
AAPL is still a good buy in my opinion, but it’s high valuation simply gives cause for a lot of people to take money off the table. The reason for this dip (purported “competition” from Sony and Napster) is facetitious, and I predict the stock will bounce back into the 40s next week once investors realize Sony and Napster still have nothing on Apple.
For the best return on your money, nothing beats stocks, but just like buying a car, you still need to do your research and shop for the best prices at the best times.
NewType: “I predict the stock will bounce back into the 40s next week “
Wow! brave call – it´s only 65 cents from $40.
1 Buy Low & Sell High- everything in-between is just a distraction.
2 Value is not a set price- it’s what someone will pay for something.
3 A stock market is not a casino.