“U.S. stocks fell on Tuesday as Goldman Sachs Group Inc’s quarterly results and comments about its business outlook fueled further uncertainty about the prospects for the financial services sector,” Ellis Mnyandu reports for Reuters.
“While Goldman Sachs, the largest U.S. securities firm, reported earnings that topped forecasts, it said it was cautious about its near-term business outlook, saying the subprime market hasn’t yet reached bottom,” Mnyandu reports.
“The Dow Jones industrial average .DJI was down 59.91 points, or 0.45 percent, at 13,107.29. The Standard & Poor’s 500 Index .SPX was down 7.96 points, or 0.55 percent, at 1,437.94. The Nasdaq Composite Index .IXIC was down 18.75 points, or 0.73 percent, at 2,555.71,” Mnyandu reports.
“Investors fear that the credit crisis could hamper lending to businesses and consumers, compounding the outlook for the economy as the housing market deteriorates. There are also growing fears about the specter of rising inflation,” Mnyandu reports.
“Concern that business spending could slow hit shares of technology bellwethers, including Apple Inc. whose stock declined [2.41% to $179.96],” Mnyandu reports.
Full article here.
As I write this, Nasdaq is – 0,35% but AAPL is – 2.41%!
Where’s the connection?
So What!
These guys never give up trying to spread fear. This who credit mess is the fault of the greedy lending institutions and the stupid mortgage borrowers that don’t read the fine print that explains what’s going to happen when their variable rate mortgages turn into pumpkins.
I say bah-humbug let them choke on their greed.
So What!
These guys never give up trying to spread fear. This whole credit mess is the fault of the greedy lending institutions and the stupid mortgage borrowers that don’t read the fine print that explains what’s going to happen when their variable rate mortgages turn into pumpkins.
I say bah-humbug let them choke on their greed.
wow the short sellers say the bottom is not in yet
record profits but al doom i tell you
ha I am buying this dip big time !!!
Let’s hear it: buying opportunity! Last chance to get AAPL below $200… er, $190… now, $180…
Attention Mr. Jobs: can you take the stage this afternoon, please. We can’t wait another 30 days because we won’t have anything left with which to buy the new stuff.
F’ck it, lets all make a run on the banks and get our cash out.
That’ll teach them to lend money on collateral free loans.
Buying opportunity! — I’d call it a, Stealing opportunity!!!!
@Gavron – A stock’s price does not change merely on “news” or the movement of its broader index. The big market traders follow many “indicators”, including some esoteric ones such as Elliott Waves, Fibonacci ratios of both time and a stock’s price, etc. There are plenty of trading web sites and books available to find out more.
Ordering 1k shares.
Nothing like an analyst to whip-saw the market, tell people what to think. Maybe I’m missing something, but I thought the point of the market was individual investors, not some emperor telling it which way to go.
George Soros,
I know.
Perhaps I wasn’t being clear.
I meant the connection which MDN implies in its headline.
Wall Street didn’t fall?
MDN: are you making storeis now?
Uh… According to Google, The Dow Jones is +11 today and the NASDAQ is +13. What’s with the story?
@ alansky
the market went down for a while and recovered later but AAPL still down. though it’s better
No big deal… The bulls are waiting for next year. Iʻm waiting for MacWorld Jan 15, ʻ08… itʻs good for AAPL to be going sideways or slightly down prior to huge news events and earnings.
the stock will not drop below 150 again… so 179… no problem. itʻs trading in the low 180s as i type this.
The ride was quite a thrill! Many people got that sinking feeling in their stomach. From $187 to $178 and back to $185 (where we’re at now), and the day is still not out. Even worse for those who are holding the underlying options, especially December and January calls…
It was nice to ride the Apple wave during the spring (and autumn as well). Some of its runs this year were incredibly impressive (from $80 through $150; then back to $116 and up to $190s, with another retreat to $150s, back to the mid $190s). We’re now suffering from the damage done by extremely irresponsible banks. It will go away and we’ll soon again be seeing that Laura Goldman quote.
AAPL may drop some with the rest of the pack, but Apple is clearly ahead of the pack. Therein lies the long-term investment opportunity.
Everything is all right with glossy screens of course, until you realize one day you now need glasses because of them.
The stock market still freaks out if Alan Greenspan farts. It will probably collapse when he dies. Bunch of knuckleheads.
The Wall Street fund managers have to book profits from their winners in order to get their performance up to get their big bonuses. They are all competing with one another on the sell side at the end of the year, concentrating the best stocks. They get no credit for just leaving the stock alone. This places their interests in direct conflict with their customers’ interests. Guess who gets screwed. I do not scare out of my AAPL positions. I buy and hold long term. Fsck Wall Street. Not too long ahead, the AAPL bulls will trample the bears.
Want to see why Apple is currently being sold?
1)If you Google – Dow Theory – you will see one of the basic parameters of stock market theory.
It will tell you that when both the transport stocks and the dow break down, it is the start of a longer correction in the market.
2) If you have access to basic charting software, some technical indicators are pointing to momentum dropping, money flow out, and the MACD giving selling signs.
3) When an industry like women’s clothing has a problem, no other industries care. When an industry group like banks have a problem, everyone cares because they loan out money to keep economies going.
4) When the European bank put in 1/2 a trillion dollars last night, that is not a small deal..that’s a big deal…the good news is they did it, the bad news is they had to.
5) When your unsure, you lose confidence and the overriding principle or mood right now is low confidence. Without confidence, the markets go lower.
6) The good news is Apple is a tremendous stock. The bad news is, when markets go down like in Feb, July, and October, Apple drops more than the averages but surges higher more than the averages on the way up.
SO company performance does not always equal when a stock surges, and the value of a share in the market does not go up every day just because Apple has more money in their bank account for the shareholders.
Great stocks have a higher volatility rating than market averages. You are watching it ‘live’ on your stock monitor each day. Higher volatility vs. lower volatility.
Hope that helps connect the AAPL to the S&P500;for you. If not, sorry I tried to help.
Come on we all know the Apple stock pattern, a drop is good. It means some of us can afford to buy in. Apple will be pushing 300 this time next year. Don’t be surprised if it around 500 by 2010. But what do i know.
Wall St Sage
Yes – if you buy at a certain price and it goes down, and you sell, yes you’ve made a loss.
Just leave your money where it is, it will climb up again. You can’t expect a stock to just go up and up and up.
Apple 4-6% of world market = 180-200$ a share
MS 94-96% of market = 24-26$ a share
Maybe that’s the wrong way to illustrate it. you do the math
“Maybe that’s the wrong way to illustrate it. you do the math”
It’s always the wrong way to illustrate it. It shows a really Naive understanding. Stock price is just a number. Apple could split tomorrow and the price go down to $90. they could reverse split and the price go up to $360 with no change in relative value.
What’s more important is how much free cash the company is throwing off on a per share basis now and in the future. In this regard, Microsoft handily exceeds Apple today. The only way Apple is truly a better long term investment is if it manages to meet some pretty lofty growth expectations.