“A downgrade for Intel Corp., along with broad-market worries about weak growth in U.S. employment, pushed tech stocks to close with big losses Friday, continuing a slate of bad sector performances since the trading year began,” Rex Crum reports for MarketWatch.
“The action led a broad sell-off in the tech sector that tracked similar weakness across the market. The tech-heavy Nasdaq Composite Index fell 98.03 points, or 3.8%, to close at 2,504,” Crum reports.
“Intel (INTC) led the tech-sector decline, as its shares fell $2, or more than 8%, to $22.67,” Crum reports. “J.P. Morgan analyst Christopher Danely cut his rating on the semiconductor giant and Dow Jones Industrial Average component to neutral from overweight. In a research note, Danely said channel checks suggest that Intel experienced a slowdown in orders late in the fourth quarter that outweighed earlier gains the company made.”
“With Intel leading the retreat, other PC-related stocks also lost ground,” Crum reports.
Full article here.
MacDailyNews Take: Some may see this as an AAPL buying opportunity.
“I quit”
-Joe Biden
My cost basis is 13.32/share, if this were 2004 I’d have lost my whole investment and then some! Hard to believe I’ve held it just 3 1/2 years, it’s been one level of giddiness giving way to another.
Those of us who are in this for the LONG haul (and I mean 2018 and beyond) are unconcerned and I dare say a little relieved to see AAPL cool off a bit. Sometimes it’s good for a stock to have a few amateurs get scared and sell. Better that cooler heads hold the shares.
Just my 2 cents. Or after today, 1.85 cents…
hehe I’m typing this on my iPod touch whilst taking a dump. I wonder how many other posts are made from an iPod/iPhone whist chopping rope. Maybe this site should be renamed ‘MacDumpNews’
By the way MDN, can you please do something about your pop up adverts, very un-Mac like. Thanks.
@R2 and Not Fooled:
Get your heads out and above theses silly Reps and Dems stories! The whole system is build on non-everlasting ideas… just a matter of time for any empire to fall.
Nothing is LESS secure than monney… US$ isn’t an exception…
if the stock market were the only way to measure the financial health of this country, then the losses would be worth noting. If the unemployment report were the only way to measure, again, the losses would be worth noting.
Financial volatility goes hand in hand with how close we are to the media and events around the world in today’s communications age. 50 years ago, a factory closing in BLANK country would be a blip on the radar, reported a week later in the newspapers perhaps (perhaps). Today, everyone over reacts. The factory on the other side of the world is NEXT DOOR to your parent’s restaurant. OH MY GOD! The world is coming to an end!!!! Sell Sell! SELL!
Sell I say, take your profit.
This is why.
Apple has nothing “new”, in other words no new market to take over.
The iPhone is stalled because people really want a cheap low cost phone with little complications. The iPhone is a expensive and complicated smart phone. A nich of a nich market. It’s near done with little growth.
The iPod is near saturated, everyone bought for the holidays. It’s done for now.
The Mac line could get a refresh, but people buy Mac’s if they replace their old one. Nothing new can happen here, Windows Machines has Apple beat on cost.
So there really isn’t much to drive up the share. A rental service? Big deal? It makes more for the studios than Apple which makes money selling hardware.
The AppleTV sucks, no HD. Loading a iPod sucks because it’s too much work and too little of a screen, not to mention the slow USB connection and waste of hard drive space.
What is new at Apple? Nothing…
The stock will either tank because of the reccession, or stabilize.
Sell.
Hey “Stock man” how many AAPL shares are you intending to buy these next days? Typicaly, you try to influence for a lower buying price!
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PS And ho! One more thing: if AAPL sinks, others will be even lower anyway… Think of making some reserves of food…
Typicaly, you try to influence for a lower buying price!
Like there is enough coming to MDN to influence Apple stock…hahaha.
I’ll wait till it really bottoms out to begin buying again, not before a recession.
I’m just trying to give advice, the stock is going to tank. It’s just economics, nothing else.
What should make an AAPL shareholder lose sleep is the perception that Apple is a one-man show.
What happens the day Steve has a health crisis, and has to be away from Apple “indefinitely”? A severe knee-jerk market reaction is pretty nightmarish.
If Apple has a challenge, it’s grooming a worthy successor.
@stock man
[Apple has nothing “new”, in other words no new market to take over.]
-There are plenty of markets that need the Apple “spice of life” to freshen them up, don’t be so silly
[The iPhone is stalled people really want a cheap low cost phone with little complications.]
– The iPhone is not stalled, you foolish little boy, its selling like hot cakes to all OS users.
[The iPhone is a expensive and complicated smart phone. A nich of a nich market. It’s near done with little growth.]
-Now now childish one, as you probably can not do basic arithmetic, I will explain it to you in simple terms, the iPhone is, bang for buck a good deal.
-While the iPhone might be complicated to your paltry brain cells that obviously struggle to unite cohesively, for anyone with an IQ over … shall we say 30 it’s a cinch.
-The iPhone is almost king in the “smart” phone market and the market is changing, soon, last years iPhones will be the cheap commodity versions, so oodles of growth yet to be had – exciting, isn’t it?
[The iPod is near saturated, everyone bought for the holidays. It’s done for now.]
-Near saturated !!! … Oh, we wish my little jejune plaything.
[The Mac line could get a refresh, but people buy Mac’s if they replace their old one. Nothing new can happen here, Windows Machines has Apple beat on cost.]
-Undoubtedly the Mac line up will get a refresh and indeed people buy Mac’s to replace their old ones – well done! now sit down and relax that brace of over exerted brain cells after that mental effort … did you turn a reddish purple then?
-People also buy to supplement their existing Mac/s and, get this … farmer boy, over 40% of Apple store computer buyers are “switchers”.
[So there really isn’t much to drive up the share.]
-Hang on shepherd boy, when you tender to the sheep, do they bleat like you? There is plenty to drive up the share with the existing portfolio, so the new stuff coming on stream is going to be a blast, including the rental service. which will empower ITS and foster hardware sales and the studios get lucky too.
[A rental service? Big deal? It makes more for the studios than Apple which makes money selling hardware.]
-Oops, I just covered that above … I said I commented that above … See above … Oh, never-mind !!!
[The AppleTV sucks, no HD. Loading a iPod sucks because it’s too much work and too little of a screen, not to mention the slow USB connection and waste of hard drive space.]
-Are you a cattle rustler or a cowpoke, stock man? I mean there’s a difference. Right, do those long eyelashes just draw you in and you can’t help yourself?
-Lets wait until the 15 Th. to see where the whole AppleTV thing is heading.
[What is new at Apple? Nothing…]
-What you meant to say is “What amazing, up to date, latest, state-of-the-art, progressive, avant-garde, ahead of the times, pioneering, innovative, sophisticated, advanced, modern, cutting and leading-edge bit of kit is Apple going to surprise us with next?”
-I’ve just realized, maybe you’re in the warehouse line of work, silly little old me … did a box fall on your head once?
[The stock will either tank because of the reccession, or stabilize.]
-How’s the head? rub a cowpat on it. The only tanking to be done will be to ferry the champagne and beer to the investors parties.
-“Stabilize” I think 800 mg chlorpromazine might stabilize you.
[Sell.]
-Yep! Cowpat man, Apple goodness will continue to Sell Sell Sell, how right you are.
Steve Jobs has already “been out to lunch” just look at glossy screens, inferior iMac and iPod Touch screens, iPhone insecurities, Quicktime insecuritites, the iPod HiFi and the AppleTV.
Just look at the glaring lack of hardware options from Apple.
Just look at the sorry state of 3D gaming on the Mac.
It’s pathetic.
Apple just needs to pull a rabbit out of it’s hat again, to drive the stock back up despite a recession.
I do wish it would offer a lot more hardware options in the computer line up. They seem to do so for the iPod, but ignoring the advancement of marketshare for the Mac.
Anyway lets keep our collective fingers crossed and hope Apple’s momentum will continue.
Peace.
Are you some sort of Messiah?
or just a plonker?
After hours, AAPL stayed about even with its close. That indicates its Friday drop has likely bottomed out. Most likely the weekend will give investors a chance to calm down and be looking for good buys. Barring unexpected bad news, I expect AAPL to gain several dollars on Monday and continue its recovery on Tuesday. Those who bought Friday will have instant gratification (with a weekend in the middle).
@Hg Wells
aapl close down over $2. Now that is instant gratification!
@Hg Wells
aapl close up $0.80 above the low of 170.80. Down over $6. Now that is instant gratification!