“The recent selloff of Apple has reached such an extreme that some portfolio managers say it’s a buying opportunity for investors,” Priya Ganapati reports for TheStreet.com.
MacDailyNews Take: Ya think? Does that mean they’re done manipulating it for now?
Ganapati continues, “Company observers say Apple’s steady growth overseas and its coming launch of the iPhone in new markets overseas could help offset some of the economic uncertainty in the U.S. markets.”
“Consumer demand remains strong for the iPhone, a major player in the smartphones market, according to market research firm ChangeWave Research,” Ganapati reports. “Indeed the iPhone is the top choice among consumers planning to buy a new cell phone in the next six months.”
“Darren Chervitz, director of research for the Jacob Internet Fund, says Apple’s long-term prospects remain strong and the recent dip presents a buying opportunity. Jacob Internet Fund holds shares of Apple in its portfolio,” Ganapati reports. “Fears that a recession or a slowdown could impact consumer spending may already be baked into the stock at its current levels, experts say.”
Full article here.
Apple’s core won’t shine until you bite my Newton.
Now Chrissy, that’s no way to treat our esteemed analysts!
You’re right.
I’ll get my claymore.
We all know its a conspircy (sp) to try and topple Apple, either that or its the wall streeters working to make big bucks off Apple.
Once they have milked every dollar they can out of the bottom price, it will climb back up.
And since it was the Street that wrote the article, we know where they really stand!!! They want us to buy a few more shares and drive the price up one last time so that they can hammer it again.
But….. every article about Apple is super positive. So, when they have bought enough shares thru the back door accounts so the Feds will not notice, up it goes.
en
En, why did you put the (sp) after your misspelling? If you are on a Mac and you think you misspelled a word, simply double click the word, then right-click it and pull up the dictionary. It will suggest the proper spelling of conspiracy for you!
“Fears that a recession or a slowdown could impact consumer spending may already be baked into the stock at its current levels, experts say.”
Feels more like a burn. :-p
The hammering is not malicious, but calendar centric. Money cycles out of consumer goods at the end of the calendar year because that sector cannot grow during the winter months.
Large blocks of money simple move around to net the best return during windows of time.
Watch the shares rise now moving toward the end of the quarter, then settle for 30-50 days, then move forward until the WWDC. During the low demand of the summer, large positions will be built slowly.
End of the year, around $225.
That result will be sold as a terrible year for the stock, and it will get hammered in early January.
Are you taking notes? There is going to be a test, you know, and an A in this course equals no mortgage.
M$ would pay the price if Apple somehow went out of business. Can we say D.O.J. and anti-trust? Apple isn’t going anywhere and M$ is more likely to have trouble because computer users are fed up with their OS.
I think people are overreacting to AAPL’s price drop, and ascribing motives to market participants that display the ignorance, zeal, and/or hypocrisy of many investors: First, the market has been getting slammed over the past couple of months: CME lost 101 points a few days ago, and many other stocks have been hit just as hard as Apple has. Second, when Apple flew up to 200 over the last year, nobody complained of manipulation; nobody said those profits were ill-gotten gains. If you believe AAPL, or any stock, is being manipulated, then accept both sides of the issue.
The market moves in cycles, always has. If anything, it’s usually the excess of the upside–and deception on the upside such as cooked books and misleading statements motivated by greed–that eventually requires bear markets to wring out the excess, whether inventory or the negative effects of credit expansion (or, in the case of the current credit/housing situation, both).
If you truly believe the stock is being manipulated and want to continue to make money, then sell short or buy puts when your stock falls. Otherwise understand that the action of the market is bigger than some anonymous people out to steal your profits.
Another irresponsible, ignorant and just plain dumb 2-cents comment by MDN.
Where is your proof, MDN, that people are manipulating the stock? Steve Jobs shorting the stock, eh?
Darren Chervitz, director of <strike>research</strike> Pointing Out The Blindingly Obvious for the Jacob Internet Fund, says Apple’s long-term prospects remain strong and the recent dip presents a buying opportunity.
@jimbo von wiskinheimer:
<quote>”En, why did you put the (sp) after your misspelling? If you are on a Mac and you think you misspelled a word, simply double click the word, then right-click it and pull up the dictionary. It will suggest the proper spelling of conspiracy for you!</quote>
Actually, in windows running firefox you can do the same exact thing, it pulls up the definition on a free dictionary website in a separate tab. Heck, you can translate from languages, search the web, do all kinds of stuff – and that’s just because of the browser and whatever plug-in utilities you customize it with. Who needs an OS anyway?
Obviously MDN didn’t like the <quote> tags… whatever…
When Apple was at 12, no one said “buy”, and when it was at 200, few people said “sell”. Some big companies can make money in the long term, but for ordinary people, you might as well go to Las Vegas.
Apple is a great company, but its stock prices are driven more by fanboyism than financials, which is a shame cause it’s a great company. I sold at $200; I’ll buy back in when it hits $99.
There are a lot of AAPL retail day traders — at least there used to be a lot of them. They thought that they could play the speculator game against the WS firms and thought they could put their margin call levels far below any potential price drop. But the hedge funds exist for the very purpose of skinning the too clever by half retail day traders. The latter just got skinned.
Now, these retail traders are in shock — cleaned out in most cases. Visiting the high tech stock web sites is like going to a wake. So, it appears that the bulk of the tinder has been burned along with the forests above them. That is what makes for a bottom. There is little money left to be made from the newly impoverished day traders.
Apple’s corporate fundamentals are wonderful. I bet on AAPL long term on that basis, not based on the market manipulating shenanigans of the pump and dumpers, including the reverse pump and dumpers. I just ride the AAPL roller coaster. Your loses do not become real unless you sell out cheap in a panic or forced by a margin call.
I expect that we have either seen the bottom or shortly will see it. Then it will go roaring back up, as the WS firms get to buy in cheaply.
Corrupt? I think so. But I think my strategy is a good one that works over the long term, even in the face of government aided and abetted market manipulation. And think of the bright side. Here is an issue on which both major political parties agree on — bipartisan on corruption, for it.
Manipulating is correct. When a dozen or so items about the company are positive and productive the anal-ists focus on the one or two bad items that really don’t make much difference. Negative input drives ball-less investors to sell and it has not let up since the first of the year. Tell me what besides a low estimate by Apple, which is normal for this time of year, has been bad enough to drop the stock 37%?? Some say get MSFT, yep a new operating software package that sucks, an MP3 player that sucks and Xbox 360 that overheats, yep that looks like a good company to invest in!!