“Thanks to reader Michael Lehman who wrote in earlier today, calling my attention to DB’s policies. It’s just another reminder not to rely on headlines, and how powerful an extra second or two of research and reason can be. Lehman took issue with me characterizing the DB news as an Apple ‘downgrade,’ telling me that the firm has internal controls that require it to remove a stock from a short-term buy list 6 months after it was added. Lo and behold, Apple was added on July 22, 2009, exactly 6 months ago today,” Goldman reports. “‘I think the notion that Apple has been downgraded is a misrepresentation of an automatic rule and shareholders are likely to react negatively (and probably already have) to that news,’ he wrote.”
MacDailyNews Take: Stupidity is the gift that keeps on giving. And, oh, what a gift this one is!
Goldman reports, “Michael, you are 100 percent right. I contacted DB this morning, and a spokesman confirmed that Apple being dropped from the list today was simply automatic. Period.”
Full article here.
MacDailyNews Note: Apple Inc. shares (APPL) are currently down $8.502, or 4.09% to $199.57.
[Thanks to MacDailyNews Reader “Mike in Helsinki” for the heads up.]
I see a bargain!
You should definitely remove apple from your short term buy list. History repeats itself every January, and people just don’t get it. Apple creeps up until the keynote, and the following day it plummets. Then it starts creeping up again. Anybody with any sense would sell their apple stock the day before the keynote, and buy it back a week or so after. This is a no brainer.
I see my shares down 4.5% today for no apparent reason. Of course, I was ecstatic few days ago when it was up 4.5% in one day.
its pretty unpredictable… though from what I’ve seen… it usually goes up on hype.. then drops before the keynote.. then jumps during the keynote… then plummits the next day if whatever is selling doesn’t predict the future… then it rises again.. its really hit or miss.. but its usually predictable the outcome… Lately nothing is making sense.. I remember either this week or sometime last week apple being at 215.. and now its under 200… come on.. seriously
fin nazis
flappo,
yes, it’s the fault of the Germans rather than the dickheads who respond without checking or researching.
Also, if you have faith in the fundamentals of a stock, why would it matter to you whether it was on a list.
Wow, a Lehman brother with a brain…..
To me this was perfect timing. I snapped up all the shares I could afford right at close. I am betting that the shares will not stay under $200 on Monday, then earnings, then the “newest creation” on Wednesday. Today the stock was simply manipulated and its price driven down intentionally. The large funds are looking to make a killing next week and hopefully we can ride their coat tails.
Yeah … but I’m looking to sell the remainder of my shares to put the money into a more active mode. Nothing against Apple, or AAPL, just want to use the money for something else. Now that there’s more than twice as much of it. On a good day. Today is not a Good Day. And, I can wait.
It’s usually a mistake to follow the price of a stock, rather than its fundamentals, when trying to judge its value. My opinion is that AAPL is worth more than the current price. And I can afford to wait for it. The fundamentals are there, they are strong, they are getting stronger. It’s the market that’s the problem.
Shortselling should be outlawed forever. It’s a kind of sucking savings out of small investors.
I am very tempted to short AAPL right before the announcement on Wednesday, it doesn’t matter what they unveil, it won’t be good enough to keep the stock price where it is.