“Many investors found the timing of the sell-off suspicious, pegged as it seemed to be on a bogus report that Deutsche Bank had downgraded the stock,” Elmer-DeWitt reports.
“A downgrade the day before Apple is scheduled to report earnings made no sense, since most analysts we polled expect the company to blow past not only its own guidance (earnings of $1.7 to $1.78 a share on revenue of $11.3 to $11.6 billion), but the Street’s consensus (earnings of $2.07 on revenue of $12.05 billion),” Elmer-DeWitt reports.
Full article here.
Maybe I get this all wrong but EPS for the first quarter should be around USD 6: USD 2 for the quarter, USD 2 for not deferring revenues anymore and USD 2 for starting to bring home the deferred revenues (1/8th of USD 15 Bio.). Too good to be true? If this is not a fairy tale then I wonder how the Wall Street will handle this.
We all know who’s to blame for this.
Spoken too soon – Apple crashing with the rest of the market right now…
…and the people behind the nonsensical downturn either made tons of money this morning, or will make it over the next week or so.
Tell me – how does this type of market activity add any value (except to those who profit by it). In other words, is profit without adding any value warranted, or simply part of the reason the market is sick, without any requirement for long term thinking and adding of value – just get rich quick, even if it is at other people’s expense.
How will we build a better world with no long term vision and willing to sacrifice our children’s future for quick bucks and satisfaction now. This type of activity does not build sustainable economic growth, which ultimately has to include raising everyone up. Otherwise the market collapses from within – as we just experienced. Profit can be good or evil – depending on how it impacted others in its acquisition. Profit based on slavery, for example, is evil. Profit driven solely by selfish motives and which abuses others is not sustainable or moral.
My 2 1/1 cents worth.
sorry for the typos…
Until Wednesday… let’s see what the President has to say at the State of the Union speech and then see where the stock stands!
Class, your homework assignment for that evening will be to count how many times the word “I” “saved jobs” and “inherited” are mentioned…
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Wow, I’m impressed.
I had 11:50 am down for when this thread would go pear-shaped.
Oh, 12:19pm
Apple crashing with the rest of the market right now…
Not really!
It’s now 12:26pm MDN time and AAPL is still up 3.95 (2%) on the day.
You do understand that the value of stocks can go in either direction?
Apple rebound comes as no surprise. Good company, good fundamentals so although I am saddened by market manipulations motivated by greed, it doesn’t worry me with regards to being in for the long run.
@MCCFR…You are so right in that it certainly doesn’t take long these days for some A-hole to bring up Obama bashing or irrelevant political blather. I just wonder if it isn’t just one or two people doing it under different pseudonyms as they are generally unregistered names….like my new tuna smelling friend Kent.
Remember the days when most comments were either informative or just downright funny?
The stock market benefits from short selling in that it allows hedge funds to engage in legalized fraud through collusion and manipulation, rumour mongering and mendaciousness. The brokers make money on all transactions, so eliminating short selling would hurt everybody but the buy and hold crowd. I guess this is why my broker said that “buy and hold is dead”. There needs to be a website organized to make short selling illegal, where individuals could sign on and get the message to the SEC et al.
@Buster:
Simple way to stop political bullshit written by schoolchildren is to make every poster register. Then we’ll know.
@F.Maxwell:
Agreed throughout.
@ HueyLong
“Simple way to stop political bullshit written by schoolchildren is to make every poster register.”
Good luck with that idea.
@cynical or observant – you decide
I’d say observant, perceptive, and realistic. Capitalism can be a win-win scenario if it is not taken to extremes.
I expect a good reentry point for Apple to be available in May or June
Apple sells off after earnings and MacWorld every year.
Sell into the rally this week and buy back when the momentum starts to pick up.
Watch the CMF indicator on Apple.
I agree, make everyone register and also let everyone vote thumbs up or down and delete those with many downs. And also let use choose to block posts from those we don’t care to read. I see this on several news sites, see the SL Tribune for instance. Gets rid of most of the stupid political posts. Certainly MND can do what a small newspaper like the Salt Lake Tribune can do. Or can’t they?
@ HughB
The question isn’t whether they can, it’s whether they will.
…and what better way to rile up all those maggot-infested peacenicks than to fill your site with anonymous neocon partisan parrots? It’s all about driving the clicks, baby.
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@HB, HL, C1 and FM….I’m sold. Here’s hoping that MDN reads this thread and implements it. What’s the worst that can happen….nothing?
@ Buster
“What’s the worst that can happen….nothing?”
Our posts get deleted and This Never Happened.
F. Maxwell…
I posted something called Gooper Debating Rules on HuffPost about eighteen months ago which observed exactly the behaviour you describe.
If you ever really want to screw around with a Fundamentalist Gooper’s head, remind them (indeed draw their attention, if they’re exceedingly stupid) to the fact that the original Pledge Of Allegiance was written in 1892 by a Christian Socialist (and Baptist Minister) called Francis Bellamy.
Watch their little eyes spin as they try to reconcile the fact that they have been reciting an oath authored by a man who believed in a socialist-oriented society and who also wanted to foster a sense of American nationalism in schoolchildren.
Hours of endless entertainment and very cheap, other than the mental cost of having to mix with Fundamental Goopers.
@ F. Maxwell
It’s not nice to pick on the mentally challenged.
Remember, the “average person in the US of A” isn’t all that well trained in critical thinking given the current state of education. And half the population is below the average…