“Apple shares fell sharply immediately after the open, falling briefly to around $275, down about 5.5% from Monday’s close of $291.16,” Matt Phillips reports for The Associated Press.
“Apple is nearly everybody’s favorite stock — and it exerts near planetary gravitational pull on the Nasdaq 100 — any wiggle in the stock’s trajectory attracts a lot of attention,” Phillips reports.
Phillips reports, “We haven’t seen any good explanation for the move yet.”
Full article here.
MacDailyNews Take: Shenanigans: RUMOR: Apple COO Tim Cook leaving to take HP CEO position – September 28, 2010
If you overlay all major indices over AAPL’s chart for today, you’ll notice how AAPL is tracking the rest of the market pretty closely.
Apparently, AAPL’s Beta is around 1.4 these days. So, for every 1% swing for other major indices, AAPL swings 1.4%.
CNNMoney reports: “US stocks tumbled early Tuesday after a sharp drop in consumer confidence fueled worries about the pace of the recovery.” Among those US stocks is our Apple.
Over the past months (and years), AAPL has so often been going against the overall market drops, so much so that we now expect that when major indices drop, AAPL continues to go up. Well, it doesn’t do it EVERY time, so every once in a while, when the entire market sneezes, AAPL catches that cold as well.
No manipulation; people are just knee-jerking agin…
@ Michael Perry
LOL! Thank you, for starting my day with a great laugh. ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />
@ Michael Perry
LOL! Thank you, for starting my day with a great laugh. ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />
@ mike
“uh, the BB tablet?”
HAHAHAHAHAHAHA! No, seriously, what did you mean to say?
@ mike
“uh, the BB tablet?”
HAHAHAHAHAHAHA! No, seriously, what did you mean to say?
The market will fluctuate.
The market will fluctuate.
@Jersey_Trader, re: SEC
They’re all too busy watching pr0n atm.
Maybe later. If they feel like it. Maybe.
http://abcnews.go.com/GMA/sec-pornography-employees-spent-hours-surfing-porn-sites/story?id=10452544
@Jersey_Trader, re: SEC
They’re all too busy watching pr0n atm.
Maybe later. If they feel like it. Maybe.
http://abcnews.go.com/GMA/sec-pornography-employees-spent-hours-surfing-porn-sites/story?id=10452544
@Predrag
Back to the charts for you. Overlay AAPL with Nasdaq or the Dow, and you’ll see AAPL was down around 2.79% at it bottom vs. 1.19% for Nasdaq, .89% for the Dow. Not exactly a beta of 1.4!
@Predrag
Back to the charts for you. Overlay AAPL with Nasdaq or the Dow, and you’ll see AAPL was down around 2.79% at it bottom vs. 1.19% for Nasdaq, .89% for the Dow. Not exactly a beta of 1.4!
Of course it did. Because I just bought some on Friday!
Of course it did. Because I just bought some on Friday!
Nothing in the world can constantly rise… When will people understand that constant growth is a myth.
What goes up must come down. This is life.
Nothing in the world can constantly rise… When will people understand that constant growth is a myth.
What goes up must come down. This is life.
Poor Tim, Jobs’ untimely death has been greatly overplayed, and so this now solidifies him as next in line. Henceforth, Tim better not be caught sneezing even near the Bloomberg vultures and the Gawker teams.
Poor Tim, Jobs’ untimely death has been greatly overplayed, and so this now solidifies him as next in line. Henceforth, Tim better not be caught sneezing even near the Bloomberg vultures and the Gawker teams.
Btw. according to this, Tim has denied legitimacy of this rumour: http://www.businessinsider.com/apple-coo-tim-cook-says-hes-not-leaving-for-hp-2010-9
Btw. according to this, Tim has denied legitimacy of this rumour: http://www.businessinsider.com/apple-coo-tim-cook-says-hes-not-leaving-for-hp-2010-9
@predrag,
“No manipulation” er actually the rumor that Tim Cook was leaving for HP was a BIG RUMOR and FUD. Stock jumped from 292 to 275.. a big enough jump to justify manipulation.
Just a thought,
en
@predrag,
“No manipulation” er actually the rumor that Tim Cook was leaving for HP was a BIG RUMOR and FUD. Stock jumped from 292 to 275.. a big enough jump to justify manipulation.
Just a thought,
en
Lol why would any one go from Apple to HP??? LOL… Who was the idiot that came up with this rumor!? Get him fired!
Lol why would any one go from Apple to HP??? LOL… Who was the idiot that came up with this rumor!? Get him fired!