“As of Monday morning the stock was officially down for 2011,” Philip Elmer-DeWitt reports for Fortune.
“Two days before Apple was expected to report record earnings — with customers snapping up iPhones faster than it can make them and others still camping out overnight to buy the latest iPad — the world’s most valuable technology company on Monday was down more than $7 (2.2%) in early morning trading,” P.E.D. reports.
P.E.D. reports, “It would be one thing if the whole market had collapsed. But the Dow is still up nearly 5% for the year.”
Read more in the full article here.
MacDailyNews Take: Continuing uneasiness over Jobs’ health issues, Japan suppliers, or other factors?
In before someone blames it on Obama while disregarding the other 1000 factors that cause a stock to go down.
You must really have a thing going. Does your leg tingle much?
Just pulling the slingshot back a little further this time. Who doubts AAPL with be over $400 by the end of the year?
Lets not forget profit tacking and people fretting over index re-balances. Anyone who’s traded aapl for a few years sees this time and time again. Apple with a PE of under 19 is cheap, you will make money in the long run, just don’t leverage so much on margin you are forced to sell
NO, stupid anal-ists! Can’t see the most profitable company that is standing right in front of them! Not only that but Apple has NO DEBT, close to 56 Billion dollars in savings that are not part of the daily business money. In other words, should anything drop like a rock Apple is well prepared to ride out any storm. Market STUPIDITY and short term buyers STUPIDITY! There can be no other explanation. Jobs health has NOTHING to do with the company. Japan will be pulled back together. No reason for Apple’s stock drop, none what so ever!
Hint… buy low.
The stock market is over-reactive and manipulated. Tread carefully on any stock including Apple.
It’s all out of your control. It’s a game for the big boys!
So true on so many levels.
Maybe inflation is coming which will hit all stocks.
NASDAQ rebalance – Apple currently is 20% of NASDAQ but going down to 12% soon. All funds tied directly or indirectly to this index have to unload a lot of Apple. Buying opportunity!! (PS. I own over $2M worth, so I pay close attention.)
Everything was going just fine until the GOP outlined their plans to slash jobs, water-down employee rights, kill entitlements, reduce infrastructure spending and more… all while delivering tax breaks to corporations and the most wealthy in our country. Go GOP!
Yeah, there’s that and the fact that their propaganda mask has fallen off revealing The Corporate Oligarchy pulling the strings of the TardParty puppets.
But the relevance to Apple stock sales? I don’t see it.
Boo hoo! You really need to wean yourself off MSNBC.
George Soros. Remember that name – if you don’t know it already. He is not GOP.
“Everything was going just fine until the GOP…”
Right! You call $13,000,000,000,000.00+ in debt fine???
You’re right, John. Technically only $11 trillion was under republican leadership
LOL… I knew that comment would get some people’s panties in a twist! It’s a ludicrous and somewhat ignorant comment I know, but it sounds pretty reasonable given the crazy things coming from the right these days.
@John M – I don’t watch MSNBC, but your Soros comment pegs you as a student of Fox News propaganda. Also, do some research… the Republicans don’t have clean hands when it comes to the national debt. How much do you think two wars, tax breaks for the wealthy, subsidies for very profitable corporations like Exxon and GE add to the bottom line?! FACTS are your friend… spend some time at PolitiFact, FactCheck, Truthout, OpenSecrets, etc. to see who’s really pulling the strings.
Your fact checking websites are left leaning. There is no unbiased news anymore. And it’s the employee rights and entitlements that are killing our country. Jobs aren’t coming back thanks to unions who have slowly driven industry to other countries. Those entitlements are things we simply cannot afford. And your boy, George – have you ever read what he says? Isn’t it ironic that he is trying to use big money to steer political direction just like big business?
All the fact-check sites are ‘left-leaning’??!! It seems you are taking the easy and predictable way out. If these sites are all ‘left-leaning’, then why do they call out false statements made by Obama, Reid, Democrats and other ‘lefties’?? They provide FACTS and links to further research so readers can make their own conclusions. They are not peddling a biased opinion like some news outlets. The more the electorate researches the FACTS, the better off our country will be. Dishonest conservatives like Beck, Bachmann, Palin, DeMint and Gingrich are the real problem.
As per usual with the US stock market, there is NOTHING indicating any problem with Apple, at this point anyway.
Thanks to the usual day trader dimwits, a cow could fart in the wrong direction and there’d be a run on all stocks associated with cows. They trade on a whim, all emotion, magic beans and flying spaghetti monsters.
IOW: This is a GREAT time to buy Apple stock!
Could it be double digit Market share drops for iPhone? Here in the UK even RIM grew share more than Apple.
Check the AAPL charts. The hedge funds love Apple. The company never tries to jawbone the stock as others do. Very tight lipped, saving information for official announcements, which means you have these dark periods where the only source of guidance is rumor and innuendo. Fabricating scary FUD is easy, and coupled with strategic short-selling during low volume sessions brings the stock past all reasonable lows. Then they cover and go long, because the beauty of AAPL is it always comes back and goes higher
I love this drop in price, it is a buying time. For some reason that generally escapes many who invest in the market, it’s generally better to buy low and sell high…
… Will AAPL drop soon after the Earnings Report or will it break with tradition and regain lost territory. The pattern, in the past, has been growth up to the Report, then collapse. Despite the quite positive nature of the Report. Maybe this is just the gamblers getting out earlier than usual just to be sure they don’t get left behind?
My guess is that the stock has been moved lower so that the brokers can get their positions in. Given the right catalyst they will start pumping the stock again. The earnings call could be it.
Well said! I always make money when AAPL reports because the stock tanks 2-5 days AFTER they report (sell), then starts heading back upward 5-8 weeks later (buy). The S&P lowering the US credit rating didn’t help either as investors fled various investment markets.
And don’t forget market manipulators who plant false rumours in order to make a profit. The bandwagon is then jumped on by ‘id78ts’ like these analysts and the people making up these misleading and WRONG headlines: I sure don’t remember 2011 being over. As for $7 down while market is up? The DOW IS A BLOODY AVERAGE PEOPLE. That means some will be down.