“Stocks added to losses Wednesday following the Federal Reserve’s meeting minutes, amid ongoing worries over Greece, and as Apple traded near [currently below: -$10.16, or -1.99%, to $499.30 – MDN Ed.] session lows,” JeeYeon Park reports for CNBC.com.
“Apple slid to sit near the lows of the day, weighing on the S&P and Nasdaq,” Park reports. “The iPad maker had been trading higher, crossing the $475 billion market cap mark earlier this morning.”
Park reports, “The Fed minutes showed a few officials in January felt another round of bond buying would be needed before long to support the U.S. economy. The debate took place at a meeting in which the Fed decided to hold its benchmark interest rate at record lows until at least late 2014… U.S. industrial production was unexpectedly flat in January, according to a Federal Reserve report. Economists polled by Reuters expected industrial production to increase 0.7 percent. Meanwhile, the Fed revised December’s industrial production to show a 1 percent gain instead of the previously reported 0.4 percent increase.”
Read more in the full article here.
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Last chance , 10 years from now you can brag you got in when it was under $500.00
WTF happened today. I started the day on a high up $15, went to lunch, and down $10. That’s a $25 swing.
Yeah, yeah… invest for the long term…
Feels like a little manipulation took place this afternoon. The Feds meeting minutes weren’t the only thing at play.
probably both the fed announcement and Apple pulling iPads from Amazon China… I noticed the basic Dow chart and the AAPL chart have a very similar shape today, so largely a function of the overall market rather than just AAPL… I see it as a moment for investors to catch their breath…
Think of the poor Berkshire investor; today BRK-A was up $369, before it dropped $2084. That’s a $1715 swing.
Of course, at a per-share price of $116,910, the change was only -1.32%.. ; )
(Compared to the DOW J losing -.76%, and AAPL shedding -2.31% today.)
Profit taking. It’s really that simple. Just watch closely the next few days. Should be plenty of good entry points. Just do it gradually. Options are a much better choice at these prices. But you have to monitor your investment constantly in AAPL as it will be, as you found out today, a violent stock going forward for at least this year. You snooze,even for 10 minutes, and you lose! Too much money to be made or lost in this stock to give it a glance several times a day. If you can’t watch it like a hawk, don’t get in.
Another thanks to Billyboyzipper Clinton for giving us the worst financial cries since the great depression.
Clinton? Seriously?
Good Lord……..
Quite the opposite. Clinton was the last sane, able and competent president the USA had. And no, a romance does not disqualify someone. It went downhill when the Bush-Boys from Neanderthal entered the ring.
Ubermac may have been referring to Clinton’s role in ramping up higher risk housing loans under the updated CRA (Community Reinvestment Act). Yes, Clinton deserves a lot of blame for juicing the housing market which ultimately crashed. (So does Obama who, as a community activist in the 1990s, pushed for more such loans in a lawsuit against Chase Bank in Chicago.)
Hmmm and yet you totally did not mention the 12 years of Bush rule as having anything to do with this.
I like to stay away from politics on this site, but some of the statements that people make here just go too far…. for an Apple based site.
Work on it…i am sure you can go back even further than Clinton….What about George Washington himself?
Exactly. The reason the Brits let US gain independence because they knew the country would eventually end up in this mess.
Now that’s what I call long term planning 🙂
As a Brit, trust me on this: we couldn’t plan anything that deep or sinister and – if we tried – we’d screw it up.
An example: when the British discovered that Kennedy was followed around by a man “holding the football”, there was a clamour that we should have a similar system for Harold Macmillan to control our Polaris deterrent.
I’m quoting the rest from another website…
The MoD wanted the PM to join the AA (like the AAA in the US) so that he could use the telephone in case of a nuclear attack.
The original idea was people to go around with radios, but this was too expensive and Macmillan did not want people following him around all the time. So they used the same system used by the Automobile Association, which involved sending a signal from the AA to the PM’s car if the Soviets struck.
Thus the PM could get to the nearest telephone and issue the order to counter-strike. In a series of memos it was first suggested that the drivers should carry four pennies on them at all times so as to pay for the call in the phone boxes, but then it was suggested that the drivers should instead make a reverse charges call.
Yes, that’s right: whilst the Commies were raining down nuclear death on the UK, our Prime Minister was supposed to be standing in a frickin’ phone box waiting for what was then the General Post Office to connect a collect call to the chain of command. I can’t see a flaw with that idea.
Tangent #1: With regards to the original security plan, the government also considered buying membership to the RAC as well.
Tangent #2:. After the Cuban missile crisis it was discovered there were no protocols in place for firing British nuclear weapons. As a result, when a new Prime Minister comes into power they write letters to the Trident captains. These are sent to the submarines and when the captain gets the letter he burns the previous one which is locked in a safe and replaces it with the new one. When you become Prime Minister you are told there are four options of what to tell the captain. First is nuke Moscow, the second is to surrender, the third is to go to America and hand yourself over, and the fourth is to go to Sydney. No-one knows what is written in the letters and they are always destroyed when the government changes. Also, submarine captains use the Today Programme as a warning. If they wake up at 6am GMT, listen to long wave, and if the programme is not on, they assume the worst and open the safe. Sunday is an exception as the Today Programme is not on.
Genius. Want to attack Britain? Do it on a Saturday night because we’ll all be down the pub and the Today Programme won’t be on till Monday so you can have 24 hours without retaliation assuming that the letters don’t say “Go to Sydney” (which would be my choice). Also – have a laugh – if you’re Iran and you nuke Britain, we’ll retaliate by nuking Moscow (!). It’s almost worth doing just for the craic.
Total stupidity! Clinton gave us the LARGEST SURPLUS IN HISTORY.
It was G.W.Bush, the unelected president, who launched two illegal and immoral wars and hid the costs, causing the greatest world depression since 1929.
Lol, thanks to the Internet bubble.
Just like Obama has to deal with the fallout of the housing bubble, Bush had to deal with the fallout of the Internet one. Almost all Presidents are mediocre. That’s what our system is geared towards. Even Presidents people think were great like JFK, were mediocre at best.
ThatLARGEST SURPLUS would be the dot.com bubble, which crashed right after Bush took office.
Crisis.
Ten years from now the dollar is gonna be used as toilet paper if we the people don’t do anything about it, like jail these globalists, or we’re going to have to join you in Cancun, Hot, after the SHTF.
Really? Jail people who are making the world a level playing field? The world needs a democratic government and easy access to ALL the world markets. When the US grows up and takes her place in the UN an puts some teeth into global rule of law, we can all breath easier. The US dollar has become the defacto standard for the world markets because of the greatness of her past standards of business ethics.
Globalism is the next step in human development. We can’t act like selfish teenagers forever. A mature world will lovingly develop the nations with education and wisdom.
It’s amazing at the lack of economic understanding in the US. The dollar is fine. Inflation is low. The value of the dollar vis-a-vis foreign currencies is being intentionally held low.
They couldn’t find a good excuse to short the stock and take in profits so let’s blame Greece and the Federal Reserve.
The price gains were too tempting to not manipulate.
Been waiting for this.
Please keep your hands and feet inside the cart at all times and buckle up boys and girls.
Suppose taking the iPad off the Chinese online markets had anything to do with it? That’s my guess.
He’s talking about Glass Stegal repeal. Which btw Uber, passed house + senate with almost no opposition. Can’t blame one guy at the top for ALL of the stupidity, there’s plenty of ways to spread it around.
1
The market is a giant scam, run by nerds with computers and helped by the media stock gurus.
+10 (million counterfeit stocks)
Ooops, did I say that out loud?
I’ve been watching Apple stock price since 1995. It has never been an indicator of the rest of the market. That’s what happens when a company walks to the beat of its own drum rather than the prevailing trend. I hope it never changes.
After AAPL’s enormous run over the past days, would someone complain about this relatively small drop? Had it run up and stopped where it is now, people would have been very excited. But because it went past and fell back (due to external factors), some seem concerned?