“Nasdaq index futures fell on Wednesday after Apple became the latest high-profile company to miss earnings forecasts, though the broader market gained on a report that said the Federal Reserve was moving closer toward further stimulus for the sluggish economy,” Edward Krudy reports for Reuters.
“Apple earnings fell short of Wall Street’s expectations as the European economy sagged and consumers held off buying its flagship iPhone ahead of a new version expected in the fall,” Krudy reports. “Shares dropped 4.9 percent in premarket trading.”
Krudy reports, “Wall Street stocks fell on Tuesday, hit by signs the euro zone crisis is worsening and evidence that Europe’s slowdown is hurting U.S. companies, including bellwether UPS.”
Read more in the full article here.
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Apple’s earnings miss could take down the stock market – July 24, 2012
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It is scary how shallow the financial community is…one that has global impact. Here you have one of the best performing companies ever and because Apple didn’t reach estimated fantasy numbers, these jokers are allowed to pull down a market. More scary is that the investors at large believe these high paid analysts…
Brrrrr!
Funny, the anal-yst blew the forecast (and should be fired) but Apple, turning in its third best quarter ever and exceeding the projections that it shared with the world months ago is “dragging the market down”. I think the market is being dragged down by its heavy load of BS and operational malfeasance. Fix the Wall Street Casino and you will fix the world economy.
BOO! FUD!
The key words here are:
Stock Manipulation
The bloated ‘market expectations’ were a pre-planned method of manipulating Apple’s stock price yet-again.
Apple remains the one blatantly successful company during our ongoing worldwide economic depression. So of course you should SELL SELL SELL! Nothing says ‘sheeple’ like watching DayTraderTards run away from Apple after a brilliantly successful quarterly report. Amazing. 😯
We seem to be in violent agreement. Day trading is not investing. “Operational malfeasance” was my code phrase for stock manipulation.
An inverse sliding tax scale on stock transactions would cure the problem instantly ( hold a millisecond, tax rate on gains is 95%, hold a year, tax rate is ordinary income, losses cannot be used to offset gains in either case). I do not recommend holding your breath for that to happen.
Day trading is foolishly considered to be ‘investing’ by many who don’t know what they are doing. Thus I call them ‘DayTraderTards’ and mean it. They are the sucker sheeple who get their heads lopped off by the ‘operational malfeasance’ stock manipulation wolves. I fully comprehend that a lot of investment funds qualify for my definition of ‘DayTraderTards’. This is evident by the massive sell offs immediately after anti-Apple stock FUD fests. It’s ridiculous behavior.
I like your tax idea. It might help. I won’t hold my breath. 😉
Apple did not miss Analcyst missed their mark Apple did exactly what they said they would do. Again this is little more than driving the stock down again because its too high if they drive it down and make a profit by purchasing it low and then talk it up again to 1000.00 a share by June 2013 then they made some more money. Or they could be going short and looking for a dip to buy short and sell short. Great stock manipulation going on for sure. I have not seen this with other stock before. 3rd best quarter in the history of the company and people are saying its over.. its makes you laugh if not cry.
How does that work? They beat their “guidance” by a buck but they still “missed”. What the hell is wrong with these people. Of course these are the same goofballs that think Amazon is worth 160 times earnings. Why don’t they go back to buying Facebook shares ><
It’s not just the iPhone that’s slowing things down…
1) iMacs are in need of a refresh.
2) Mac Pro is in need of a refresh.
3) Macbook Pro “Classics” are in need of a refresh
(Save for the 15 inch Macbook Retina Model that just launched)
4) iPod Touch is in need of a refresh.
Save for the new iPad and Macbook Pro Retina Display, Apple’s product line is looking stale at this point.
Apple’s managed to Osbourne itself.
Eric,
Actually the MacBook Pros got a refresh, it was just not something HUGE. And iMacs are in the pipeline for an update.
Just a thought.
This is nuts – Apple did not miss – they exceeded their OWN forecast – as they always have.
No matter how well Apple does as a company, in this economy, long-term Apple shareholders are going to get beaten to death while the day traders make all the money. Why Amazon is allowed to have such a high P/E makes no sense to me since it is just as vulnerable to the whims of the economy as Apple is. Making money from the stock market has nothing to do with the solidity of a company, it’s more about rolling the dice over quarterly estimates and this time Apple came out craps. Only Google was able to easily beat the odds this time around.
Long-term Apple shareholders haven’t seen any gain for months as Apple shares stagnate despite Apple making money ($7 billion more in cash this quarter). I’m sure glad for the dividend that’s coming and I’ll just have to be satisfied for that. I’ll just have to chalk it up as another quarter gone down the toilet. The manipulators are winning.
It will go up again. The next quarter could be tough since the iPhone won’t come out till oct. only back to school sales to look forward too.
Saying that who would have thought in 2005 that apple would sell 4m macs in the slowest quarter. That in itself is amazing. We’ve gone a long way.
The dividend will be nice. I’ll plough it straight back in to aapl.
Sorry MDN that you couldn’t pen your usual “Apple smashes, or trumps, or clobbers, or stuns, or demolishes, the street”. Settle down. You can still use “magical” when describing Cook’s new mobile device products he has promised. In the meantime, computer customers like us are still waiting and growing hopeless that we matter to the once great Apple empire.
Soo much bs going on here by the idiot journalists and wall street clowns, i wish apple was a private company with no shares and dividends to deal with and that it was away from this type of manipulations and hostage. Just judge the company on its products and general profit, which in itself is an achievement in this volatice economy. The wall street lot and their media morons are responsible for all these economic problems and wish they were arrested and put in jail and the other wannabees stoppedmfrom practicing such manipulation