Apple stock continues swoon

“Apple Inc. can’t shake its recent doldrums,” Steven Russolillo reports for The Wall Street Journal.

“Shares are down again and have slipped below a key technical level,” Russolillo reports. “They are also nearing bear-market territory, considered a drop of at least 20% from peak to trough.”

Russolillo reports, “The stock recently fell 3% to $578.57, the lowest level since late July, and is down 18% from its all-time closing high of $702.10 hit on Sept. 19. Shares are also poised to close below their 200-day moving average for the first time this year. That’s a key technical level chart watchers pay attention to as a line in the sand that defines uptrends and downtrends. Closing below could portend more trouble for the stock, at least in the near future.”

Read more in the full article here.

41 Comments

  1. Of course Apple’s days of endless rising were going to end. We knew that the Surface was coming. What we are seeing now is the investors reaction to Surface.

    1. Good grief. AAPL stock, like other stocks, fluctuates. There have been periodic sell offs all along. In the past, AAPL has dropped in excess of 40% several times, all while growing and increasing earnings.

      1. That was when Steve was alive to pull Apple shares back up. Now that he’s underground he can only pull down and he’s really pulling hard.

        You’re also forgetting that Increased earnings and profits have no meaning to Wall Street. It’s only EXPECTATIONS that matter (compare Apple to Amazon and Priceline). Wall Street EXPECTS Apple to fail and there’s nothing in the world that can change that because it’s a perception that Apple can’t alter by merely selling an ever increasing amount of products.
        /s

        1. Apple was underpriced before the sell-off. This is most likely a short term phenomenon. If Apple continues improving products, which they should, expect the stock to be setting new highs within six months. If we see a new breakthrough product it will be sooner.

          If Google decides to monetize Android, something which seems overdue, then Android handset prices will rise and push some of their users to Apple. That will cause both goog and AAPL stocks to rise.

        1. As Mac market share grows it will increase at an increasing rate. Microsloths best days are behind them. They [MS] will always be in the market but as more eyes are opened to alternatives (Apple) there is more upside than downside. A good stock won’t stay down long and with Apple’s cash hoard the a large portion of the stocks value is back by hard cold cash. It’s hard to beat that. I think the stock will be flat through the holidays but Apple is poised for a block buster quarter. Oppy set guidance at 52 billion. Apple rarely fails to meet their guidance but other fails the streets obsurd pulled out of their ass numbers.

        2. Yeah right! Name some companies which had huge losses because they underestimated Microsoft. If you give another weak one-liner with no plausible supporting info, I’ll know to ignore you and suggest everyone else do the same.

    1. The only thing rising at Microsoft is the sweat stains on Ballmer’s jockeys. They can make it as far as the shirt region depending if he’s been dancing or not.

      1. At $100 each it must have cost a bundle to pay to have that many people stand in line in front of MS stores. I heard you got another $100 if you actually bought a Zune…I mean Surface tablet.

  2. I can’t decide if this is because of Siri, Maps app, lack of confidence in Tim Cook, the iPad Mini, the purple glare when using the iPhone 5 to take pictures of the sun, or because of product details being leaked before announcements. I’m sure it’s one if them. Whichever was most important in iPhone 5 and iPad Mini preorders being sold out in minutes.

  3. Apple is on solid ground without any competition in quality for years to come.

    End of year and pre election selling into profits has begun early because word of Obama winning and raising capital gains taxes to at least 18%, has idots (that would rather pay15% capital gains @ $600 over 18%-20% @ $900-$1000…) selling now.

    1. If I understand you correctly, it is dumb to sell and miss out on $400 in capital gains just to avoid paying 3% more on it. I agree. But I would also say, if you believe AAPL is going higher this year and beyond to at least hold on as long as possible to the end of the year and hope it goes as high as possible to capture the lower tax on a particular capital gain as possible. If you think it’s eventually going to go to some capital gain wouldn’t you rather pay a 15% tax on this level than have it cover this range when, perhaps next year, there is an 18% tax on it? For example, say you sell now at $600 to capture the 15% tax and then immediately repurchase because you think it is going to go up and it does…it goes to $800 on December 31.. You got yourself in for a higher tax on that $200 than if you held through the $600 to $800 on December 31 because now can only sell as a short term gain or next year at the higher 18% rate.

  4. Grand theft alert!

    Wall Street crooks are out in force to steal your Apple shares next week. They have been sending out BS artists like Walter Piecyk, Trip Chowdhry, etc. to trash talk and scream Apple sky is falling to set the stock up for a fire sell next week. Watch them engage CNBC scumbags to take part in the scam by parading Piecyk and his ilk in front of camera screaming gloom and doom all day.

    If they succeed, we will see a capitulation some time next week when AAPL drops 40 – 60 points in huge volume of 50 – 70 million shares, but then recovers to close unchanged or slight positive.

    Don’t fall for the scam. Hold on tight to your shares and buy aggressively if or when that happens. Nothing is wrong with Apple. Its fundamentals are stronger than ever. Apple is in the middle of its strongest quarter with its best product lineups.

    Believe in fundamentals and ignore Wall Street crooks.

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