Apple briefly dips below $500 for first time since February; shares quickly pop back up above $510

“Apple Inc. (AAPL) shares dropped below $500 for the first time since February after Citigroup Inc. (C) reduced its rating for the stock on concern that demand for the iPhone 5 is slowing,” Amy Thomson reports for Bloomberg News.

“Apple fell to $499 at 6:55 a.m. New York time in premarket trading after declining 3.8 percent to $509.79 in Nasdaq Stock Market trading on Dec. 14,” Thomson reports. “The Cupertino, California-based company’s stock has lost 27 percent from a closing peak of $702.10 on Sept. 19.”

Thomson reports, “The prospect of weak iPhone 5 shipments creates an earnings risk for Apple’s supply chain, and shares of those companies may come under selling pressure, Citigroup said.”

Read more in the full article here.

MacDailyNews Note: Shares of the volatile AAPL are currently trading at $511.01, up $1.22 since Friday’s close.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

Related articles:
What the analysts are saying about Apple’s 2+ million iPhone 5 sales in China last weekend – December 17, 2012
Morgan Stanley survey shows strong Apple iPhone, iPad demand – December 17, 2012
Apple sells over two million iPhone 5 units in first weekend in China – December 17, 2012
Citi downgrades Apple to ‘neutral’ from ‘buy’ – December 17, 2012
Apple stock falls as some misinterpret demand for iPhone 5 in China – December 14, 2012
Survey: 53% of smartphone buyers plan to buy an iPhone 5, only 35% plan to settle for Android – December 14, 2012
Despite frigid temps, Apple’s iPhone 5 launches to enthusiastic reception in South Korea – December 7, 2012
Top-selling iPhone 5 flanked by strong iPhone 4/4S sales – December 3, 2012
Apple: iPhone 5 arrives in South Korea and over 50 additional countries in December – December 3, 2012

35 Comments

  1. Good, you AAPL shareholders have been far too successful and deserve to be punished by being brought down to the level of the have-nots.

    The takers, not the makers, shall inherit what’s left of the U.S.A.

    1. As a shareholder we sell to get the lower capital gains tax before year end. Best to down load then reload when the iPhone sells a lot by end of q4. Still made a few cent for the year from apple.

  2. The market and the analyst are so stupid about Apple.

    They don’t see any lines in China and they never bother to find out the real reason why? Just like everything else about Apple.

  3. A possible way out – use some of that cash horde to announce a renewed effort in making the best, most powerful business computer ever to be seen – a MacPro in multiple configurations – and declare you are going to replace Microsoft as the corporate, government tool of choice. Say it might take a few years, but you will do it. No television set will do it. And, certainly no iPhone 5S, or 6, or 7 or 8 or any kind of “wow” tablets will do it. Everybody is making those gadgets and nobody cares if Apple’s are better. My suggestion may not work but nobody, especially not Tim, has any better idea of how to stop the bloodbath of AAPL. Soon Michael Dell is going to say – “I told them to sell the company and give the stockholders’ money back but they didn’t listen and now look what has happened.”

  4. When the elite class of a country becomes stupid it proves that the ancient saying “Those whom the gods wish to destroy they first make mad.” is still applicable at all times.

    America at one time was the most enlightening and inspiring country in the whole world. It was the country where many modern ideas were born and spread universally. But soon the elite class became arrogant and hubristic. It began to replace many of the founding principles of the country with trashy ideas and practices.

    Included in this elite class are the Wall Street’s “smart people”. Once it made greed to be its main creed, it dragged the whole country to the bottom. The influence of Wall Street was very powerful on society. With money as its god it began to corrupt governments and institutions. Now if you want a no-brainer bet to determine which country where any thing could likely go wrong, it’s America. So very sad that such a great country as America should dig a deep hole that it couldn’t pull itself out.

      1. 3 comments by registered users at time of posting. The rest from trolls like Obama’s Fake Tears.
        Get out of mom’s basement, find a significant other, and try something other than Faux Newz for a week.

        As to the stock price. It’s still a nice $400 stock. It’s coming, so don’t get caught in the churn.

        1. I am so tired of the damn liberals, like you Agent Provo, throwing stones, calling names, and demonizing opinions that your don’t agree with. Why don’t you try watching Fox News a few times and then drop the “Faux Newz” crap. It’s an old routine and frankly, we’re tired of it. Fox news reporting 6am-7pm is top notch. Their *opinion* shows 7pm-10pm are the most watched in their time slot.

          Conservatives don’t seem to call MSNBC or CNN names, do they? Even though MSNBC has repeatedly had to issue retractions to stories and video they’ve doctored. Conservatives only have issue with the obvious collusion between the DNC and every major news outlet (except Fox). Countless cases show the exact same phrases used by politicians on the left and left leaning news organizations. Too many to be coincidence.

          Liberals like yourself are so damn intolerant of others, it’s disgusting. You claim to be the party of tolerance, but attack anyone who doesn’t agree with your platform. You claim to be the party intellect, yet deter thoughtful debate.

          If anyone is trolling the site, it’s you with comments like that. Grow up.

          1. You are slinging a bunch of accusations without a shred of proof. Fox, however, is KNOWN to be heavily biased despite it’s advertising claims.

            The quickest way to get dumped is to challenge their bullshit.

            1. Well, you got me. If Thomas Ricks says that Fox leans right, it must be. But, I’m sure if I went on MSNBC and started trashing their network, they’d dump me just as fast. So, nice job, you proved…. ummm… nothing.

              Listen, I never said that Fox didn’t lean right. On it’s opinion shows, it certainly does. However, the opposite can be said about MSNBC, NBC, CBS, ABC, CNN, NYT, etc. What’s your point? That today’s news misleads the public – yep, you win.

              With that out of the way, can you respond to my argument that liberals are intolerant? Can you respond to my argument that liberals divert to name calling and demonizing to avoid debate on real issues? Can you respond directly without diverting by pointing your finger in other directions or searching the web for irrelevant video clips, cause I can do that too.

              Examples of this behavior include:
              “Don’t look at the intolerance of the left, look over there at the video of somebody accusing Fox of leaning right”
              “Don’t look at our economy in advance of the election, look at these insignificant social issues instead. If you don’t care more about social issues, you’re a racist, bigoted, homophobe.”

            2. 1st- The MSM leans center right- not left. That’s an old Republican meme and it carries no water. The fact that half a million could protest the Iraq Invasion in a number of major American cities and not get coverage tells all you need to know about the Conservative bias in the MSM. The 2nd in command of CBS News came from Fox. Diane Sawyer of ABC cut her teeth working in the Nixon White House and stayed with him after his resignation from the Presidency. CNN is widely derided by those on the left as TeaNN for it’s embrace of the Tea Party astroturf movement of Dick Armey. “Liberal” MSNBC employs a former Republican Congressman as it’s morning host, the wife of Alan Greenspan as it’s midday host, the former Chair of the RNC as an analyst, the former McCain Campaign manager as an analyst, etc.

              2nd- Ricks didn’t say Fox leans right- he said they were acting like an organ of the Republican Party. Not the same thing.

              3- Anyone is capable of intolerance, but is much more common among people with a conservative social and political mindset. The kind of people who tend toward liberal thinking are different than people who tend to embrace conservative thinking. It has been said that liberals seek consensus and conservatives a leader, and I agree that generalization is usually true.

            3. First, your the only person I’ve even interacted with that will not concede the MSM leans left. It’s almost laughable that you would argue they lean center-right.

              Second, if we’re following your logic, Fox News doesn’t lean right, because Dick Morris (Clinton) is a contributor. It’s interesting that I’m willing to admit that Fox leans right, yet you’re in denial about the MSM. I’ll throw this out there: perhaps, just perhaps, the reason Fox News is the most watched news channel is because it doesn’t lean left? (Fox far an away won ratings on Friday during the CT coverage, BTW.)

              Again, you out Fox me (pun intended). Ricks didn’t say Fox leans right. He only *implied* it. You got me.

              You do know that the DNC hosts a conference call every morning; a call attended in proxy by the heads of the major left leaning media outlets to communicate key talking points. This is why they all seem to be repeating the exact same buzz words and phrases all of sudden one day. It’s not coincidence and it’s not subtle.

              Last, don’t try and sell us the ‘liberals seek consensus’ garbage. There was certainly no consensus when libs passed Obamacare. There is no consensus on the major social issue of our day. The majority of Americans are pro-gun, yet liberals seek gun control. The majority of Americans are pro-life (albeit be a slim margin), yet libs challenge. The majority are anti-union; yet liberals seek to prop them up. There is no consensus here. It’s the liberal way or be called out.

            4. Dick Morris is a DINO as is Bob Beckel as is Alan Colmes. They are useful idiots for Faux Newz and the Right Wing noise machine.
              The difference between MSNBC and Fox is that MSNBC has programs hosted by left leaning hosts, but follows the NBC News standards and practices and Fox News is all slant all the time.

              On MSNBC differing from the host will get you more time to make your point. On Fox it will get you dismissed. Big difference.

          2. > Conservatives only have issue with the obvious collusion between the DNC and every major news outlet

            [citation needed]

            BTW, I’m probably FAR more right wing than you are on many issues.

      1. Vsp makes a fair point, Apple is the orcestra of great ideas and Wall street the vessel for people to jump on the band wagon of their chosing. America became great because it had an amazing capacity to be creative and inventive and acheive the unacheivable. Betting on Wallstreet is all well and good, sometimes you win sometimes you lose. If Apple’s stock goes down to $400 or up to $1000, Apple will still be a brilliantly inventive company, a beacon for other companies and individuals to inspire.

        1. You don’t bet on Wall Street. You invest. For those who throw money blindly at a stock, any stock, then they are betting. But none of this has anything to do with America being a great country. Wall Street does not define America. VSP sounds like someone who has lost money in AAPL and now wants to get romantic about it. Let’s blame Wall Street because we didn’t learn to take profit. VSP sounds like someone who has held since $706 and has that kicked in the stomach feeling every day when they get up. That’s not romantic either. Something tells me that if he had sold at $706 or anywhere near it that America would look like the best country on the face of the earth. And it is. And that’s not because I sold at $700.

    1. Good points. You state the obvious. Hedge funds, Mutual funds and tax worries are of course reasons for the selloff. However you forgot a key point of investing. Taking profit when you’re way ahead. That is certainly to be considered as a huge factor in the selloff. Most investors are smart enough to take money off the table when they’re way ahead. That is also obvious. The selling started at AAPL’s all-time high. People knew to take profit. For those who have not, they have missed out on a lot of money. But most people are smarter than that. You also show how high and how fast AAPL had run up. That as much as anything else is a key point. AAPL had gotten ahead of itself. After the first of the year I believe it will come back to a fair valuation. And I don’t believe that is $700. But certainly above where it is today. And it’s nice to see that someone can look at investing in AAPL objectively around here. Thanks for not throwing in all the conspiracy theories about Wall Street. Nothing worse than people who make excuses and try to blame someone else. If you strike out it’s because you couldn’t hit the ball. Learn to hit a curve or don’t play. But don’t blame the fucking umpire.

      1. “Nothing worse than people who make excuses and try to blame someone else. If you strike out it’s because you couldn’t hit the ball. Learn to hit a curve or don’t play. But don’t blame the fucking umpire.”

        Really? Conspiracy theories? Who has this kind of access to money that can make this kind of sway or front run? You’re the reason why these crooks get away with this crap. Wall Street is the biggest gambling casino in the world and the house always wins (i.e. institutional investors) Remember, the golden rule. Those with the gold make the rules. You need to do a little research as well on High Frequency Trading, computer software buy & sell algorithms, and how these investment houses are co-locating servers next to the exchanges to get milliseconds advantage on programmed trades.

        Here…. I’ll help you … http://maxkeiser.com (High Frequency Scalping)

        1. I do research Toad. I’m well aware of computerized trading. Algorithms are used in many ways Toad. Algorithms are used in the valuation of calls Toad. Did you just read a couple of articles Toad? Did you see Bigfoot when you were sneaking up on Area 51 Toad? None of this matters anyway Toad, the Mayan calendar says the world will end this month. Should I provide you a link for that?

  5. Re-entered 15% of my AAPL allocation when it broke $500. We are in phase 2 – bash and buy – when analysts bash the stock with lowered estimates and price targets to enable big boys to steal shares from scared retail investors.

    The bashing of the stock and lowering of the estimates set Apple up to win big at earnings to handsomely reward today’s buyers. Bring on the bashing, I am buying.

  6. Wall Street slime have been playing the slander and short game for a looooong time and continue to do so. To wit, an oldie but goodie.

    “Get people talking about it as if something is wrong with RIM,” Cramer advises. “Then you would call the (Wall Street) Journal and talk the bozo reporter on Research in Motion and you would feed that Palm has got a killer it is going to give. These are the things that you must do on a day like today. And if you are not doing it, maybe you shouldn’t be in the game.”

    [snip]

    How do you drive Apple stock down to profit from your short position–especially when the company is just about to announce it’s new IPhone?

    “Apple–it is very important to spread the rumor that both Verizon and ATT have decided they don’t like the phone,” Cramer says. “It’s a very easy one to do. You also want to spread the rumor that it’s not going to be ready for MacWorld. And this is very easy, because the people who write about Apple want that story. And you can claim that it is credible because you spoke to someone at Apple. It is an ideal short. If I were short Apple, I would be working very hard today to get that. And the way you would do that is pick up the phone and call six trading desks. And say, listen, I just got off the phone with my contact at Verizon. And he has already said–we’re a Samsung house, we are a Motorola house. There is no room for Apple. They want too much. We are not going to let them in. We are not going to let them do what they did to music. And that’s a very effective way to keep a stock down.”

    http://tinyurl.com/3dmuu4

  7. As the last few years have demonstrated, no matter how much manipulators push Apple’s stock down, its fundamentals keep buoying the price back up. I see no reason to believe those fundamentals will change next year. I’m confident the stock is actually worth $700 (and rising) and that the market will reflect that at some point in 2013.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.