Apple rising as overall stock market sinks on ‘government shutdown’ concerns

“The S&P 500 opened 0.40% lower at 1683 with no deal is in sight to end the government shutdown,” Scott Redler reports for Forbes.

“The talk is predictably shifting toward a ‘grand deal’ that includes the debt ceiling, for which the deadline is October 17,” Redler reports. “Most world markets are in the red as well, with Europe and Japan at one-month lows. The S&P 500 is down about 3% from its highs three weeks ago.”

“Apple (AAPL) is still building a nice price pattern but a bit jaggedly. Jeffries upgraded the stock this morning so let’s see if today’s morning gap up holds and if it can build,” Redler reports. “The area that hurt many of us last week is $492ish. A close back above this could help get this more momentum.”

Read more in the full article here.

24 Comments

    1. A 64-bit iPad isn’t going to change anything for Apple. Wall Street is so focused on cheap Android tablets it isn’t funny. You see where Amazon and Google are going with their tablets. It’s who can put out the cheapest tablets with the best specs. There will be the industry-wide insistence that Apple’s iPad is too expensive regardless of how many bits they can fit in a processor.

      Of course the 64-bit iPad is an excellent technical leap forward, but Apple is not going to get any recognition for it because the Wall Street believes the world will be gobbling up low-cost Kindle Fire HDXs and Nexus 7s. If Apple were to offer an A7X iPad for only $50 to $75 more than those Android tablets then everything would be over for those cheap Droid tablets in an instant, but it won’t ever happen. Apple refuses to deliver a knockout blow to Android devices. Apple seems intent to drag out the battle for years.

      1. Apple is not interested in market share. They don’t need to bribe customers with cheap prices. People are already scooping up millions of iPhones, iPods, and iPads. Apple is the master of profit share, which enables them to continue to create amazing products.

        1. The knockout blow is excellence, product allure and an irresistible ecosystem. Don’t understand why people think Apple should compete for the bottom feeder cheapskates out there. Apple has proven you wrong in the profits dept. time and time again. It’s obvious what they are doing is working where it matters to a company. Apple is smart in it’s strategy. Shrewd like a fox.

  1. Obama is god. Obama can do no wrong. I know because I’m a liberal and all liberals have the privilege, no, make that the right, to spend, spend, spend, until the coffers run dry, and even then spend some more, because by god, unless we liberals bleed the taxpayer dry, there’s still blood left in them thar stones.

          1. way to show your immaturity!

            The vast majority of voters are reasonable and collaborative in nature. The brats on the extremes, whose words and actions show how little they care about the repercussions of their divisive attitudes, need to learn the difference between immature whining of their simplistic ideologies and reforming a complex system that yields better long-term results for EVERYONE, not just the greediest most self-serving vocal amongst us.

  2. Man up, Boehner, and bring the bill to the floor. How many times have you futilely voted to defund the Affordable Care Act, yet you refuse to bring a clean government funding bill to the floor because you “think” it “might” not have enough votes to pass? Lmao.

    The American people are calling your bluff, Mr. Speaker. Bring the bill to the floor!

  3. I am curious, what would happen in a hypothetical situation, if the Democrats were to threaten a shutdown of the government unless, say, a gun control and marriage equality bill were adopted? Would the Republicans hold their line or try to offer some sort of compromise in order to re-open the government?

    It seems to me that the Republicans are rapidly expending any political capital they may have with the mainstream Americans (as a consequence of the popular level of dissatisfaction with the president, which is close to 50%), by appearing the very unambiguous cause to the shutdown. With the exception of the fairly small minority of their conservative base (Tea Party and the surroundings), the country widely blames the conservatives for the shut down, and the longer it drags on, the more political capital they will (needlessly) waste on this. Their mathematical formula here is wrong: they are hoping that the grand prize they will get (by expending this political capital and holding firm on shutdown) will be some sort of heavy damage to the ACA (“Obamacare”). Unfortunately, that will not happen; the progressives have no reason to give in when the country blames the other guys. And with nearly 3 million Americans rushing to sign up for health coverage they never had, it will be increasingly difficult to convince Americans that Obamacare is actually bad for them, when such high numbers end up having coverage for the first time in their lives. A good lesson is when Medicare was passed; fierce opposition from conservatives didn’t prevent it, and it would now be inconceivable not to have it.

    Conservatives aren’t learning their lessons from the last election. When Obama was elected first time around, it was easy: any Democratic candidate would have won after Bush, and the country voted AGAINST Republicans, much more than FOR Obama. But last year, the challenger was intelligent, capable and in some ways potentially moderate Republican, yet the country re-elected Obama, with a decisive majority. Yet, rather than reach out, Republicans are re-energising their (rapidly shrinking) base.

    I gotta say, American politics can get quite fascinating, if it only weren’t so destructive, not just for America, but for the rest of the world as well.

      1. Predrag, you posed a question which has troubled me for years.

        “…what would happen in a hypothetical situation, if the Democrats were to threaten a shutdown of the government unless, say, a gun control and marriage equality bill were adopted?”

        The Republicans have been playing the obstruction card from a minority positions for years. If it works, then when the GOP regains a majority position through the normal ebb and flow of politics, the Republicans are setting themselves up for the exact same type of dysfunctional, obstructionist treatment. If this happens, our country is in trouble. Even if the Democrats decide not to stoop to this type of extortion, our country will still be in trouble if our politicians do not learn to work together for the common good.

        Regardless of your ideological position, this is an extremely ill-advised political tactic that has the potential to greatly damage our country. Separate these issues and tackle them one at a time in a reasonable manner. First, fund the Federal Government with a clean CR. Second, extend the debt ceiling a reasonable amount, again in a clean manner. This has to happen regardless of the budget because we cannot magically, instantly balance the budget. It will take time to do it right, regardless of the approach. Third, the key players need to sit down and hammer out a long term spending plan. These year-to-year stopgap spending measures are not going to solve anything. We need to formulate and execute a sound and reasonable plan leading towards a balanced budget over the long term. And all taxation and spending aspects of the federal budget must be open to discussion, from defense spending to Social Security and Medicare. This is the only reasonable way to handle the situation facing our country.

        This is a call to reason which will be derided or ignored by the extremists among us. But we cannot allow the abusive, vocal minority to dominate the conversation.

        1. “when the GOP regains a majority position through the normal ebb and flow of politics, the Republicans are setting themselves up for the exact same type of dysfunctional, obstructionist treatment.”

          Newsflash, this has already happened during the Reagan and “W” years and will continue to happen. It is nothing new, well, to some of us, that this game called politics is played by BOTH SIDES! The only reason why Republicans are maligned is the constant biased reporting by the non-objective media, though thanks to the internet that is changing and the lack of the population to independently educate themselves on the issues of the day, which, sadly is not changing.

          The government is no longer government “of the people, by the people, for the people” but rather government “of the Party, by the Party, For the Party” and most policy is geared toward winning the next election.

          “First, fund the Federal Government with a clean CR”

          If Harry Reid and the Democrats did their job and worked on and passed a budget to operate the government, not seen since 2009, then there would be no need for these CR’s, right?

          1. The facts do not support your case, Mr. “Know Better”:

            http://newsjunkiepost.com/2010/03/02/republican-obstruction-at-work-record-number-of-filibusters/cloture-invoked3final/

            As an independent, there is little to praise about the inept Democrats. There was plenty of whining by both liberals and moderates (and fiscally sane voters) during the disastrous G.W. Bush years, but no serious opposition to his policies.

            However, an exponential growth in the use of filibusters (not to mention endless attempts to ram through de-funding bills which only waste congressional time and resources) is a record that the Republican party has easily set. When they attempt to blockade all progress, the vocal few of that party are truly without peer.

    1. My apologies for posting non-related stuff, but the big elephant in the American room today is this shutdown, so even on a tech blog, it is bound to be mentioned. Also, I tried not to post “drivel”, but just some observations of a non-American. I’m sorry if it bothered you.

    2. I agree, LB. This forum has been taken over by political rants. Sometimes it is difficult to resist responding to the political goading and FUD even though ignoring them is probably the wisest approach.

      In this instance, Predrag posted reasonably on a topic of intense interest to those of us in the U.S. and I followed up with what I believe are important concerns. But I agree that MDN should be moderated. At the very least, only registered members should be able to post, rate (stars), or vote on surveys.

Reader Feedback

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