“U.S. stocks fell sharply, after heavy selling in momentum stocks such as biotechs and Internet companies on Friday reversed an early rally, sending the Nasdaq Composite to its worst day in two months,” Anora Mahmudova reports for MarketWatch.
“The Nasdaq Composite fell 110.01 points, or 2.6%, to 4,127.73. Friday’s losses resulted in a second weekly loss in a row. Biotechnology and Internet stocks were the worst hit. The iShares Nasdaq Biotechnology ETF, a benchmark for that sector, fell 4%,” Mahmudova reports. “Shares in Apple Inc., Nasdaq’s heaviest weighted component, were down 1.3%. Facebook Inc., considered a momentum play, tumbled 4.6%. The stock is now in bear market, having fallen more than 20% from its all-time closing high set on March 10.”
“‘We are seeing a key reversal, significant retrenchment in risk in equity markets. For days we saw equities going higher while gold and oil drifted lower and now this trend has reversed,’ said Colin Cieszynski, senior market analyst at CMC markets,” Mahmudova reports. “Among individual stocks, shares in so-called momentum high-growth stocks dropped sharply, sending some of them into bear territory. Telsa Motors, Inc. fell 5.9%, Pandora Media, Inc. fell 4.9%, Amazon.com, Inc. fell 3.2%.”
Read more in the full article here.
Help me out here. Weren’t the Apple fanboys on this site raving about how Apple will hit $1,000 by the end of the year?
Although many here on this site would like the stock price of AAPL to go to $1000 this year, they don’t really know what drives the price up or down. AAPL suffers from the Apple/Microsoft scenario played out in since 1984. The general belief is that the same thing will happen with iOS and Android. No matter how successful Apple is, many people would like to believe that Apple can’t succeed and want history to repeat itself. Apple is a ‘nice guy’ and the general low life of society want the ‘nice guy’ to finish last and the greedy selfish amoral companies to succeed.
my co-worker’s half-sister makes $89 /hour on the laptop . She has been fired from work for five months but last month her check was $21382 just working on the laptop for a few hours.
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look at this site…….. http://surl.hu/iKIJJK
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Sorry sc (Samsung corp???),
But while the market is run by many greedy controllers. I and many others feel that Apple will rise.
Remember. The market things Amazon is great and they break even or lose money. Lol
Apparently you don’t have any AAPL shares but feel sorry for yourself when you learnt a lot of people bought it when it was less than $100 just a few yrs ago. Feel sorry for you
Why are you so rude? Why are you so nasty? For the same reason you are sure you are right and everybody else is wrong. Stupidity! Oh, by the way, I made a Million dollars buying AAPL.
Two weeks? What a LOON! Two weeks? Are you kidding? I’ve been in Apple for 11 years starting at $7.50 per share. I now make more than my original investment every quarter in dividends. Last July I bought 6 figures worth of Apple on July 1 at $402, so I’m up only 35% in less than a year on that block of stock. You just DO NOT understand investing. Go back to clown school. Your attempt at humor is pathetic.
Bullshit.
Look up the prices on those dates, jackass. You’re pathetic even under a different disposable name.
There is just short of 9 months left in this calendar year.
You could have a baby before the end of the year if you start tonight.
I think Apple has time to wow you.
Weren’t the Apple fanboys on this site raving about how Apple will hit $1,000 by the end of the year?
Lied the anonymous coward troll. Pathetic, aren’t you.
“confabulate (kənˈfæbjʊˌleɪt)
Psychiatry: to replace the gaps left by a disorder of the memory with imaginary remembered experiences consistently believed to be true.”
Yep, you chose the right name.
I’ve made hundreds of thousands off aapl in profits in the last 10 years from small investment… so for your trolling… I’m just laughing at it.
all from doing ZERO work. Let Jobs, Ive, Cook do it for me…
sure I’m happier if it was $1000 but will I lose all my money still in aapl? doubt it… the P.E is already so stupid low.
(nothing seriously wrong with the company. Just bad spin.)
meanwhile, I’m still making thousands off dividends now…. and gradually as the years go buy , Cooks going buy back more and more of the company letting fewer shares outstanding because regardless of the naysayers Apple is raking in Billions every quarter).
I’ll just wait sitting watching the cruise ships come in a few blocks from my retirement house…
lol.
THANK YOU APPLE.
GOOG and GOOGL both crashed, I am happy to say. May the FORCE bring them down even further. Could this be the beginning of the collapse of the Evil Empire?
Nah. AAPL down too . All NAZ stocks down. Check the charts for the last year and a half : AAPL vs GOOG. That’s 18 months not one or two days . GOOG hasn’t seen $500 in years.
I’ll try to help.
See, it’s not the end of the year yet.
That statement made absolutely no sense. But it was a good start for someone as emotionally and socially retarded as yourself. Keep trying Forest.
Isn’t momentum the essential element of how a roller coaster works? If investment is part of the pathway to a better future, it seems to me that a roller coaster isn’t the best choice of transportation. When they work right, you end up where you started and when they go wrong, people can get hurt. Momentum investing seems like a choice for thrill seekers.
Exactly. All the stocks that fell hard were the overvalued. Apple was affected the least out of the big boys.