Nasdaq retreats amid tech selloff after Apple’s record results

“The Nasdaq Composite Index slumped as disappointing results from Apple Inc., Microsoft Corp. and Yahoo! Inc. rippled through technology stocks,” Callie Bost reports for Bloomberg.

“Apple fell 4.6 percent after iPhone sales and revenue forecast missed estimates,” Bost reports. “Microsoft lost 3.8 percent after posting its largest-ever quarterly loss. Yahoo forecast sales that were below projections, sending its shares lower.”

“Apple slid after releasing results late Tuesday. iPhone shipments for the fiscal third quarter and the company’s revenue forecast for the current period missed analysts’ projections, raising questions over whether demand for the device has peaked,” Bost reports. “The Chicago Board Options Exchange Volatility Index fell 0.7 percent Wednesday to 12.14. The gauge, know as the VIX, tumbled 29 percent last week, the biggest such slide since January. ‘It’s a question of where leadership will come from,’ said Yousef Abbasi, the global market strategist at JonesTrading Institutional Services LLC in New York. ‘Commodities are getting trounced again. That’s going to hurt energy, materials and industrials. Apple and Microsoft earnings didn’t look great, so you can rule tech out.'”

Read more in the full article here.

MacDailyNews Take: The only expectations Apple “missed” were faulty targets created by inept analysts.

In reality, Apple posted yet another blowout quarter. The company’s guidance was exceeded. iPhone and the Mac are growing sales, 59% and 9% respectively, in markets where competitors are struggling – due to iPhone and Mac strength, no less.

Regardless, the game has been set in motion. Play it well or enjoy it from the relative safety of the sidelines!

SEE ALSO:
Apple earnings: Good is never good enough – July 22, 2015
Cowen downgrades Apple on record quarterly earnings results – July 22, 2015
For Apple, more success raises more questions – July 22, 2015
Sorry, haters: Tim Cook confirms Apple Watch sales are much better than you think – July 22, 2015
Here’s how many Apple Watch units Apple sold – July 22, 2015
Drudge screams: ‘APPLE FUTURE QUESTIONED’ – July 21, 2015
Apple poised for $50 billion valuation loss after posting ‘disappointing’ record earnings – July 21, 2015
Apple shares plunge after ‘disappointing’ record third quarter results – July 21, 2015
MacDailyNews presents live notes from Apple’s Q315 Conference Call – July 21, 2015
Apple pulverizes the Street with record third quarter results – July 21, 2015

9 Comments

  1. “The only expectations Apple “missed” were faulty targets created by inept analysts.”

    Yeah, typical, what has changed over the past 15 years? How about we each sell 10 shares of AAPL, pool the money, and send the “Wall Street experts” a ton of cases of Preparation H, something they sorely need to keep their brains from boiling anymore this hot summer.

    My guess is that the dissatisfaction of the “investors” is nothing more than Day Traders and stupid ANALysts looking to rake in more profits than should be legal. If we had an SEC that was paying attention as well as an administration with BALLS, this might not be happening.

    Yeah, before you weenies start ragging on me, look at Googles, Amazon, and others quarterly reports and then tell me how they pulled it off?? AAPL is getting FOOKED by Wall Street and it will never change. “Get back at Steve Jobs for pissing us off for so many years!!”

  2. You have to admit it was a good play.
    Stock goes down based of the Slice watch data. Hits $121.
    Stock miraculously goes up to $132 within a week.
    Apple posts record quarter but misses expectations and stock goes back down.
    If someone bought in at 121, sold at 132 and bought back in at 125 then that is $7 (6%) per share made in less than a week.

  3. The actual drop in AAPL was not so bad, at the end of the day. It was typical profit-taking action, not a result of so-called “disappointment.” Less than two weeks ago, AAPL closed at about $120. Now it’s more than $5 HIGHER. That’s a GOOD two-week period. Less than one year ago, AAPL was mired in the $90s. That’s a GOOD year.

    The good news… This is what “big media” is painting as a “sell-off” for AAPL. They and “big money” wanted AAPL to drop further, but they were unsuccessful. They’ll try some more, but It’s almost time for the upward portion of their game. 🙂

  4. So, massive sell-off is when AAPL drops by about 4% (all told)??

    There were days (many consecutive days) when AAPL, as well as most of the rest of the stock marked, moved daily up or down by 5% (mid- 2008). Even the most placid old-school stocks moved by 3-5% almost every day, and many gyrated wildly, up to 10-12% in each direction. If you had a way of guessing if a day was an “up” or a “down” day, you could easily double your money on any such day by playing options. Of course, you could as easily lose your shirt by guessing wrong…

  5. Wow! If you only read these articles it would seem like Apple (the company) is on a downward spiral, when the fact of the matter is, they’re doing BETTER than they ever have.

  6. There was no disappointment, they were record earnings for the slowest quarter of the year. The disappointment only comes from the IDIOTS on Wall Street. Apple had an outstanding quarter. Wall Street has excuses ready no matter how big Apples earnings are or what they forecast for the future.

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