“China has been weighing heavily on Apple lately — at least in the minds of the financial press,” Philip Elmer-DeWitt writes for Fortune.
“With the iPhone sliding into third place in China, the Shanghai Index falling 26% in six weeks, and December’s tough compare looming, things must look pretty bleak to the algorithms that just pushed Apple’s share price into correction territory,” P.E.D. writes. “Apple PR has so far declined to comment on any of this. And why should they? The company’s CEO, and resident China expert, has already said his piece.”
I think China is a fantastic geography with an incredible unprecedented level of opportunity there. — Apple CEO Tim Cook
Cook’s full quote in the full article here.
MacDailyNews Take: No, Apple is the opposite of doomed in China.
The annual “let’s scare mom and pop out of AAPL and make some free money” bullshit train is chugging along. Either profit from it or sit back and enjoy it, just don’t believe a word of it.
SEE ALSO:
About all of those reports that Apple is in dire straits – August 4, 2015
Continued Apple swoon could crush this market – August 4, 2015
Apple replacing AT&T causes Dow Jones Industrial Average to suffer – August 4, 2015
Apple stock now officially in correction territory as it crosses below key technical level – August 3, 2015
Nasdaq retreats amid tech selloff after Apple’s record results – July 22, 2015
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
What!
According to the news media, Apple is doomed everywhere you can name. I wonder if it really is scaring mom and pop out of Apple stock. It’s sort of stupid to buy high and sell low unless those people really need the money or they bought on margin which a lot of people do. However, I do understand the fears of 2012 when Apple took a big dump but Apple doesn’t appear to be in the same situation to me. Not that it really matters, if there is collusion on Wall Street, Apple can plunge again for some other reason.
Collusion? What, they all meet in the back room somewhere? Who is involved in the collusion? There is no “they”. It’s not baseball. It’s Wall Street. There is no collusion. Wall Street is just a place where investors conduct their business. It’s not a secret group of people out to cheat you out of your money. There is no “they”. Stop looking for a scapegoat.
It’s simple:
China is used to cheap, knockoff crap as the standard. Of course cheap, knockoff crap is going to sell in China, if only out of habit. Darn, they could have had an iPhone…
IOW: BFD.
It’s August. In August, Xiaomi releases its newest iPhone knock-offs of the upcoming Apple iPhones. Apple will not be releasing their new iPhones until September. Anyone would be a FOOL to buy last year’s model in August when they know that if they merely wait a month the new model will be out at the same price they would be paying now for last year’s model! If the just wait, they can have the new one or buy last year’s at a discount. They are NOT FOOLS nor IDIOTS.
Those buyers who wouldn’t be buying Apple anyway are busy buying the Xiaimi (Show-me) knock offs because they want to LOOK LIKE they bought an Apple iPhone. . . but they only want to pay 1/3 the price of the Apple. Those buyers can buy right now, so naturally they’ve overtaken the iPhone’s sales numbers for a while. This happened LAST August as well. It’s temporary.