‘The Curse of the Dow’ bites Apple

“Has the ‘Curse of the Dow’ finally caught up with Apple?” Saqib Iqbal Ahmed reports for Reuters. “Shares of the iPhone maker have been in a rut since posting disappointing quarterly results in late June, falling to a six-month low of $113.25 on Tuesday.”

“The recent declines have wiped out nearly $100 billion of Apple’s market value – about as much as fellow Dow components Boeing and McDonald’s are worth in total,” Ahmed reports. “or CEO Tim Cook, it means his stake of more than 111 million shares is now worth about $12.76 billion, compared with nearly $15 billion at the peak in late April.”

“With Tuesday’s declines, the shares have dropped 13 percent over the last 11 trading days. ‘When you get a stock that is over-owned it’s difficult to find that incremental buyer,’ said Art Hogan, chief market strategist at Wunderlich Securities in New York. ‘It’s having its own momentum meltdown,'” Ahmed reports. “Apple options were busy on Tuesday with about 2.13 million contracts traded, its third-most active day this year, as investors anticipate more volatility in the stock.”

Read more in the full article here.

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  1. “…since posting disappointing quarterly results in late June…”

    So I guess anybody can lie about anything, print it and there are no repercussions?

    What the hell has happened to this country in the past 50 years?

    1. Published lying is not a novelty…it’s been part of the culture for many decades. Only difference now…disseminated instantly to a much bigger/responsive audience.

        1. I answered this question-
          “What the hell has happened to this country in the past 50 years?”

          There was also this in the article-
          “Saqib Iqbal Ahmed reports for Reuters”

          I’ve never heard Reuters described as ‘Conservative’.
          Maybe Liberalism has also affected reading comprehension???
          I know it has killed many an attention span.

          1. Sooo profoundly stupid. So the robber barons didn’t lie? Society was so truthful and just in the days of children working seven days a week for 12+ hours a day?

    2. This notion that Apple is “over-owned” is absolutely nuts. Amazon is over-owned, companies with very little profit such as Facebook, and Netflix are over-owned. Apple is under-owned.

  2. “MacDailyNews Take: How looowww can it go?!”.
    Only Wall Street or market makers know this answer.
    Perhaps, It will go down as low as to the ground and stay there. Smiling.

  3. The curse of the Dow? Disappointing results? What other voodoo crap can we use to explain this. The bones and tea leaves did not fall right?
    I agree with Think but expand it to beyond the country to encompass the world. Lies, cheat manipulation. Sad sad sad.
    Norman Rockwell….please come back to us.

  4. Guy’s talking bullshit.

    Makes it sound like its Apple’s fault.

    Apple’s correction is a part of an overall market correction. Also “over owned” stock, is also meaningless bullshit. Apple has been reducing available shares. Right now the stock was stacked with crybaby owners who don’t know investments from a fishing pole.

    Just sit and wait it out. But maybe, just maybe, someone is manipulating the stock. I say look at who’s making money right now, and give them a good stare.

  5. Tim Cook has 111 million shares? That would be news to the Apple board; their most recent stock grant for Cook was one million shares. Now, that’s still $114M, but it’s not $12B.

    Hey Reuters, is the rest of your article this inaccurate?

    1. I took that 111 million shares as what his total holdings to date are. So that means the recent 1million stock grant you mention is not even 1% of his total..

  6. Stupid ANALyst, WS manipulators a and Leeches. Apple posted a killer quarter and these vampiric scum of the earth are playing the manipulation game to the hilt.

  7. what? getting lower is actually GOOD for Apple. It’s cheaper for them to buy their own stock back. and People’s talk about the “Correction”? what? It’s been like this for the past two years. They keep going off the trigger for little numbers but each quarter they show Great Results. Any other company and they would be flying out the roof. No one’s talking about samsung and their 40+% decline in phone sales, that should pile drive the stock down. and Apple Should buy Sharp.

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