“With Apple’s reversal Monday came a flurry of positive analyst’s notes,” Philip Elmer-DeWitt reports for Fortune.
“‘Apple’s shares may have found a bottom,’ wrote Sand Hill Insights’ Chuck Jones over the weekend. On Monday the stock complied. It closed at $119.68, up $4.155 (3.6%) for the day,” P.E.D. reports. “With the bounce came a flurry of positive analyst’s notes.”
Here’s one: No evidence of a massive drop in orders to suppliers. “Fears of broad order cancellations in Apple’s supply chain driven by soft China demand appear exaggerated to us. Our Taiwan Technology team, led by Anne Lee, notes that some suppliers, such as Catcher, have not seen cancellations over the past month. Bottlenecks may defer demand slightly for some vendors, but stable orders and an on-track 6S launch suggest fears will be short lived.” — Jeffrey Kvaal, Nomura
Read more in the full article here.
MacDailyNews Take: As we wrote back on June 13th:
Those who are interested in actually analyzing companies vs. fomenting low-information investor sentiment against them, are those who listen to what Apple’s management tells them:
Even if a particular data point were factual it would be impossible to accurately interpret the data point as to what it meant for our overall business because the supply chain is very complex and we obviously have multiple sources for things, yields might vary, supply performance can vary. The beginning inventory positions can vary, I mean there is just an inordinate long list of things that would make any single data point not a great proxy for what’s going on. Apple CEO Tim Cook, January 23, 2013
SEE ALSO:
Merrill Lynch cuts Apple rating; Jefferies, Global Equities foresee impending ‘disaster’ – August 5, 2015
Drudge screams: ‘APPLE FUTURE QUESTIONED’ – July 21, 2015
Apple shares plunge after ‘disappointing’ record third quarter results – July 21, 2015
Apple pulverizes the Street with record third quarter results – July 21, 2015
[Thanks to MacDailyNews Reader “BD” for the heads up.]
You know that SOMEONE just made millions (billions) on manipulating Apple stock… It’s why we need to tax stock market transactions to get rid of the speculation and gambling, and return the market to its purpose of investment and growth.
I’d like for there to be stock market transaction tax but I’d heard it wouldn’t work. I’d think it would help generate a lot of tax revenue and slow down all these constant trades. I also wish there was a way they could limit how often a stock can be traded and impose a penalty if it were traded sooner. I know none of this is going to happen because there are people getting rich and nobody wants to upset the applecart of wealth.
All this day trading stuff seems like some sort of gambling scheme that has nothing to do with investing in a company. How does putting money into a company for one day and then taking it out the next help anything? You’re not allowed to do that with a CD bank account or you suffer a penalty. This constant trading makes the stock market too flaky.
It would have to be a progressive tax based upon the time the stock was held before selling. It would have to be much more extreme than the current two step progression.
Think of a 50% tax for holding it less than a minute (hits those very high frequency computer traders that sometimes trade on a millisecond basis).
A 45% tax for those that hold for less than a day.
A 35% tax for those that hold for less than a month
A 25% tax for those that hold for less than a year
A 15% tax for those that hold for less than two years.
A 10% tax for those that hold for less than 5 years.
A 5% tax for those that hold more than 5 years.
It’s not an optimal set of breakpoints, but the greed focused people on Wall Street will spend billions in Washington to make sure NOTHING like this never happens. (Their real thought is… It’s not about the companies. It’s about how much money we can make on the stocks themselves.)
And, it’s not really gambling on Wall Street. (It is for the little guys. It’s NOT for the big guys.) If outcome manipulation were to be tried in any form of legalized gambling, the perpetrators would be barred from the venues in a heartbeat — or brought up on criminal charges.
Yet, the people who routinely do such manipulations on Wall Street are allowed to do it time and time and time again.
Your proposal makes no sense. You can’t track how long a share has been held. For instance:
Let’s say I buy 10 shares of AAPL today.
Then I buy 10 more a month from now.
A week after I bought the 10 additional shares, I sell 10 shares. Which 10 shares did I sell? The 10 I bought today? The 10 I bought a month from now? What about 5 and 5?
The accounting would be a nightmare.
Jeffery must think he’s the smartest guy in the room.
What a load of crap. It’s just the big fish pushing the market wherever they want period.
The stock market does not reflect the value of a company.
The stock market has been rigged since…forever.
The stock price of AAPL or anyone else is easily manipulated.
When you are asked to agree with the notion that Social Security should be dissolved and replaced with “investments”, tell them Dr. Money thinks you’re a lying contemptuous weasel.
It will NEVER happen, but the SEC should go to each and every one of these “analysts” who have flip-flopped in the last month in their stories about AAPL (and Apple) and say, “Show us the hard data behind your negative then positive stories. If you cannot produce such data to support your positions, here’s a $100,000 fine for illegal stock manipulation.”
Or, I wish the SEC would find just one trusted friend, business associate, or client of one of these “analysts” who has repeatedly (more than once) followed the opposite path of one of these analysts and made a sizeable fortune doing so. That is, “Analyst X made dire predictions about Apple and AAPL. Apple stock plummeted on the report. Analyst X’s very close friend, Mr. Y, made a huge purchase of AAPL after the drop. Shortly thereafter, Analyst X, reversed his position on AAPL and gave a glowing report on the future of Apple and Apple subsequently the stock surged several percent. Very shortly thereafter Mr. Y sold his shares of AAPL making a huge short term profit. Analyst X clearly manipulated APPL so his associate, Mr. Y, could profit significantly.”
But, it will never happen. (Well, the chance is not really, truly zero. But, it is somewhere in the region of one divided by infinity and zero.)
Have you asked Siri “What is zero divided by zero?”?
As best as I can tell, it is quite difficult to build an insider trading case. Very few people seem to be convicted, and none of them are the really big guys. Stock market manipulation is a crime with high payoff potential relative to the likelihood and consequences of being caught and convicted.
Cookie Monster sad!
The ‘bottom’ seem to have dropped out today.. AAPL lost about 5.2% as of closing today for a new 6 month low. Analysts can be wrong both ways.. 😛