“Hold on your iPhone, even technology cash-cow Apple has been hit by Friday’s market mayhem,” CNBC reports.
“Shares of Apple entered bear market territory Friday, dropping more than 20.29 percent from their April 28 high of $134.54,” CNBC reports. “After its shares plummeted more than 4.5 percent for the day, Apple joined nine other Dow components already in bear market territory: Proctor & Gamble, IBM, Exxon, Intel, Walmart, Caterpillar, United Technologies, Chevron, and DuPont.”
“U.S. stocks traded down more than 2 percent across the board Friday afternoon, with the Dow hitting a session low after headwinds from pressures like lower oil prices, Chinese market volatility and lack of positive macroeconomic news. And Apple is one of many technology companies feeling the pain,” CNBC reports. “The S&P Tech Sector selloff, which trails only the energy sector in severity, marks worst week since Jan. 30, when the sector lost 4.11 percent. The majority of technology index components — more than 63 percent — are trading down more than 10 percent from yearly highs.”
Read more in the full article here.
MacDailyNews Take: YKBAID.
It’s a good thing to flush out those prone to panic.
Apple has an excitement problem.
Personally, I don’t see it changing for 6-12 months. TV won’t change it. 6s won’t change it. Yosemite? Whatever. What could? Watch 2 — maybe, and iPhone 7 redesign — maybe. Thus next April or next September.
Until then AAPL languishes as people worry the gravy train is heading into the station.
I don’t think you’re wrong, at least as far as how the g̶a̶m̶b̶l̶e̶r̶’̶s̶ ̶d̶e̶n̶ stock market views Apple. I just think it’s bullshit.
No, you’re wrong. He’s correct. The new phones are expected, and will do well, but will not move the needle for the stock. Nor will a new Apple TV. The company is doing fine and still making great products but we’re talking equities here. Either youunderstand the stock market or you don’t. And apparently you don’t. AAPL will do well when there is something to motivate buyers to purchase it. Sure they make the most profit on phones and China may or may not be slowing the iPhone sales for Apple? But Apple is a huge company and it takes a lot to move the stock price up. You can still love Apple if you are a fanboy. You can still buy Apple products because they are the best, no doubt. But when you invest your money you have to use your head. You have to use common sense when investing. If you have held Apple for many years you are ok. And that holds true for many stocks. But past results is no guarantee of future performance. That’s investing 101. It’s the first thing you learn in high school. Try to remember those things when you put your money down. Getting angry at Wall Street won’t make you any money. It’s not some conspiracy against you and Apple.
Reading comprehension would help. I hinted pretty strongly that the stock market is designed in such a way as to value the wrong things. You tried to say I don’t understand how it works. If you don’t realize those are orthogonal arguments, let me try to explain.
I said that NB was probably correct about how the stock market views Apple’s situation. I then said I thought it was bullshit. The reason I said that is because the stock market is a human invention, designed to operate a certain way. It is not a physical property of the universe, so trying to say that it is above criticism is nonsensical.
this is all about China. Or to be candid, as AAPL approaches the zenith of its SAMN cycle, it’s correcting +-BUN in emerging markets regardless of PLUM.
Minor correction to an otherwise near flawless summation Squiggles.
correcting + or – BUN requires SOS to balance the equation, so that:-
+ or – (BUN < or = PLUM (SOS))!
Discuss…….
I agree with the excitment problem.. As a matter of fact i have been bombarding appls with mail and feedback in this area.
Apple PR has to get into high gear.. Unless this is by design and they are loveing the low prices for their buyback program.
That said . … Earnings results bucking the trends will turn it around overnight ! Expectations are getting tamer…..
We have 2 important ones coming … October and the big one..January !
I disagree vs Apple PR. This has NOTHING to do with Apple performance. Its all about the Market and Wall Street making things move up of down. The value of Apple has not changed one bit in the last month.
Just manipulators throwing BS around to drive prices. Steve Jobs was right. Forget the market stock price. Focus on product. OH yeah, and buy back when the price is down. LOL all the way to the bank. 🙂
Google was down over 5% today and is down roughly 10% since their recent high but I don’t hear much Sturm und Drang about that.
Apple is doing what they should be doing, building value by building and selling great products.
Contrary to earlier posts I think the 6S and 6S+ will be big hits. This is not for people upgrading from the iPhone 6 this is for those with earlier models upgrading from expired contracts.
If the iPad Pro rumors pan out that is icing on the cake.
Volume today was about 2% of outstanding shares. The vast majority decided to hold for future growth.
A LOT of people’s contracts on their iPhone 5S’s will be expiring allowing them to get a new iPhone 6S or 7 or whatever it will be. Further, iPhone 6 purchasers like me, who chose the new non-discounted, no-interest payment plan will also be eligible to upgrade. I had been a big champion for a bigger iPhone and jumped on the 6 Plus. I love it. But with the advent of the Watch, I find myself actually handling my phone less. I’m considering moving back to the smaller version depending on the feature offering.
AAPL is effectively a liquid asset for many investors. We are now getting into territory where the overall market action is triggering stop losses and margin calls, which historically have had a disproportionate impact on the stock. Something similar happened in 2008-2009. Those on margin got hammered. Those able to weather the storm and buy into the dip were rewarded handsomely.
Analysts got to carried away thinking Apple could keep beating the inflated WS numbers. Hopefully now the analysts will come back to earth.
I remember as a child reading a feature on the aircraft carrier USS Enterprise. If you idled the engines, it would coast for 7 miles. Once something large starts moving meaningfully in a direction, it takes a while for that momentum to dissipate. The 50 day moving average will tell you what you need to know.
I already know what is going on – 100% pure stock manipulation. There is nothing about Apple’s fundamentals that is causing this plunge. More of the same BS from the biggest thieves in the world, Wall Street.
Ahhhh.. Voice of inteligance…..
This is why we badly need a significant tax on the sale of stock. Such a tax would have almost no impact on long term investors but would make such manipulation FAR more risky and far less likely to be profitable.
Hey. I make money by buying apple low and selling high. Over and over and over. Lol
There is a significant tax on the sale of stock for short term sellers. Capital Gains tax. Long term owners to have a less significant tax on the sale of stock. Long term Capital Gains tax.
second biggest thieves, the Federal government is still the king.
Where the heck have you been hiding? 😉
broke outta reform school this morning.
What could? Watch 2 — …
Yes, and how about a Dick Tracy watch. And a watch with a larger screen.
Apple has come out with the largest screen I-Phone, and the smallest screen watch. How about a four inch screen watch with muli-conferencing. Talk to four people at a time. Maybe I’m kidding.
Maybe NOT.
Not I-Phone, iPhone. This is a very easy thing to get correct, and if you cannot get it correct, no one who cares about Apple will take anything else you have to say seriously.
Do not make this mistake, you lose all credibility and look like an amateur.
Buy At below $95
Well I’m down big time on the year. All major spending plans, trips, home upgrades are now scrapped indefinitely.
Dont feel alone… Many of us have to do this..
But long run is where we win.. Hang in !
OH – MY – GAWD !!! No excitement for SEVERAL MONTHS !!! What a disaster!
No. What a freaking stupid giant monopoly game. But not only that — a giant monopoly game run by a bunch of sociopathically greedy jerks and idiots. What a world!
With sec in their pockets it seems like.
Lessons i have learned in the past 10 years through the market.
DOJ, USPTO, SEC…. Broken !
They seem to be more in someone’s pocket than out there protecting the consumer or Businesses
hush and drink your cocoa.
I’m planning to wait for $90 and then buy buy buy!
-jcr
You shouldn’t have long to wait.
P T B
?It’s a good thing to flush out those prone to panic.” —MDN
Where I come from, we call them “small-brained beings”.
It’s a good time to… Pick up AAPL for cheap. But I’d wait until an bottom bounce is evident.
It’s been fascinating listening to all the hypothesizing about what made the day traders go into PaNiC mode. There were a number of fairly innocuous factors that apparently added up to spooking the cattle into a sTamPEDE!!!
🐂🐄🐃🐄🐂🐃🐄🐂🐃💩⚡⚡🐮📉📉📉
This is just the beginning. Tim “Apple Ballmer” Cook is driving Apple into the ground. It will go a LOT lower than $95. And fools will part with their money on the way down. Maybe then, will the board widen up and fire Cook and his little lapdog Ive too.
Buy sugar when the price is low. Everybody will want some sweet tea. I’m in for the long haul. And just went in quite a bit more. I say it’s a discount market and I’m shopping. The goodies abound!