“Following a brutal 5.1% decline for the Dow Jones Industrial Average on Thursday and Friday, the setup was dire, and, alas, the blue-chip index opened the new week down as much as 1,000 points, or 6.6%,” Philip Van Doorn reports for MarketWatch.
“But sentiment changed quickly, as the index had fallen only 226 points, or 1.4%, at midday,” Van Doorn reports.
“Shares of Apple Inc. had led the 30 Dow components with an early decline of 10.2%,” Van Doorn reports. “But shares of the iPhone maker bounced back, rising [1.90%, up $2.00, to $107.76 at 12:57PM EDT.”
Read more in the full article here.
MacDailyNews Take: Hope you took your Dramamine this morning, Apple shareholders!
SEE ALSO:
CEO Tim Cook to Jim Cramer: Apple is seeing strong growth in China through July, August – August 24, 2015
Apple crashes under $100 in pre-market trading as tech stocks set up for dismal day – August 24, 2015
CEO Tim Cook to Jim Cramer: Apple is seeing strong growth in China through July, August – August 24, 2015
Apple pulverizes the Street with record third quarter results – July 21, 2015
Apple pounds Street with record second quarter iPhone and Mac sales – April 27, 2015
Apple destroys Street with all-time record earnings – January 27, 2015
Apple bulldozes Street with record quarterly revenue of $42.1 billion – October 20, 2014
Par for the links. Bump & Run Baby.
Man, SOMEBODY’s made a killing today. AAPL is already up 17% since the daily low, when it dipped to $92 while I slept. Pity the fools that sold at the low.
Down again. Probably best you were sleeping this morning. You sound like someone who should be investing in United States savings bonds. Or a passbook savings account. Or burying your money in a coffee can in the backyard. It’s folks like you that lose their ass and then blame Wall Street.
Apple leading is no coincidence, it just shows their power on WS.
I have to think the somewhat unusual email from Cook to Cramer had some influence on the confidence in AAPL today. That and bargain hunters!
And now I see Cook’s remarks _may_ have violated SEC disclosure rules. We’ll probably see more on this (it’s on Marketwatch now) today. Damned if ya’ do, damned if ya’ don’t! 😖
The corrupt SEC couldn’t find water if they fell out of a boat.
Don’t think so. I believe the only requirement is for company announcements to be made widely or publicly. As Cramer is a national “talking head”, this should qualify as a fair news announcement. But SEC could nail Cramer if he acted in his own self-interest ahead of announcing Apple’s news publicly.
Follow the earnings……
I think all those hedge funds that started taking short positions last week in AAPL freaked out when Tim wrote into Cramer this morning. They road the crash down smiling and then just dumped and jumped on the train ride back up.
It sucks and its crap but that’s their game and they are good at it. Key for “normal” folks is to recognize when that is happening. This is not over by any means. Don’t be surprised if there isn’t a sell-off before the end of the day.
THE SKY IS FALLING, THE SKY IS FALLING!
Glad somebody figured out China’s problems aren’t ours.