“Apple Inc. shares were trading lower by $0.50 at $105.26 in Monday’s session,” Joel Elconin reports for Benzinga. “It rallied $16.80 from its low off the open ($92.00) to $108.80 before falling back to its current level.”
“After a sharply lower open ($94.87 vs. Friday’s close of $105.76), it revisited levels not seen since June 30, 2014 at $92.09,” Elconin reports. “That was put in place as the issue was on its march to its all-time high on April 28 ($134.54) that was made following a better-than-expected Q2 earnings report.”
Elconin reports, “The issue, which turned north well ahead of the broad market, was deluged with sell-stops and margin selling that were the major factors for such a sharp decline.”
Read more in the full article here.
MacDailyNews Take: Hopefully you didn’t get negatively impacted with any AAPL sell-stops this morning!
SEE ALSO:
Apple CEO Cook may have violated U.S. SEC rules with email to Jim Cramer – August 24, 2015
Apple, after big drop, leads recovery of Dow Jones Industrial Average – August 24, 2015
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
And down it goes $5 back to $103. There are much bigger market forces at play here than any one stock. How China fares this week will strongly determine (pure emotion) if the Markets continue significantly up or down.
Amazingly and strangely high volumes today 161,497,113.
Such a crazy day, but above all, we are all survived, that is good news. lol.
$85. Soon.
GM?
It doesn’t take a genius to see the overall market sentiment and make predictions that completely don’t matter in the long run. Are you waiting for this price level to buy? Or are you just trying to troll the site?
I told you $100. And I was right. Now I’m telling you $85. Go ahead, vote me down. I’m just trying to tell you the truth. It’s not my fault. Go ahead, lose your ass. Oh wait, you’ve already done that. Down for more than eight months now.
Ah. A troll, then. Have a wonderful day.
Ah. A fanboy.
Yep, GM..
So you are the only one in the world that knows the truth? That’s called arrogance and ignorance.
if it goes to 10 I’ll still hold
Apple can buy back all the stock sold for peanuts.
then I’ll ask TC to do an extraordinary dividend: the last few remaining aapl holders can divide Apple’s 100 billion plus cash reserves (200 billion plus minus debt and buybacks, note Apple shoves in 10 billion in profit every quarter)
I’m making a extreme statement above of course but there’s reality there.
think : what’s the DIFFERENCE between Apple today and yesterday before the crash: Nothing. The crash was just due to investors doing their thing, nothing with fundamentals of Apple’s business. Will mac users stop buying macs because the stock is down: nope. apple will keep sucking in cash.
Apple PE is round 12 (even lower ex cash) so what it means that at CURRENT prices it will take apple just 12 years to make the equal of the stock . (note that’s just from earnings , not even dipping into using cash reserves). when you have Netflix with PE of 180 or even Goog at 30 you have risk, aapl not so much.
Stuff like this is exactly why I have never set a stop-loss sell, and I never will…it’s way too easy to get screwed by short-term market wonkery.
Maybe if you people looked at the entire Stock Market, you would notice that Procter & Gamble is falling, CINF is falling, everybody is falling, so whimpering about AAPL is nothing but tunnel vision!
Apple was down today, no such rally.
I think the point of the article is that there was a rally from the opening price which was unusually lower than the prior closing price. So it ended higher than it opened and only a few dollars lower than the prior close. Some daytrader must have made a killing this morning playing that rally.