“Consumer electronics giant Apple saw its shares fall sharply Wednesday, a day after the company reported mixed December-quarter results and gave a cautious March-quarter outlook,” Patrick Seitz reports for Investor’s Business Daily.
“Apple stock was down almost 5% to near 95 in midday trading on the stock market today. It closed the regular session Tuesday at 99.99, up 0.6%,” Seitz reports. “At least eight bullish analysts cut their price targets on Apple in the wake of the company’s Q1 report. The eight maintained their buy ratings or equivalent on the stock.”
“For the March quarter, Apple expects sales of $50 billion to $53 billion,” Seitz reports. “The midpoint of its sales guidance would represent an 11.2% year-over-year drop in revenue. Wall Street had been modeling for sales of $55.48 billion in fiscal Q2.”
Read more in the full article here.
MacDailyNews Take: Mixed December-quarter results or, in other words, the largest quarterly profit ever posted by a single public corporation.
SEE ALSO:
Apple’s surprising new $20 billion business – January 27, 2016
Jim Cramer: Apple Inc. is set to outperform – January 27, 2016
Apple CEO and CFO see broad global economic ‘weakening’ – January 27, 2015
Most Apple analysts maintain positive ratings, but cut price targets – January 27, 2015
Piper Jaffray: iPhone resume growth in 2016 despite poor macroeconomy – January 27, 2015
Apple highlights services in search of Wall Street’s love – January 26, 2016
Apple reaps $18.4 billion quarterly profit, the largest ever recorded by a single public corporation – January 26, 2016
Apple beats on earnings; sets all-time records for revenue, net income, and EPS – January 26, 2016
MacDailyNews presents live notes from Apple’s Q116 Conference Call – January 26, 2016
Apple beats Street with all-time record quarterly earnings – January 26, 2016
Mdn.. Add to your comment… ‘Accomplished Against massive headwinds”….
And tough compare to last years q1 and q2 due to overwhelming pentup demand for larger formn factor last year.
Normalize the last few years and u will see that the growth trajectory looks just fine….
We have about 6 months of dulldrums And Too much kneejerk reaction and ignorance out there.
comes spetember when we will have a new blow me away cycle starting…..
And headed lower – much lower, the bears will have a hold on this stock until Tim announces a new phone this September or so, hopefully he doesn’t screw it up again – hahahaha
Much lower is a relative term… By how much do u think it will go down…. Mind you their cash is almost half of the cap value… Pe is 10… How much lowerr will it go for a company that made 18.4 billion last quarter….
How much lower? I put the bottom at 83.
This is a issue with world economy we are heading for 2008 all over again, inflation is rising and house prices are out of control its like average house price is £300k here uk average and london £500K. Salaries are not going up, oil prices are down and the countries producing oil are loosing money. Not to mention the nearly £270 Billion loaned to Oil companies who are struggling to pay this back to name a few issues here in the UK
What inflation? Commodity prices are dropping swiftly.
One would have thought that the market had “priced in” a subpar result depreciating AAPL >30 % since the all time high. Since this was an unexpected more than decent (at least) Q1-bookend the stock would survive more or less +/- 0. But, the sheep at WS always find some number to rectify bashing AAPL. Well, this was expected. One wonders at what level WS will be content that all bad news are priced in…
In the seventies my guess – funny WS doesn’t pick on other stocks – there is something here they don’t like, maybe just maybe its Tim Cook trying to defend and save the world all of the time and consistent botched product releases – just saying
Would it be nice, if WS come out from hiding and cough out straight to Apple face, what is the reason, Apple bothers them ,why they don’t like Apple, which make life easier for everyone.
Even Facebook is doing better, FB reported $5.36 revenue and stock shoots up 12.44% to $106.20. We are living in a crazy world.
That’s because the system is rigged. Investors in the most profitable company in the world should be making the most return on their investment. But instead, they are experiencing a high level of loss.
Meanwhile, they’ve successfully managed to make us believe this is normal and OK.
My belief is Steve pissed off multiple big wigs on Wall Street and they will never forget. Their goal is to destroy and then sell off Apple in pieces and parts, just to satisfy their ego.
It’s the only thing that makes sense.
Aka, Michael Milken.
Interesting point, first time I’ve heard this. Wall Street is going nuclear on Apple.
India looks bright. Diversity.
Yeah! Diversity! That’s the ticket!
It is amazing how Facebook is the darling of Wall Street and Apple isn’t – Apple has more recurring revenue from services than all of facebooks revenue and with every new item Apple sells that service revenue keeps going up.
AAPL just doesn’t get any respect. It’s never good enough. I’m sure if Tim Cook feels bad he just needs to log in to AAPLs bank account for a quick pick me up.
AAPL is like a sleeping lion and Wall Street is like the school children that keep throwing rocks at it to get it to wake up.
I think Tim Cook was really pathetic in the Conference Call. The franchise that Steve built (iPod, iPhone, iPad) is nearing its maturity point. Tim has been a top dog now for several years and he has been reaping the benefits of what Steve did. What did he contribute? Virtually nothing. He chose the easiest path of paying dividends and buying up shares as if that would solve the problem. This dumb solution has not worked and Apple stock despite record profits is the laughing stock of the market. It is getting less respect than a penny stock. All mistakes can be forgiven if people learn something from their mistakes. But Cook learns nothing. Apple Stock will hit $70 soon and millions of small shareholders who have been in love with this company will suffer. Does he realize that keeping billions in the banks offshore is of no use if Apple brand is being damaged each passing day. If you can’t come up with a good idea with that much money in the bank, you don’t deserve to be a CEO. I think a time has come for a movement that says: Cook should be fired.
I’m giving up bothering to make fun of the current WallNut Street insanity. It’s an epidemic of FUD, hysteria and blatant Apple Bear Bullshit. I’m sick of the innate idiocy and prefer to focus on happier and sillier things.
All I know is that I can’t imagine a more SOLID stock on WallNut Street that AAPL. That’s the fact! It’s current price is an incredible deal. Watch Apple the company thrive on! And enjoy.
Onward into the future!
There is one reason why Apple didn’t do better: A missing iPhone 6S with 4″ display and exactly the same features as the iPhone 6S! The same mistake Cook made by waiting to release a 4.7″ and 5.5″ iPhone some years ago. People want all three sizes!
People on Wall Street are idiots. How else do you explain credit default swaps.
Any new investor would be a fool to put money into Apple. It’s a no-win investment when there are plenty of other stocks to make huge gains from. I think if a person put a dozen obscure stocks into hat and blindly picked a couple for the purpose of share gains, they could make more money than picking Apple based on fundamentals. Buying Apple stock is like drinking cyanide. It’s almost a guaranteed death sentence.
What’s worse, it’s not because the company is struggling but because the company carries a huge black cloud of impending doom that can’t be removed. It could be a conspiracy or maybe the death of Steve Jobs simply won’t go away. Whatever it is, it’s bad news for new investors. I’ve owned Apple for a long time, so I’m well ahead. However, for new investors to blindly throw away their hard-earned money on Apple, it doesn’t make any sense in drinking poison.
Wall Street is gambling house of cards. Always has been. In bed with government. Hates companies that have real assets and real income.
Faux-stocks.
Stock Market 101: Wall Street doesn’t control, decide or “set” the price of a stock. Nor does it “reflect” to state of the economy, let alone the state of any company represented.
For example, the success of Apple (or lack thereof) has no direct effect on the price of Apple’s stock. Rather, when traders are (in general) more interested in selling it than buying it, the price of a stock declines. The opposite is also true.
If you “Play” the stock market (trade) you quickly discover the only way to make money on a rising stock is to be among the first to buy it (when it is still low). And the only way to avoid losing money on a declining stock is to be among the first to sell it (when it is still high). The net result, folks, is traders don’t watch the company behind the stock. They are watching each other. If a few start selling a stock, the rest rush to sell it, too. If they hear some news (or some analyst’s comments) that they think will cause other traders to react, they will try to be among the first to so react. Thus they become a self-fulfilling prophecy.
Investors, on the other hand, are interested in the company. They buy and hold for the long term. For them, it’s a savings account with (hopefully) a better return. But because of this, Investors don’t influence price changes in any way.
Wall Street is not smart, stupid or clueless. People who cry, “They just don’t understand Apple,” don’t understand the market. It’s a mob-mentality, pure & simple. They don’t care about you, me or Apple. They only care about each other and any “skill” they may have is simply the ability to predict what other traders might do before they do it.
I’ll get off my soap-box, now.