“Apple Inc.’s late-day rally ended just shy of positive territory Monday, giving the stock its longest losing streak in 18 years,” Tomi Kilgore reports for MarketWatch.
“The technology giant’s shares closed down 0.1%, paring earlier losses of as much as 1.4% at the intraday low of $92.40, to suffer an eighth-straight loss,” Kilgore reports. “That is the longest losing streak for Apple since an eight-session stretch that ended July 28, 1998… To put that in perspective, Apple released its first iMac personal computer more than two weeks later, on Aug. 15.”
“Shares have tumbled 13% since last gaining ground on April 20—they ticked up 0.2% that day—including a 6.3% plunge on April 27 after Apple reported disappointing quarterly results,” Kilgore reports. “In the 12 sessions since it peaked at a four-month high of $112.10, Apple stock has suffered 11 losses and has plunged 16%.”
Read more in the full article here.
MacDailyNews Take: To paraphrase Frank Zappa: The stock market is making something out of nothing, and selling it.
SEE ALSO:
Apple CEO Cook to appear in person on CNBC’s ‘Mad Money’ with Jim Cramer at 6pm ET – May 2, 2016
Apple now makes more money from services than by selling Macs – May 2, 2016
Apple’s $10 billion quarterly profit is not enough? – May 2, 2016
this is like winning the superbowl for 18 yrs straight then having a 2 game regular season. “losing streak”. This is still a superbowl team. This is not the end. Great buying opportunity!
Carl Icahn, who has made more money than you, disagrees.
You actually care about Carl? 😛 How much of this ‘losing streak’ is simply him selling out? Asinine.
Who wants a stock that’s constantly in the spotlight as being a loser? Day in and day out there are articles being written Apple’s monumental incompetence. A company loaded with cash and yet the value continues to plummet. It’s being lumped in as a bogus investment with Yahoo.
A company has to have really poor management to allow something like this to happen so easily. It’s not as if Apple didn’t realize their iPhone business was at a precipice because EVERYONE on Wall Street was in agreement of that fact. It’s not as if Apple didn’t warn everyone of poor guidance and then sat back and watched it unfold without lifting a finger. When a company predicts rain and then goes out without an umbrella then they deserve to get soaking wet with criticism. Tim Cook is being labeled as a dunce next to Jeff Bezos and that may be rightly so. Everything Apple does backfires on shareholders which must mean something is messed up with the company’s tactics. Good fundamentals are worth absolutely nothing when the growth dwindles.
This value derailing is Apple’s “I told you so moment” that everyone had been expecting for years. Warned over and over again about only relying on the iPhone to be the one-trick pony, it finally happened. The pony broke it’s leg.
As an Apple shareholder, I’m not all that surprised because it was basically an inevitable situation waiting to happen. Apple was the only major tech company who didn’t provide a backup business ahead of time and so now shareholders just have to take a beating or dump their Apple stock. I’ve no reason to dump Apple as long as the dividends keep coming. I just sincerely hope Apple has learned some lesson from this totally embarrassing debacle.
As a (long) shareholder, I’m buying more. I believe this is a lot to do about price manipulation and the price is being purposely depressed. Follow the money on the shorts.
Comparing Bezos to Cook? Puleeze. That’s all pie in the sky. Apple doesnt potential growth like amazon because its making tons of money now. Amazon’s profit is much less so the potential is great- wall street loves accelerated growth and you cant do it forever. Again, im not in it for a quick buck. Ive had most of my apple stock for 15 years.
Yes I’m sure they’re really embarrassed making over $10 billion dollars worth of profit (with Tim Cook making Jeff Bezos look more like a Bozos) than Facebook, Amazon and Google together. If you’ve held Apple long like I have you know how unfairly the market has always treated Apple. Wall Street has never understood the company. This is a relatively minor dip and too much is being made of it. You sound like Bill Paxton’s nervous marine from ALIENS. A little perspective and maybe a pint or two please. 🙂
Apple made $10 Billion of profit in their quarter. Exxon made $1.8 Billion. I think it’s fair to say that Apple will be just fine. Stock price should never be confused with the health and profitability of a company.
Past success does not guarantee future rewards. Quit looking at history and focus on the present needs and wants of consumers then the future will take care of itself.
Just imagine if Apple was not in the stock market, all these crazy opinions would not be heard. Maybe Apple is buying back so much stock thinking that if the stock goes down low enough they can buy themselves out of that crazy stock market.
That’s not so crazy, Lenard. Apple as an organisation has grown so large it may need to split into divisions or spin them off, as happened with Bell Telephone (even though that was involuntary), in order to prevent decoherence.
Decoherence is what happens in a group when different, contradictory messages circulate. They tend to break up the group naturally, just like a divorce. We have heard of that starting to happen recently with Apple, and even with Google, and HP.
So if an Apple spinoff, like the Design group, went private, they could operate above the Wall Street fray, insulated from investment pressures that have plagued Apple and devalued its stock. More importantly, they would be subject to different rules about reporting their financials than a publicly traded concern. They would have more operational freedom.
If today’s Apple were to break up into a constellation of private companies, that yet operated together as a tight confederacy, Wall Street would be screwed. Sure, it’s an H. G. Wells science fiction story, but some of them actually came true.
If I was Apple, I’d be buy back billions of their own stock right now and love it.
Yes, WAY overreact much. Apparently, this is the result of Apple being the biggest company in human history AND the insanity that has become standard operating procedure on WallNut Street. It’s nothing short of ridiculous. But here in the USA, we’re being forced to get used to riduculousness, right on up to the peers of #MyStupidGovernment.
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Stock anal-ists are pretty dumb to say the least.