“Apple stock tumbled to its lowest level in nearly two years on Thursday, following a report that Asian component suppliers are seeing weak orders related to the upcoming iPhone 7,” Patrick Seitz reports for Investor’s Business Daily.
“Japanese business publication Nikkei Asian Review reported Thursday that Taiwan-based tech suppliers expect to get significantly fewer orders from Apple in the second half of this year compared with the year-earlier period,” Seitz reports. “They cited the ‘ongoing slump in demand for premium smartphones and a lack of groundbreaking features for the upcoming iPhone 7.'”
“Apple shares were down more than 2.5%, near 90, in midday trading on the stock market today,” Seitz reports. “Apple stock has risen in only 4 of the last 20 trading sessions. Since hitting its 2016 high of 112.39 on April 14, Apple stock has fallen about 20%.”
Read more in the full article here.
MacDailyNews Take: A baseless report from Nikkei is all it takes. With their history of baseless reports, no less. No wonder the average Joe doesn’t trust the stock market as far as he could throw it.
Alphabet’s market cap tops Apple’s – May 12, 2016
Nikkei proclaims ‘iPhone 7’ Dead On Arrival; bemoans Apple’s ‘lack of innovation’ – May 12, 2016
So Nikkei knows even before the phone goes on sale?
The bottom is dropping and the stock is flooring!
The investment public has ZERO confidence in Tim Cook.
The only people that are still drinking Cook’s Koolaid are die hard Apple fanboys who refuse to admit they bet on Cook (or the fact that they were ignorant enough to buy an Apple Watch).
If the board doesn’t step in and stop the bleeding, Apple stock will see the non-roaring 20s… and shareholders who held on to the decks of this Titanic wont be dancing the Charleston!
The “public” you say? Or fund managers?
In any case, this has nothing to do with Tim Cook. It has only to do with fund managers being able to push AAPL up and down. Trades are how they make there money. The more the stock moves, the more money they make.
Probably the ‘public’ seeing as how AAPL in relation to its peers has the lowest institutional ownership (way more private investors).
“… or the fact that they were ignorant enough to buy an Apple Watch…”
lol – this comment alone shows how worthless your comments are.
I use my Apple Watch all the time, and love it. It is a really awesome device.
Please take your worthless, trolling comments elsewhere.
Different name same person. Blah, blah …. fire Tim, blah, blah, blah.
EXACTLY. This is the point of this/these person/persons using anonymous coward bullshit nicks. They can pretend to be as many trolls as they like. Inside, these liars hate themselves and are merely mirroring their self-loathing on any handy target in the world at large. I’ve worked with such scum. They’re remarkably predictable.
I suspect Doofus Joe from Trollville, MO is back. No one cares what frivolous hating thoughts are going through your IQ challenged head.
One Note Joe is outstanding in one regard — how many different ways he makes the same empty declaration.
True enough. He has nothing to gain except looking like an inept, rabid anti-Apple fanboy. A pitiful life making zero contribution.
I see you have absolutely NO idea how the market actually works. So sad. So lacking in brains. 🙁
Some people/companies are desperate to play the vulture.
Sorry. No rotting meat for you at AAPL.
Go hover above AMZN and GOOG and wait for their balloons to pop.
And where is the Superman who will save Apple? Who do you have in mind?
Iphone 7 better be impressive!
Ok.. Iphone 7 better not be impressive !
After the way Apple, and others, were treated by the Xi Jinping Chinese government, It should be no secret that Apple is diversifying their suppliers so not all their eggs are one basket.
The better question is, why did Apple’s “supply chain genius” outsource to the max to countries well known to have no effective legal protection for technology? Apple effectively created its own competitors when they started outsourcing production to Korea and China.
Quick answer would be “Increase Profit Margin”.. Just like the majority of foreign companies outsourcing to China, SE Asia, India.
You are like a stalker aren’t you troll dude/dudette. Are you a pediphile too?
hey good, incisive, thoughtful, educated point silverhawk. no doubt mike has a thing for feet.
An excellent insight The Other Steve. I’ve never understood Apple’s investment in crooked China.
As if the report was actually the cause of the drop… Not. It is rigged and manipulated. Look at other tech stocks as well. Come on.
Amazing all the people who have the inside scoop and know what Apple is going to release in September! Even more amazing all the people who continue to believe that someone is able to have the inside scoop. Real truth is, 6s and 6sPlus owners really have a device that is plenty good enough already and have to be utterly blown away for them to have to upgrade. That there is sign of a saturated market. A feature rich saturated phone market is Apple’s problem, not Tim Cook or anything else. People just aren’t gonna get their doors blown off any time soon…they’ve set their expectations way too high. Anybody seen anything from Google or Samsung lately? Huh? Water resistance and low light camera! Wow! Corrosion will happen eventually.
I have a 6 Plus, which is the best electronic device I have ever owned. I did not upgrade to the 6s Plus because that phone looks identical to my 6 Plus and because the improvements didn’t capture my desires. If the 7 also looks like the 6 Plus, except for non existent antena lines or a different camera, then I won’t upgrade to the 7, unless there is extremely compelling features like wireless charging from a distance, 5G, holograms, a chip that can prevent VR latency (dizziness), etc.
Some have argued that because Mac computers haven’t changed their look in years, except for the new MacBook, then why should the iPhone change? 1. The majority of people don’t upgrade their MacBook every 1-3 years. 2. People carry their iPhones everywhere they go and when used in public they don’t want to look like they are wearing outdated Mom jeans.
Others argue that the SE is selling OK even though the case design is years old. 1. They could probably sell millions more if the design had been updated. 2. That phone is $399, which is significantly cheaper than an iPhone Plus. 3. Many SE owners use iPads as their daily drivers, instead of the iPhone Plus. These people don’t necessarily care that it is smaller; they just need the basics.
f China…America first.
You should realize that the Fortune 500 companies are actively f’ing America by putting China first, and they have been ever since Tricky Dick Nixon decided to make China a trading “partner”.
Despite the doublespeak, “Free Trade” has proven to be a sham whereby corporate executives line their own pockets as they kill American small businesses and jobs in order to deliver goods that are cheaply made, and also disposable, toxic, and/or produced in a communist nation with huge trade barriers to incoming American-made goods. But Wall Street doesn’t care as long as they get rich while talented American workers slip quickly into poverty, and seeing total lack of job retraining or new business opportunities. Of course it’s not just Chinese labor. American companies also are happy to support brutal regimes for cheap oil, blood diamonds, and so forth. How could a decent middle-class American possibly compete? Wall Street demands the race to the bottom, a game which Cook seems hesitant to play but is playing nonetheless. Instead of using Apple’s cash to innovate hardware, improve working conditions, and diversify production, he has taken on debt to please Wall Street and is paying his Chinese Foxconn laborers the same rate as the cheap plastic iPhone knockoff that is being assembled one production line over.
No, this is not political. Both corrupt US political parties are part of the brainwashing.
Until the world develops a fair trade policy by which labor standards are meaningful, resource and environmental protection is forward-thinking, and asymmetric trade barriers are eliminated, Wall Street will continue its hideous economic colonization. And sadly, Apple is no longer significantly different than any different than any other corporation.