“News broke on Monday about a ban on iPhone imports and sales in China — and as you’d expect, a chorus of analysts freaked out about it immediately,” Mike Wuerthele reports for AppleInsider. “Cue panic, with the vast majority of freak-outs completely ignoring the fact that Apple isn’t shipping phones with iOS 11, and that the iPhone XR, iPhone XS, and iPhone XS Max weren’t banned in any way.”
Jim Cramer from CNBC interrupted the day’s TV programming on the network at about 1:00 P.M. eastern time, with comments from Apple. In short, Cramer said on the air what AppleInsider said at the time of publication, that the ban was limited to iOS 11, and wouldn’t have any material impact to speak of on Apple. For a short time, Apple stock was in the green in a challenging market,” Wuerthele reports. “However, a fresh round on analyst input on the matter emerged overnight, seemingly unaware that the ‘ban’ wasn’t really one at all, and just an arrow in Qualcomm’s quiver to use against Apple in the ongoing legal skirmishes around the world.”
Read more in the full article here.
MacDailyNews Take: As we wrote when the news of this “ban” broke: “Much ado about nothing.”
SEE ALSO:
Apple denies iPhone import ban in China – December 10, 2018
China ‘bans the import and sale’ of most iPhones, Qualcomm claims; Apple says iPhones still available – December 10, 2018
‘ Most’ Investors needlessly panic, period .. and unfortunately to their own demise more often than not.
Downplaying to avoid a panic is understandable, I suppose, but if you read the analysis of the decision, iOS 12 devices aren’t impacted only because they didn’t exist at the time the suit was filed.
There’s a fine chance that iOS 12 infringes in the same way, so an amendment to the suit could easily include the current generation of phones & tablets.
I still have no idea who an iPhone XR is for? I’m sure most people would just pony up an extra few bucks a month to future proof with the Xs Max or save money with the largest old iPhone.
needless to say, I’m buying a few AAPLs now and upgrading soon.
I’ve always wondered exactly who these investors are who seem to dump their Apple stock due to rumors. I’d partly thought it was just trading algorithms that see some change and then the algorithms simply dump the stock. I wouldn’t have thought it was an actual person who decided. Of course, there are plenty of day traders who buy on margin and aren’t willing to take any long-term risks.
I suppose investors such as Warren Buffett are relatively rare and might be willing to ride a stock even to low levels and simply sit back and collect dividends through the rough periods. If an investor really believes in a company, why would they drop it so quickly? Apple must be loaded with cowardly day traders or something. But then again, maybe the way Apple is being run (putting so much dependency on the iPhone) that causes investors not to have any confidence in the company. I wouldn’t have believed Apple could have fallen so far, so fast after it passed the $1T mark. I was so wrong.
Anyway, the entire market has tanked so I guess there are a lot of cowardly traders out there or it’s just trading algorithms running wild. Truthfully, I must have a very poor understanding of the stock market. So little of how the stock market moves make any sense to me. All I know is that Apple seems like the biggest loser of all the tech stocks. All those revenue and profits aren’t worth anything as AAPL stock continues to remain highly volatile despite such a relatively low P/E.
Well I’m an investor who dumped 20% of my Apple stock back in early August to take some profits. I’ve done it several times just before. when I consider that at least a 10% stock price fall is on the horizon. And the $trillion line was just such a horizon.
A 10% fall is the comfort zone mark that allows me to buy back in and take some profits without losing too much to capital gains taxes. I think $165 is on the cards but I’ve already bought back in, triggered @ $169.
There are lots of investors like me – certainly not panicking, but relishing an opportunity and this drop is a huge opportunity.
APPL is not Apple.