The Nasdaq Composite index is officially in a bear market. The Nasdaq tumbled 3.6% on Monday, pressured by soaring oil prices, rising interest rates, rampant inflation, continued supply-chain issues due to the various and sundry – rational and irrational – responses to COVID-19, and the ongoing Russian invasion of Ukraine.
Since closing on Nov. 19 at 16,057.44, the Nasdaq Composite has now fallen 20.1%, crossing the 20% threshold that traditionally defines a bear market. It’s the first time the market has taken a hit that hard since the early months of the pandemic in 2020.
There haven’t been many places for tech investors to hide, and many stocks long since entered their own private bear markets, as investors fled high-growth, profitless, high-multiple tech shares for safer climes.
Apple has been one of the stock market’s best hiding places, with a decline of less than 1% since the market top. An aggressive purchaser of its own shares, Apple is seen as a refuge, protected by both ongoing strong demand for the company’s flagship product, the iPhone, and a sterling balance sheet.
MacDailyNews Take: The great advantage of cash-rich, cash-generating Apple is that it’s a refuge from the vagaries of the market.
Three quotes from Warren Buffett:
• Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.
• Wide diversification is only required when investors do not understand what they are doing.
• Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.
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We need Biden gone! Absolutely useless along with Chuckes the Clown
Can you dig a little deeper to include Trudeau in that hole?
Stupid math by the OP. AAPL is -13% YTD. Trump must be doing the math to get to -1%.
If Trump was in office Apple would be over $200 and gasoline would be $2.00, not $6.00. You ought to get a clue or be barred from ever voting again.
Way to pull numbers outta yer ass, you idiot. shutting off russkie oil is the American First thing to do.
You’re an embarrassment.
But to others who believe thinking is important, a market refuge is where it is expected (or hoped) it will not go down as much as the market while also prime to bounce up more if the market swings up.
Not very brite are yer, Original Mac User?
Dear Original Dummie:
If you had learned reading comprehension in school you’d have seen that the comparison was from the NASDAQ peak back on Nov. 19—NOT year-to-date. Get your act together before you call anyone else stupid, especially the 45th POTUS who is light years beyond your IQ level.
POTUS no 45 (he of the tiny hands) probably has an IQ of 45, which is way higher than most of the dum-dums that post here.
There is no greater proof of stupidity than voting for a lying, corrupt, racist dementia patient and a whore.
Didn’t know you felt that way about Donald and Melania…
…yet he still succeeded. Biden must be unresponsive to aptitude testing at this point.
he sucked, not succeeded. potus results don’t occur until years after the press conferences.
Funny. Biden’s’ catastrophic failures seem pretty immediate.
How so? Supply chains were thoroughly snarled before he stepped in the WH. Operation Warp Speed, much touted by the Republicans who believe in science, hadn’t finished off the phantom menace. In the face of warmongering Putin, Biden has done an admirable job rallying the democratic allies, supporting Ukraine without reckless military escalation, and sanctioning Russia to the stone age. Be glad your kids aren’t being drafted for WW3 right now.
Let’s get the important things right instead of bickering about stuff that no president could possibly get 100% perfect. Obviously we’d all prefer a younger prez but enough was enough of old ‘45. Bonespurs is an old fart hazbeen too. I prefer an honest executive who takes responsibility, starts his work day before 10, and works with others instead of spending the majority of his time berating everyone but foreign authoritarian leaders on social media. Until we get some new blood in office in 2024, let’s stop the bitter whining and work together toward pragmatic improvements for everyone. The NASDAQ closing price and whatever a president might have said to influence market fear&greed should not be the top priorities for anyone right now.
Admirable job? Are you on the same meds as Sleepy Joe?