Posted on 08/05/2015 4:27:17 AM PDT by dennisw
The world's most valuable public company saw its stock price drop for a fifth straight day on Tuesday
Apple shares are down 14 percent since closing at a record $133 in February That loss breaks down to $113.4billion in paper wealth
iPhone sales were not as good as some analysts predicted, and the lukewarm forecast for the current period is causing the drop
World's most valuable public company saw its stock price drop for a fifth straight day on Tuesday, falling as much as $5.19 or 4.4 percent, to $113.25 as investors fretted over China's economy and whether Apple can keep growing at the pace it's maintained over the last few quarters.
Apple shares are down 14 percent since closing at a record $133 in February. That puts Apple in a 'correction,' which is Wall Street jargon for price declines of 10 percent or more from a peak.
That loss breaks down to $113.4billion in paper wealth according to USA Today.
The stock also dropped below its 200-day moving average, a technical indicator that traders use to gauge momentum.
Shareholders are also worried about recent hiccups in China's economy, because the country is viewed as one of Apple's biggest markets for expansion, said Daniel Ives, a managing director and senior analyst for FBR Capital Markets.
He added that investors are looking ahead to the December quarter, which is traditionally Apple's strongest. The company sold 74 million iPhones during that period last year, a 46 percent jump. But it will be more difficult for Apple to show that kind of growth again.
Apple is now a 'prove me' stock for some investors, said Ives, although he added that new products like Apple Pay and the expected release of new iPhone models this fall could give the company a boost.
(Excerpt) Read more at dailymail.co.uk ...
Wow. You’d’ve thought I finally bought stock in Apple last week.
That’s my track record.
Maybe Tim Smith should have been worrying about his company instead of butting into Indiana’s attempt to protect Christian businesses from the homosexual jihadis. We will not give Apple another dime.
lol...+1.
“Fluctuation...”
Well, fluck you too, Amellican!
Ha! Now that thar’s funny Ah don’t care who ya are!
Tim Cook.
You are correct otherwise.
While the entire laptop / desktop sales have been declining, Apple has been dropping less and gaining market share on Windows sells for a couple of years in both spaces.
Tablets have also been eroding laptop sells. Now tablets are hitting a point where their computing capability has slowed their replacement rate. People are happy with their performance longer and are buying less often.
I think the market is stagnating a bit until the “next big thing” spurs upgrades. For now, the market saturation level has it in a primarily replacement mode.
Thank you.
I’m here every morning.
Don’t forget to tip your “server”.
Ba-dum. CHING!
I guess Tim Cook will too busy for gay propaganda in the foreseeable future...
The homo-nazi CEO will have fewer millions to spend on oppression. His sycophant customers don’t care.
The MacBooks have excellent hardware, but OSX has been behind for a long time. XCode, their software development environment is buggy, their base programming language Objective C is about 30 years old. They introduced Swift last year, about 15 years too late.
The core of OSX is solid but it is still in a nitch. What they really failed to understand was their software development tools need to be years ahead of demand not merely following demand. Not to mention their lack of testing before release. I’m not privy to their internal procedures, but ‘Rock Solid’ does not describe their products.
Maybe Microsoft’s backward compatibility monkey really forced them to produce a better product in a lot of ways. The Registry is their one big problem they need to address.
Whatever will Tim Cook do?
I didn’t see the iWatch as becoming a “thing.” Too many redundancies yet you still need to have a phone and an iPad. I see this as their first really big mistake. But Apple will be back. At some point, Apple is going to be a huge buying opportunity.
SSD and more RAM are the #1 and #2 most useful and significant upgrades anyone could do to their home machine.
I bought some at 114.80. Will buy more at 104-105. Will sell ammo, guns, beer and toilet paper to buy some below 80. Its a growth stock paying a 1.9% dividend that is 40% cash. Hard to get that anywhere else. We are seeing the scared cats and margin calls with news of china doing this. WIll I own AAPL in 5-10 years? dunno. Next 2-6 quarters! You betcha!
Probably the next breakthrough will be the hologram technology that allows you to ramp up to a giant-sized "screen" from an iPad-sized device, but of course, even that will have severe limitations with sunlight, etc. Nothing wrong with the technology maturing a little.
Especially if they get a new CEO who doesn't want to prove he is another Steve Jobs by betting the farm on the (doomed?) iWatch.
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