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Dow falls 500 points, dragged down by Apple
CNN Business ^ | 11/19/2018 | By Paul R. La Monica, CNN Business

Posted on 11/19/2018 11:21:14 AM PST by Red Badger

New York (CNN Business)Stocks fell sharply Monday, dragged down by reports that Apple's newest line of phones may not be selling as well as Apple or its investors had hoped. The Dow fell more than 500 points and the Nasdaq tumbled 2.8%. Apple's stock fell once more after the Wall Street Journal reported that Apple has cut orders for its iPhone XR, iPhone XS and iPhone XS Max. The new iPhones, which Apple unveiled in September, cost more than previous versions. The $749 iPhone XR is the least expensive new iPhone, but it costs $50 more than last year's cheapest model, the iPhone 8.

The iPhone XS Max can cost up to $1,449. The higher prices -- without many more features -- could be driving customers to keep their current phones longer or buy last year's models. Apple declined to comment about the Journal story or broader concerns about iPhone demand. Shares of Apple fell 4% and have now plunged about 20% from the all-time high it hit a few months ago, when Apple (AAPL) was worth more than $1 trillion. The stock ended a 5-day losing skid on Friday after an analyst at Morgan Stanley suggested that the supplier concerns are overdone. Apple, which is a member of the Dow, was hurting the blue chips too. Several makers of chips and other components used in iPhones have warned of soft sales and profit in recent weeks, citing sluggish demand for higher-end smartphones. To that end, shares of Apple suppliers, such as Qorvo (QRVO), Broadcom (AVGO), Cirrus Logic (CRUS) and even Apple's key Anrdoid phone rival Samsung were all lower Monday too. Samsung also makes chips for iPhones.

(Excerpt) Read more at cnn.com ...


TOPICS: Business/Economy; Culture/Society; Politics/Elections; US: California
KEYWORDS: 2018midterms; 4dchess; aapl; apple; avgo; bigtech; broadcom; california; cirruslogic; clintonnonnews; cnn; crus; djia; dow10000; dow30; iphone; iphonexr; iphonexs; iphonexsmax; nasdaq; nyse; paulrlamonica; profittaking; qorvo; qrvo; samsung; thanksgivingweek
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To: dfwgator

Because...........................Apple..................


21 posted on 11/19/2018 11:45:37 AM PST by Red Badger (We are headed for a Civil War. It won't be nice like the last one....................)
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To: chrisinoc

Think of it as, “Wall Street is having a sale.”


22 posted on 11/19/2018 11:45:52 AM PST by sparklite2 (See more at Sparklite Times)
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To: Red Badger

.
Its just the 5th generation system that’s at fault.

Nobody in their right mind would want to own one.

They’re absolutely deadly.


23 posted on 11/19/2018 11:46:52 AM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: qam1

I bought my wife a used iPhone X, but I think I’ll spend $1500 to upgrade her to the XS Max since that’s waterproof to 2 meters versus her X’s 1.5 meters. Also, her friends with XS Maxes are teasing her about her phone’s poorer benchmark scores.


24 posted on 11/19/2018 11:48:04 AM PST by MountainWalker
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To: cuban leaf

.
I just replaced the battery in my S5.

It wasn’t a total mess, but was showing significantly shorter life.


25 posted on 11/19/2018 11:51:04 AM PST by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: cuban leaf

I have an iPhone 6S which works just fine. DW dropped hers on in the toilet so she got a new XR and for the life of me I don’t see any reason to make the leap, even from 4 versions removed.


26 posted on 11/19/2018 11:52:45 AM PST by cll (Serviam!)
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To: Red Badger

Uh-oh!

Is Rush on today?

Because if he is, he’ll spend most of the day defending Apple.


27 posted on 11/19/2018 11:56:18 AM PST by Alas Babylon! (Boycott ABC, CBS, CNN, MSNBC and NBC!)
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To: Sarah Barracuda

I bought an LG Optimus phone four years ago (an android phone) and paid $49 after the instant $110 rebate.

The phone’s been fine and I don’t miss any of the fancy iPhone features. I’m not paying a thousand dollars for a phone.


28 posted on 11/19/2018 11:56:21 AM PST by Deo volente ("Our Independence Day is at hand, and it arrives finally on November 8th." Donald Trump)
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To: cll
I don't see any reason to make the leap, even from 4 versions removed.

Just drop the old one in the toilet.

29 posted on 11/19/2018 11:57:38 AM PST by palmer (...if we do not have strong families and strong values, then we will be weak and we will not survive)
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To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...
The stock ended a 5-day losing skid on Friday after an analyst at Morgan Stanley suggested that the supplier concerns are overdone.
And that is true.
Thanks Red Badger.

30 posted on 11/19/2018 11:58:37 AM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: SunkenCiv
Belief that broccoli and exercise will improve and extend life drives the young up-and-comings, I remember falling for that too, and it also drives Apple Watch sales.

All that does is give you gas.................

31 posted on 11/19/2018 12:02:54 PM PST by Red Badger (We are headed for a Civil War. It won't be nice like the last one....................)
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To: Red Badger

We were trick or treating and one parent had the new phone. We took photos and my old iphone7 only got blurry photos in the dim light. Her new one took great keeper photos with (I think it’s artificial but still) bokeh behind the subject, very nice. So yeah, I kinda want one. But not enough to actually buy it. ;)


32 posted on 11/19/2018 12:05:00 PM PST by Yaelle
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To: Yaelle

At some point people say, “I don’t NEED this.”.....................


33 posted on 11/19/2018 12:06:58 PM PST by Red Badger (We are headed for a Civil War. It won't be nice like the last one....................)
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To: sparklite2

As long as it’s not a ‘Going Out of Business’ sale...............


34 posted on 11/19/2018 12:07:35 PM PST by Red Badger (We are headed for a Civil War. It won't be nice like the last one....................)
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To: qam1

35 posted on 11/19/2018 12:09:19 PM PST by dfwgator (Endut! Hoch Hech!)
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To: dfwgator

> Why does anyone with a recent version of an iPhone need a new one? <

For many younger folks, bragging rights are involved. “I see you have the iPhone XS Max. Well, you should check out the iPhone XS Max 2. That’s what I have.”


36 posted on 11/19/2018 12:13:31 PM PST by Leaning Right (I have already previewed or do not wish to preview this composition.)
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To: Red Badger

I bought a 6s just after the announcement, because I don’t want to be stuck without a 3.5mm audio jack. I plan on running it until the wheels fall off, or whatever the equivalent is.

Things are good enough. Don’t see the need to spend beaucoup bucks every year for n% improvement.


37 posted on 11/19/2018 12:13:54 PM PST by Kommodor (Terrorist, Journalist or Democrat? I can't tell the difference.)
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To: Red Badger

That would be me.


38 posted on 11/19/2018 12:15:18 PM PST by Yaelle
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To: Red Badger
Hey, if it gives you gas, you should start wearing it on your wrist instead.
Image and video hosting by TinyPic

39 posted on 11/19/2018 12:15:32 PM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: Kommodor
I plan on running it until the wheels fall off, or whatever the equivalent is.

Battery no longer charges and the phone slows to a crawl................as it's designed to do............B^(

40 posted on 11/19/2018 12:19:14 PM PST by Red Badger (We are headed for a Civil War. It won't be nice like the last one....................)
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