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

Not exactly "designed to do. . . just the nature of Lithium Ion batteries. They start losing capacity after a certain number of charge cycles. The problem starts rearing its head because an old, worn out Lithium Ion battery WILL STILL provide the amperage flow demanded at the expense of voltage and hence HEAT. . . Until the battery circuitry shuts itself down to prevent damage. . . A shutdown which requires a battery hard reset by being sufficiently recharged before the device would work again.

This occurs much more frequently on older iPhones running updated apps designed for more modern processors which the older iPhone will TRY to run with a single or dual core what should be run on a much more capable multi core later processor model iPhone.

To prevent this automatic older, worn out battery shut down, Apple added circuitry to cut the device’s amperage demands on old batteries by slowing down some high demand apps to avoid the shut down so users would not be left with unusable phones in emergency situations because of the internal battery’s automatic safety shutdown had turned everything off on those old worn out batteries.

The best solution is to upgrade the iPhone, second best is to replace the exhausted battery.

61 posted on 11/19/2018 5:26:29 PM PST by Swordmaker (My pistol self-identifies as an iPad, so you must accept it in gun-free zones, you hoplaphobe bigo)
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To: Swordmaker

Headline and article said AAPL dragged all those guys down (actually mentioned Facebook and Google, don’t recall the others..).

That’s why the snarky reference to FANG.

We can discuss whether AAPL should be there, but that wasn’t the motivation behind the comment.


62 posted on 11/19/2018 5:33:20 PM PST by Regulator
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To: Obadiah
From a financial standpoint I simply do not understand Apple’s decision to cut production before cutting cost. Why doesn’t Apple trim the price of its phones rather than cutting production.

Because this article and the ones that instigated it are bogus. They are duplicates of identical articles that have been published every year about Apple from the same sources. The iPhones that are being sold now were manufactured LAST QUARTER. . . and the orders being made now for LOWER numbers of components than for this quarter estimated sales are smaller numbers because, like last year’s similarly reported lower numbers, were for the expected lower sales numbers that ARE historically sold in the quarter following the historically huge sales of the Christmas Holiday Season sales! It is entirely NORMAL for Apple to reduce parts and component orders in the first fiscal quarter of the fiscal year by about 40% for products being manufactured intended for sale in the much slower sales period that Apple will guide for in the second fiscal quarter of the fiscal year, the quarter that runs January, February, and March of 2019.

In the meantime, Apple is experiencing approximately one billion dollars PER DAY of sales in the current quarter, for which they were pleasantly surprised to learn that consumers are preferring the three high-end iPhones far more than the lower priced older model iPhones Apple still sells. You can learn this by standing in any Apple Store and see what people are buying. . .

If one is NOT selling one’s lower priced products so well as the higher priced products, and one IS selling every one of the higher priced products, there is no economic pressure to reduce prices.

63 posted on 11/19/2018 5:45:19 PM PST by Swordmaker (My pistol self-identifies as an iPad, so you must accept it in gun-free zones, you hoplaphobe bigo)
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To: chrisinoc
Pretty good....

Made more fast money shorting....than ever going long.

64 posted on 11/19/2018 5:46:59 PM PST by Osage Orange (Whiskey Tango Foxtrot)
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To: faithhopecharity

I have a flip phone....is that a little phone?


65 posted on 11/19/2018 5:48:06 PM PST by Osage Orange (Whiskey Tango Foxtrot)
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To: dfwgator
Why does anyone with a recent version of an iPhone need a new one?

And that's it right there...

iPhones are lasting longer and have all the power most people need. Apple keeps bumping up the specs, but for the average user, it doesn't matter. So there's no need to drop $900-$1200 on a new one.

I had an iPhone 4, and didn't upgrade until the later version of the iPhone 6. I held onto that one until it started experiencing battery problems (planned obsolescence anyone?) and bought an iPhone 8. I can't see needing another for a few more years.

This year, I was excited for the release of the new iPad Pro. I use the heck out of my current iPad Pro and in this case, the spec bump was a welcome sight as I use Photoshop quite a bit and would love to have it on the iPad (coming in 2019). But just after the tablet was released, it appears that users are experiencing bent units, and a popular YouTube video came out showing how easy it was to fold in half. The tester described it as "mashed potatoes wrapped in tin foil". Apple forgot apparently to reinforce the thin aluminum enclosure in pursuit of weight. So now that's off for me. Add to that the price bumps, and the lack of any real new products or even a refresh on it's tent-pole line of Macs, and Apple is in trouble.

Apple has been rudderless in the past few years. Cook needs to go. The company needs a true visionary back in charge again.

66 posted on 11/19/2018 5:56:03 PM PST by Magnatron
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To: Regulator
Headline and article said AAPL dragged all those guys down (actually mentioned Facebook and Google, don’t recall the others..).

I can’t quite see how Apple (hardware sales) pulled down Facebook (social networking/advertising), Amazon (retailing/cloud services), Netflix (streaming video/advertising) or Google (advertising). . . They aren’t at all related. . . or the timing of this stock value drop and the Apple news cycle. These claims about soft iPhone sales started dragging AAPL down the day after Apple reported the best record breaking, most profitable quarter in business history, and has been on-going for two weeks for AAPL. . . but the MSM Street press chose to concentrate on Apple giving what some anal-cysts on the streets’ negative takes about Apple giving guidance that was a bit softer than the anal-cysts wanted for iPhone sales for the next (this) quarter, ignoring Apple roundly beating the Street expectations, Apple’s 30% growth in services which was already a large portion of Apple’s business and profits, and the amazing 20% year-over-year growth in Apple quarterly profits on a previous year’s also amazing record profit quarter for ALL BUSINESSES in history. That all didn’t matter. . . Unsupported redux deja Vudu repeats of last years’ later disproved bogus rumors do count. Go figure.

They also are apparently miffed that Apple will not be reporting unit numbers of computers and iPhones sold in the future. . . Now opting to instead comport to the industry practice of treating unit numbers sold as a trade secret as ALL other CE manufacturers have done historically; only Apple ever reported units sold for these products categories.

67 posted on 11/19/2018 6:15:28 PM PST by Swordmaker (My pistol self-identifies as an iPad, so you must accept it in gun-free zones, you hoplaphobe bigo)
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To: Magnatron
iPhones are lasting longer and have all the power most people need. Apple keeps bumping up the specs, but for the average user, it doesn't matter. So there's no need to drop $900-$1200 on a new one.

If that’s the case, how did Apple make a record profit in what is normally one of the slowest quarters of the year? They didn’t do it by selling the lower priced iPhones. People opted for the higher priced iPhones. . . and the iPhone XS and XSmax were only available for the last two weeks of that quarter. . . so they did it when people were holding off waiting for the newer models. The Apple quarterly profit was 20% year over year what it had been last year. . . and they sold more Macs and iPads. . . Plus a 30% increase in services.

I held onto that one until it started experiencing battery problems (planned obsolescence anyone?) and bought an iPhone 8. I can't see needing another for a few more years.

No planned obsolescence, just that you kept your iPhone so long the battery needed replacing. . . and the fact the upgraded apps grew beyond the capabilities of the "later version" of that iPhone 6’s processor and started drawing mare amperage from the poor, old, depleted battery than it could safely provide.

Re: the bending of iPad Pros. The same bozo who bent that iPad Pro did the same to each model of the iPad Pro when they came out. . . They are built the same way and are just about as easy to bend. The average man can put about 220 lbs of force between his hands the way he held that iPad Pro to bend it. I don’t know about your strength, but I’ve easily been able to bend a ⅜” steel rod with my hand. You can bend any iPad in the same way even if you were to put re-inforcing rods in them. iPads aren’t intended to stand up to force such as he puts on them. . . He gets them free from his "sponsor" and it’s no skin off his nose how he destroys them.

Are you seriously planning to carry one around without a case? So far the bent iPad Pro reports I’ve seen are purely from him. . . No where else. His and his sponsor’s purpose is to elicit the reaction he got from you. . . To suppress Apple products success.

68 posted on 11/19/2018 6:49:43 PM PST by Swordmaker (My pistol self-identifies as an iPad, so you must accept it in gun-free zones, you hoplaphobe bigo)
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To: Osage Orange

I am investing Ruger firearms and went from 8% gain from January to a 10% loss in a week.


69 posted on 11/19/2018 7:41:37 PM PST by chrisinoc
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To: dfwgator

Still using my 6+ and quite happy with it. I’ve had it about four years now.


70 posted on 11/19/2018 7:42:17 PM PST by ProtectOurFreedom
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To: cuban leaf

They keep adding features, but they aren’t must-have features like in years gone by. They aren’t things people are willing to pay big money for.

Facial recognition is good. Wireless earphones are good. Faster speeds are good. Better battery life is good. Real-time EKG is good.

OLED display? Not a must-have. 3D pressure sensitive home button area? Meh.


71 posted on 11/19/2018 7:46:54 PM PST by ProtectOurFreedom
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To: chrisinoc
I do not what you had money wise...but why didn't you take some off the table..and sold it all for a profit.?

Stops are a very useful tool........

72 posted on 11/19/2018 7:52:45 PM PST by Osage Orange (Whiskey Tango Foxtrot)
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[snip] In March 2018, Mr. Tim Cook talked about privacy protection represented by one of Facebook, in an interview of a TV program, and on the handling of privacy, Apple clearly shows that the policy is different from Facebook and Google It was. Also, Mr. Cook answered, “If you are Mark Zuckerberg CEO,” cast in the interview, Mr. Cook answered, “I will not fall into the situation that I did.” [/snip]

Mark Zuckerberg ordered all Facebook executives to use Android phones - The Verge
https://www.theverge.com/2018/11/14/18095729/mark-zuckerberg-order-facebook-executive-android-phones


73 posted on 11/19/2018 7:59:39 PM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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Whoops, that snip was from here:

https://gigazine.net/gsc_news/en/20181115-facebook-hired-pr-firm/

The Verge link is as the headline shows.


74 posted on 11/19/2018 8:00:16 PM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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2019 iPhones to Upgrade FaceID Camera https://www.theverge.com/2018/11/4/18061164/apple-2019-iphones-upgraded-face-id-camera-report-ming-chi-kuo


75 posted on 11/19/2018 8:04:54 PM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: Swordmaker
However, even just looking at dividends, according to CNBC in August 2017, Apple now pays the biggest dividend in the world, surpassing Exxon's payout, surpassing Exxon Mobile, and Apple’s board increased their dividend three times since then.
Obviously I was talking about how small the Apple dividend is in relation to the share price, and it is tiny -- though it's getting larger as a percentage due to the fall in the share price. And regarding the MacBooks, I wasn't referring to MacBook Airs as a separate line. And BTW, it wasn't my intent to nettle you.

76 posted on 11/19/2018 8:09:03 PM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: mewzilla
Not a biggie. I remember how, in the 1980s, the big three automakers stopped reporting their monthly output, a practice that had started during WWII when the gubmint actually needed those numbers as we had a war to fight, but it was a completely unnecessary requirement, what with Hitler having been dead for forty years.

77 posted on 11/19/2018 8:13:37 PM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: Osage Orange
Hi. Probably not. I was at any event referring to the 500 Or 700 dollar iPhones ... too damned expensive! Flip Phones usually cost a whole lot less - so if yours meets your needs, rejoice! You were smart enough not to pay 💰 so much more for a smart iPhone
78 posted on 11/19/2018 8:17:07 PM PST by faithhopecharity ("Politicians aren't born, they're excreted." -Marcus Tillius Cicero (3 BCE))
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To: dfwgator

I upgraded from a 6 to an 8. I like it. I figure it will last me a while. Not real sold, for a variety of reasons, on face rec.


79 posted on 11/19/2018 8:33:45 PM PST by AFreeBird
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To: Kommodor

Honestly, I don’t miss the jack. I hated getting the damn wire caught when I was working in the yard, or whatever.

The AirPods work just fine. Even sans helmet on the motorcycle. For the helmet I use a Sena 20S.

Wires get in the way.


80 posted on 11/19/2018 8:42:53 PM PST by AFreeBird
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