exact same scenario last april before earnings. $90 drop...$63 pop on earningd
after peaking at $644 in early april, aapl fell to $555 before earnings. this included a $20 drop the friday before. unfortunately, the slide continued on monday, bottoming at $556, and $555 on tues. Earnings beat by $2 and stock shot up $63 from tues low to weds high.
i am assuming that apple will beat. they guided to $7.50, not saying yet that iphone 5 was coming out before end of quarter. consensus was raised to $8.80 when ip5 was announced. even if numbers on ip5 were not as strong as predicted, iphone total sales will be up probably 10 mil YOY. remember also, ipad 3 didn't start selling until july in china cuz of trademark dispute. look at braeburn group for projected sales breakdown.
apple did come down after april earnings, but that was headed into typical slow summer period. this quarter will not be slow.
Yes I distinctly remember this back in April, I agree that there's a possibility for a reversal soon. For some reason, I'm not at all concerned by this 90+ drop since it is very similar to the shenanigans in April.
Earnings to be announced on Thursday, Oct 25th. Do you think Apple will still drop on Monday - Wednesday? What about the announcement? When do you think it will bottom before this potential earning pop?
well dont stop there. please, tell us what happened after that 63 dollar pop... oh, i'll go ahead and help you... it went to even lower lows the next 2 weeks. Face the music. Your precious AAPL is overbought long term. I know, I know. hard to believe. AAPL is GOD, right? Or do you really expect 50% gains year over year from one company. See. putting all your eggs in one basket ISNT a good idea, is it.