Why do you care what it opens at? Totally irrelevant. Odds of a lower low are very strong. This is going to the low $300's. I'm not short, 30 years experience trading. That's my assessment. You have two problems as a long in AAPL. 1) AAPL fad dying, no new exciting products, lower margins, competition, etc. 2) Economy weakening, stock market toppy. (2) is the bigger problem. A perfect storm.
You can't tell about the open - stocks are always volatile in the forst 30 minutes. Investors could panic a bit given the red AH action, so if the broad market has problems tomorrow, I wouldn't be surprised by a 10% drop.
It will move up from here and on. 55 Billion buy back + 8 Billion additional cash + increase in Dividend = more value to the shares. It's fundamentals, folks. My estimate is about $70, but of course buy back will only realize over time. How much added value is of course subject to the market sentiment. And that's the important key.
The cloud has been lifted!!!
By all account this Qtr's result shows Apple still perform in the weakest season. People still like its products (which explains why stores still full of people). AND IT MADE $$ in a capital B. It's not a dying company. It's all but a guarantee (TC during the CC) new products will be out along with a refresh in existing products as new cycle rolls in. Before long there will be product launches. Analysts, including Cramer and Melisa, trying to figure out what just happened. By then, you all have missed the boat.
Remember iPod (2001)? It was just a MP3 player and every company made one. Wrong.
Remember iPhone (2008)? It was just a phone and way too expensive. Wrong.
Remember Macs? Microsoft Windows was going to doom it. Wrong.
Remember iPad (2010)? It was just a bigger iPhone, so what? Wrong.
Remember Melisa & Cramer and their big mouths? .... WRONG!
The one thing Apple made mistake on was to let Google CEO sit on the board, and stab them in the back. And underestimated how fast other companies can copy. So can you blame TC not saying too much about new products before it's ready to be rolled out?
Looking at this stock without long term horizon is akin to take a sample of of water from the ocean and decide there are no life in the ocean.
2013 - 14 is about the right time Apple launch another new revolutionary product.
Opens at $406 and goes down to $380 by end of Friday. If you count initial AH $25 pop as automatic accounting of additional buyback then we are at -$25 now and terrible guidance worth -$50.
I remember AMZN did reverse of this 2 earnings back (or was it last earning?) - opened -10% after hours, went back to flat by opening the next day and another +10% in a week. But then Wall Street loves AMZN and hates AAPL now. If you are long - that's what you get when you marry a step child. Money can't buy love.
I was wrong on AAPL, this stock is going down but not until options expire. I would say it will ping pong between $390 and $410 until next week. Then it will drop like a brick. AAPL is going down. Look at their earnings report. It is bad, folks.
But AAPL still have a lot of cash, short term drop, long term is a good buy.