Volume in US on open will PUMMEL this further. Screw the conversion - it is the volume I worry about and the POMO beneficiaries and robots, etc. We will see much more selling pressure in the US.
It's already coming back up. It's only down 5.8% before.
Same as when Jobs leave was announced in 2009. Down for a moment, but then back up again within a day. A non-issue this time more than before because now we know how well Tim Cook can run the company without Steve Jobs.
Expected earnings for several years are calculated in share price.
If business genius Jobs is out of the game, are you sure future earnings will not drop? Investors think they will.
BTW, Apple has not given shareholders a dime from its earnings.
We get our earnings from other investors willing to jump the wagon.
"If business genius Jobs is out of the game, are you sure future earnings will not drop? Investors think they will."
Investors thought that last time and under Cook earnings continued to rise during a recession.
A loss of Jobs wouldn't have an immediate effect, but would be felt bitterly in a couple of years. As before, Apple would turn into a company ran by suits who would slowly lose out to other, more innovative companies (not sure who that would be at this point, but there's always someone). Just like what happened to Apple the first time Jobs left and what happened to Microsoft, which used to rule the world 10 years ago.
I have europe's charts up. 7% to a dip of 10% is what i expect, no more than 11 percent. I am in at 320 and holding, but that is me. If I can get out in the premarket under 5 percent I will take it an re-enter lower.