I see no support lines below 500.
Also, tax selling makes no sense.
Now selling because you're afraid a bear market will maul everything DOES make sense.
But the time to sell was when AAPL was above the 200 dma, not now.
The next selling opportunity will be in April 2013 when all that IRA money is looking for something to buy.
This is just good old panic selling.
People who bought the iPhone 5 on day one and also bought the stock are now in a world of pain.
Folks, I own a couple of stocks that are trading mear zero.
Its not nearly as bad as selling AT the bottom.
I am expert at doing that!
Sentiment: Strong Buy
Forgot about "they". The only time I will trust someone is if they take a snapshot of their portfolio and prove it. Other than that it's just jibberish. Obama can go on the air and say that AAPL will be at 1111 next yr
a p/e of 15 gives aapl a value in the $660s. I see that as fair valuation.
Many are saying next year aapl will make $52/share instead of the trailing $44.15/share.
To me very very strange that aapl does not have a bottom floor support of $600++. News on fundamentals for this quarter and next is between good & great.
They are trying to claim a return to the former long-term trend line would be about $450. However, that logic is grossly flawed in reality (if technically a reality). The value of the business has accelerated tremendously in the past couple of years. They are growing top and bottom line and adding cash to the balance sheet like wasn't the case in these base years of the trend line. IMO, this 25% pullback is healthy and accentuated by tax gain selling and an increase in short selling combined going into year-end. Those factors will change in the coming days and the Company will report a stellar quarter in January.
Sentiment: Strong Buy
You have the right idea. I don't have a problem with a stock having a healthy pullback, but when you have every #$%$ on tv out there praying for it , it will happen. Sadly, it is like the election, the media ( like it or not) is liberal, that helped Obama get elected. Let me give you two examples of CNBC's nonsense. They have Jeffery Gundlach and Dennis Gartman on tv crying about Apple. What does Gundlach do? He trades bonds, not stocks.. And What about Gartman, he trades FX and Commodities, not equties. Does CNBC ask Warren Buffet about commodities or FX? Do they ask Kent Vogel from Vanguard about the bond markets? You see where I am going?
450 is long term trendline from 2009 lows.
450 would still be a 19% gain YTD!
520 is another trendline. If 520 breaks the floodgates will really open. For traders this is a great trading market. for long term buy and hold, just hang on and maybe add to positions at $450-480.
the technicals are just horrendous on this stock right now.
Ponder this, for those still confused:
Imagine investor A put in $50k in AAPL 10 years ago, and sits on an unrealized long term gain of $1mill.
That investor has the choice of selling and locking in the gain and keeping $850,000 if they sell in 2012.
They can sell next year and after Cap Gains tax goes to 30-40% + obamacare they can sell the same shares and keep only $580,000 (worst case scenario)
what would you do? it makes perfect sense. If you could turn $580,000 into $850,000 with a click of a button, you would do it. Then buy it back in 30 days.
What i dont understand is why folks who claim Apple is going to do fantastic the next 5 years even care. All you should do is turn off the quote screen and stop back in 5 years to see the appreciation. People who should care about the next 30 days are people with unrealized gains they need to lock in, or traders.
Yeah, they are...so bad I wonder why the J talking heads keep impressing that it's still up 35%YTD. Very few, if any people have made money on this stock because of these crippling volitile swings. If you were long from Jan, you sold in March during that crippling pullback....etc. 100 shares of Apple isn't 100 shares of Facebbok...56,000 is money most don't have. So when you save and buy and it does this, you have to sell for a loss because of margin, bills, funeral costs, whatever. That's how the pig J's work an
technicals are horrendous right now because it is done by design. Apple's chart looked great and a " stairway to heaven" over the summer. The constant media smackdown has allowed every HFT and momentum goof ball to get on the short train. Remember some of these HFT's enter orders based on words said on tv or in some press release, or blog. They can send off orders based just on that. Think about that for a minute and how insane and crazy that is. That is why they charts are so messed up. There is no legitimate buying or selling, just this HFT's and day trader wannabe's jamming up the order books with those type of orders and stops. Jan earnings will clear this all up and clear out all these dopes
This is an inteligent comment from the other board.
For thirty years, Apple products have always been close to twice as much as competitors. In some cases three times as much. We can thank carriers for absorbing and offsetting the high subsidy.
If carriers did not subsidize phones, the iPhone would have rotted on shelves just like their companies products before. No one wants to spend twice as much on a product of this nature that other products can easily do for far cheaper.
Apple got rich very quickly because of inflated pricing and customers not viewing this markup.
My generation left Apple for dead. Thanks to Apple’s marketing and carrier subsidies, this new generation was duped. It has fueled the monster. This company has only one goal. To extract as much dollars out of consumers while spending the least amount in offerings. Why do people think Apple always leaves key offerings out of one iteration while competition does not? Because so far, unsuspecting consumers have given Apple no reason to.
It really is time for consumers to actually see the price difference of competitors over Apple. I welcome unsubsized devices. This will push prices down even further.
Hey man, Apple isn't holding a gun to their head. The reason why they subsidize is, they know they'll make more money that way, because more people will sign contracts. If all they carried were Sandung products, then they'll go out of business. I think Apple's iphone is the saviour of wireless.
I disagree. Apple got to where it is under the direction of Jobs. He risked the company and pushed out products that were revolutionary. As a result, Apple deserved to command the margins it did. However in the last few years Apple has fallen behind in innovation, and these days relies heavily on customer loyalty to sustain its business model. It will not last forever, and the stock price now reflects it.
This post is complete nonsense. The start of AAPL's renaissance was the ipod. They didn't invent the concept. The went head to head with all of the other mp3 player manufacturers and beat them like a redheaded stepchild. There were no subsidies. Just an much better more well designed product. No company ever subsidized the ipad either. And, the 16 gig iphone 5 sells for $199.00 with a 2 year contract -- the same as the Galaxy III; which is also 16 gig off the shelf. The iphone 5's A6 processor has been rated by independent sources to be a better processor than any other processor in any other smartphone on the market including the Samsung Galaxy III. And of course, you have the AAPL ecosystem which includes 1 million apps (250,000 native to AAPL) and that work and display as beautifully on an ipad as they do on the iphone (unlike andriod apps), world class customer service, world class retail stores, itunes, icloud, etc, etc. Oh, and if you factor in that you can sell your used iphone 4s for about $300.00 online you actually make money upgrading an iphone. Now how much were those used Samsung phones going for, LOL?
Think about that comment. Why is every carrier reporting good earnings or why did Sofbank buy a huge stake in S? Because of the Iphone. Why did T mobile finally cave? Because they know the consumer demand is still incredible and is not slowing down. Apple has price elasticity and margin expansion. I really wish people would look at this objectively. They know exactly how to price these to make money, and lets be honest, do you think T, VZ, S, would be bending over backwards unless they were making money from this. Just like with China Mobile, they will do a deal with Apple because if they do not, people leave. Remember when the first phone came out, T was the only one to carry it. Now they all not only want it, but need it, or their earnings are in trouble.
Because they want the stock to trade there to spend hours and hours on showing the epic crash. I can see it now, a four hour special on CNBC with the Fast Money crew talking about how this could now go to 250 a share, or Guy Adami, Joe Terranova, Steve Grasso ( greaseballs) asking Doug Kass what he thinks, followed by his 45 min rant on some other nonsense he pulled off a Wikipedia page. I have worked on Wall Street for 20 years and have never seen anything like this. Will 450 happen? I hope not, but keep in mind, if they keep trashing this stock, it can happen. At that point, the company steps in and does something epic, or it is earnings time and let Apple tell the world what its worth. I am plenty long and would love to buy at 450, but I do not want to see it there for psychological reasons
you've worked on wall street and never seen anything like this? Lol. have you been asleep the last 20 years?
you've never seen a 20% pullback in a popular stock??
were you not around for Haliburton? Enron? Bear Stearns? Global Crossing? BofA?
Lol ... please. the drama here is comical. If you just started investing in Apple in 2012, 14 years too late, thats your fault. Reminds me of people discovering Gold as an investment in 2011 after a 500% run.
With $128 per share In cash, right now the stock's price is close to 25% cash. That is ridiculous enough, but in the $400s it would be over 30% cash. Since when did a stock's price include that much actual cash? Next the short sellers will be calling the price be below the actual cash held. For sake of argument, if I was Tim Cook and that ridiculous statement actually came true, I'd take Apple private and keep all the profits.
Totally agree apex but from past Jmanipulation, I'm not very confident about Apple stepping up to haul this. I actually think one of the biggest reasons for the selling was to try to stiff arm Cook into giving them a dividend. CNBC, I'm just surprised some jilted investor hasn't marched in there with a shotgun....