AAPL will not bounce, there is no reason or catalysts. It will go down because there are many more who need to sell after realizing their money could be used better somewhere else. Listen, I lost over $1.2 million twice in 2000 and 2008 making the same mistakes by not selling and hoping for a bounce. I was long AAPL until 30 minutes before earnings announcement when I closed all my positions and sold a bunch of Jan 550 naked calls. Currently, I have no position in AAPL because it is simply too dangerous to be long or short. The best thing to do is to get out and let it go to 400, 350, or even 250; you know it when it bottoms. Even better is to take a look and evaluate things and see if you want to be in AAPL (ask yourself why not GOOG?). The most common mistake is that people get emotionally attached to a particular stock and they think they have to make up for their losses by buying more or waiting to get even. Get out now and you see AAPL very differently than when you own the stock.
it is cheap, but TC sounded lost on that CC.
BOD needs to figure out something. HOWEVER, the cash position will eventually stop the bleeding. Problem is AAPL management has not shown any eagerness (yah a token buyback and recent dividend) or aptitude to spend it to GROW the company.
the other BIG problem for AAPL is the expectations of an eventual iTV are so bloated, that whatever it is, it will fail the hype.
Plus MOmo crowd is gone, growth investors are bailing and value people don't like it yet....so this is DEAD money for now, even though there will be ups and downs
at 700 or even 600 it was to high but the company made great profits, has 132 billion in cash, with asset this is now undervalued tremedously. When it was at 350 a share they had 42 billion in cash, but to have 132 billion in cash and say its going to 350 doesnt make any sence, its just panic selling and margin calls that dropped it a little more today. They will write Apple at 350 had 42 billion and now at 450 it has 132 billion, stock is undervalued by 125 dollars a share and thats taking the premium out.
High tech's right. Emotional investing makes people do stupid things. I remember initially "buying the dip" (more like catch a "falling knife") on my primary retail holding BBY, because I "knew" BBY was a "good company" and shopped there every week. This was, of course, insane as B&M retail was declining and their earnings were dismal. I sold about a month later on a minor uptick.
I'm a pretty smart guy. But this isn't a smarts thing, until you've experienced it, you will try to do the same thing high tech and myself have described. It's a blow to your ego to "lose" X on a "good stock". It's the same reason people never walk away from slot machines when they're very much up, because they always figure they can get some more or very much down - because they figure they can "win it back".
I don't own AAPL and don't plan to buy it. If I was at a profit, I'd probably hold (depending on the entry point), but reduce my holdings. If I was at a loss, I'd have liquidated this morning.
this guys right....and im right there with you,,1.3 million lost in 2000 cause im an idiot...i got out of this like around 510 but made some profit...i could see how it could go to 350...not much lower....but there is no catalyst right now,,,maybe they have something up there sleeves?
goog was considered a dog up until 6 months ago! what changed? thier earnings were similar to applein that they came in as expected! yet one lost 50 and the other gained 50. make no mistake stocks like goog, amazon, will have equal chance at getting there heads handed to them on a platter by the funds.apple is having a rare snowball effect it is unabated selling and it is not justified but it is however real.
high_tech: I agree. Great post. I was going to hold AAPL until Tuesday morning when I nearly threw up from the stress.
Sold at the open at 504.55. Now I can see a little better what I couldn't see before. Consumers are financially strapped.
Sentiment: Strong Sell