You all must have different takes on how the mkt trades ,me I find it strange without any relating news?
Its no different than a $53 stock moving $1.50...not a big deal really. The trouble with high dollar stocks is people lose their relative perspective. It also scares them away from buying the stock in the first place. 1% is 1% is 1%...no matter what the share price is.
Beat on EPS (HUGE). Icon (tweet) bumped the value by $20 just a few weeks ago. China market is going well. Margin not what Analysts want. APPL seems to always go into a slump a few days after earnings release. My take on it, is analysis are always behind on Apple. Look at how many of them change the estimates a day or two after the release. This company is trading at 11x earnings. Other companies are at over 20x earnings. This company has more cash on hand then any other. Demand for the apple products is stronger then Samsung (only remaining competition). Everyone expects Apple to deliver the moon, but all they can do is keep hitting the ball out of the park and beat everyone in sight.
Pending no acquisitions of things like twitter, Hulu, Netflix, FB, or stock splits.
$670 EOY 2014
recalculate that "swing" as a percentage of the stock price and you'll see that for an opening after an earnings announcement this one was comparatively calm, even though I made a mix of trades bad and good (but all profitable, except disposing of my hedge).
Apple will close at today's open price of $538 and possibly will touch $540 end of day.
Direction of the stock is up since quarter was good all around.
With a great product pipeline and upcoming Holiday season there is $$$$$ to be made for Apple and everyone wants that shiny new iPhone .Guidance for next quarter was $55-58B which is on the high side and may actually come in much higher as Apple always under estimates.
In addition Carl Icahn will not sit idle and push this stock higher after Apple will eventually agree to deliver that cash hoard to stockholders.
Sentiment: Strong Buy
It's not strange. This is normal for AAPL and all other hedge fund favorites. The crooks..aka manipulators can do anything they want to any stock they want without fear of being jailed or fined. The SEC does nothing to stop this blatant manipulation of stock prices while gaming the weekly options market. Weekly options should have never been allowed because it gives the big $$ manipulators incentive to constantly swing the stock price at least $5 to $10 daily. This is nothing but manipulation/ total control of the stock price by those entities with the power and privilege to play in this stock. Very frustrating watching this over and over. Nothing is being done by the SEC to level the playing field or prevent these HFT crooks from gaming the system.
There are many buyers here that pushed it up, but just not enough of them. I'm sure we'll establish a new floor here due to the decent quarter and the inevitable rise through the holiday season. I think it would be wise to buy at the low of the day, or hold what you have.