Yes it is. 100%. This is something Steve jobs didn't want to do. He never wanted to have iPhones in the hands of kids. Only professionals. It was a premium product, hence a premium price. Currently iPhones are used by every joe blows all around the world. NOW THATS A COMMODITY. why is apple's PE 13 and GOOG 40x? Do some research. Lookup PEs by industries and see where GPRO falls and why they are capitalizing their content.
then it will fly. Traders can't hold their short position for long. The stock should be range bound between $60 - $64. If breached in either direction, then we will see a pop/drop.
Sentiment: Strong Buy
Yes you are right but you logic is flawed. People tend to pay premium prices when it's not a commodity like cell, laptop or a tablet. People have big discretionary income and are easily able to shell out few hundred bucks on GPRO for their kids or side hobby.
dwaindrb, that's how WS makes money. There is no chance for retail investors to make money in this market. The algos will flush the retail investors in no time.
The way apple is trading right now, it looks like it's going to get clobbered at the end of the day. The stock is absolutely range bound. I really doubt that apple has bottomed yet @ $126. I think we will revisit $122 before we get any meaning jump or potential buyers.
Has anybody noticed that the next week's call premium dropped 15% in last hour? With the same apple price i see that calls fell 15% in an hour. I understand the time decay but it can't be that much in one hour. These options expire next week.
This dip is not a buying opportunity by any means. The stock is stuck due to its large market cap. It will need something significant to cross this major $1T valuation hurdle. Issue # 1 is going to sting the top line earnings. It is given that apple won't be able to beat the next earnings. If that's the case, why not plant your shorts now before others do?
Sentiment: Strong Sell
The sentiment is clearly negative and it's not going to get better any time soon. There are three major issues which will take a big chunk of PPS out.
1) EU is going after all US corporations and AAPL is no exception. No company has won against EU. Apple has already warned of material impact on company's future earnings.
2) Watch has faulty part which is snow ball into something else. This is exactly how the APPL demise started last time. Anybody remember "purple haze."
3) Too much of market cap too fast. AAPL is already 10% of nasdaq and big fishes will not allow apple to influence the entire stock exchange.
This negatives will take some time to go away. If you can hold then it's good, else exit now before it gets NASTY. Apple has already fallen from $35 to $26.
Sentiment: Strong Sell