Thanks to the newbies/idiots for selling the stocks.
The drop will be scary.
bbry, nokia, etc.
Also, ML somehow defended apple.
It will go back up after new years day.
Is he fired yet?
Btw, he didn't mention/realize that Jabil Circuit only supplies parts for 5C(not 5S or anything else).
This is what he said last week:
Separately, Jabil Circuit, which makes moldings and metal for Apple's iPhones, provided much weaker than expected guidance for its second quarter. That led Citigroup analyst Glen Yeung to speculate that Jabil's poor guidance could reflect negatively on Apple's forthcoming March quarter.
Apple reportedly accounts for about half of Jabil's diversified manufacturing services business, and Yeung believes a poorer-than-expected outlook could suggest iPhone sales may come in below market expectations of 42 million units for the quarter.
This is him few months ago:
"...expect negative revisions to Apple's 2H13 iPhone build forecast that, if realized, could result in flattish y/y unit growth (including low-cost iPhone). A modest delay in iPhone 5S production (underscoring our concerns about Apple's ability to execute) is contributing to this view. Meanwhile, a push-out of iPad Mini Retina leaves emphasis on the lower-priced Mini 2, pressuring ASPs and underscoring our concerns about Apple's GM. To be sure, the supply chain is ready for iWatch production, making it look increasingly likely for 2H13, although iTV remains elusive (we do not expect meaningful revenue contribution for iWatch in 2013). In light of our findings, we find it difficult to side with the bulls at this time and, despite valuation, we expect Apple to remain in a range around our $430 PT."
Say hi to Glen Yeung(the dumb idiot analyst who downgraded aapl last week).
What idiot will sell this tomorrow? Maybe if it pops 5%
Because the general public don't follow rumors and didn't know about the china deal until today. This news is all over everywhere and everyone will know about. Every joe and Jane thinking about what stocks to buy will jump in.
Anybody that planned to sell tomorrow will just hold off now.
There's going to be a big rush of new buyers tomorrow.
Citi needs to fire him. He has been consistently wrong. He is a joke.
Exploding Samsung S4....yeah, what else is new.
Once the rebalancing is done, it will pop back up, so look for a rise near the end of day.
you'll thank me next week