Apple Computer hits intraday all-time high ahead of tomorrow...

[MacBytes]

Category: News and Press Releases
Link: Apple Computer hits intraday all-time high ahead of tomorrow's media event

Posted on MacBytes.com
Approved by Mudbug

[shamino]

Closing stock price for today: $48.80. The day's high: $48.88.

[wordmunger]

Now watch people complain when it goes down after the announcement (as it nearly always does).

[AoWolf]

Originally Posted by wordmunger

Now watch people complain when it goes down after the announcement (as it nearly always does).

Yeah :-( when is the announcement tomorrow anyway?

[masterapple04]

10a Pacific, meaning for us on the east coast, 1p

[nagromme]

AP - September 7
CUPERTINO - Apple (AAPL) stock plummeted 81% today after reaching an all-time high at yesterday's close. At today's San Francisco press event, CEO Steve Jobs unveiled a 15-year roadmap of new products enabling eternal life, global peace, and infinite happiness. The first models of the new product line are available immediately worldwide, and shortages are not expected. Analysts note that margins on the new products are excellent, despite unexpectedly low price points. Consumer reactions have been universally positive. Widespread speculation suggests imminent bankruptcy for the floundering computer maker. "People want happiness this year," said one analyst, "but what about next year? Microsoft has promised some very exciting alternatives to happiness, and it may prove impossible for Apple to compete with the torrent of innovation that their Redmond rival continues to generate."

[wordmunger]

Originally Posted by nagromme

AP - September 7
CUPERTINO - Apple (AAPL) stock plummeted 81% today after reaching an all-time high at yesterday's close.

Ha!

Very funny, but it's not actually what I meant. The reason stock tends to go down on announcement days is that people buy up the stock in the days leading up to the event. When the product is finally announced, people are usually already selling to reap the profits from the gains of the preceding days. It will take months to find out if the announced product is a hit, but many investors are way too impatient to wait around for that. People who buy AAPL and hold for the long term should be fine.

I'm complaining more about the complainers, who should be aware of this dynamic.

[nagromme]

I know, it always happens

But maybe for a reason this time...

AP - September 7
SAN FRANCISCO - Apple CEO Steve Jobs today unveiled iTunes-like software that will be pre-installed on Motorola's ROKR line of mobile phonccvbnmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm What? Where am I? What time is it?

[shamino]

Originally Posted by wordmunger

Very funny, but it's not actually what I meant. The reason stock tends to go down on announcement days is that people buy up the stock in the days leading up to the event. When the product is finally announced, people are usually already selling to reap the profits from the gains of the preceding days.

"Tends to" being the operative phrase. Usually, but not always.

I tried to play this trend last time (the quarterly conference call), and sold the afternoon before the call. Made a nice profit. But the stock didn't drop the next day - it continued to rise - and there hasn't been a good opportunity to buy-in again since then.

So now I'm watching record highs and I'm not holding any AAPL. Rats.

[wdlove]

Just as long as the overall move is upward everyone will be happy. The announcement must be significant or there wouldn't be the hype and the use of Moscone Center.

[Lacero]

Makes buying more Apple stock less appealing the higher the price goes. Ah well, time to sell.

[impierced]

Apple Store is now offline, the standard "We'll be back soon" post-it note is up.

Methinks new hardware will be announced in addition to the iTunes cell announcement.