In the end this was only a 2% move. What made it so dramatic was the 3% climb that was also given up on the same day.
And now it's down $6.88! Looks like the lunch hour was a dive. Hang on tight!
In the end this was only a 2% move. What made it so dramatic was the 3% climb that was also given up on the same day.
Bizarre overreaction, though. Okay, given Apples recent rise, its only natural that it doesn't take much to get people to jump off, looking for a better re-entry. Still, a 5% shift in valuation is what? 20-25 bn in worth? For what? Really? How much of it is due to Apples "China issue"? How much of that
makes any sense?
Oh well. Cant say I'm surprised. Story of my (investor) life.
The entire market did poorly yesterday and will likely today on the news that Greece is putting off an important meeting about their bailout.
European jitters are still strongly affecting world markets. And in the case of Apple, investors may be just generally pulling their money out of stocks and moving them to safer investments, or they may fundamentally think that with gasoline and oil prices sky-high and weak growth that consumers may not want to spend as much on 'luxury' items that Apple makes and instead focus on just 'paying the bills' which will be higher in the coming months thanks to higher oil and gas prices. Anything and everything can spook investors, real or imagined.
But aside from those bearish sentiments...YES...you do have to expect some profit taking after a significant rise like this.![]()
What goes up must come down![]()
It's true though, Apple first helped Microsoft, Microsoft then helped Apple, and then Apple became the world's most valuable company.
Holy thread resurrection, Batman!
Although it does provide some interesting reading in light of AAPL's recent price antics.