Apple Shares Drop 5%

[CubaTBird]

http://www.macobserver.com/stockwatch/2005/03/08.2.shtml

Shares of Apple Computer dropped 5.2% Tuesday on worries that Sony's new flash memory-based music players could take a bite out of Apple's iPod empire. Sony announced new low-cost music players today in its Walkman product line that are designed to compete with Apple's iPod shuffle.


While the new Walkman models are slightly more expensive than their iPod shuffle counterparts (see TMO's full coverage for more information), Sony included support for the MP3 format for the first time. Industry watchers have seen this as critical for Sony to be able to gain significant traction in the market because of the dominance of MP3 in the digital music sphere.

 

[Dont Hurt Me]

You know that wasnt it, it was those Doom3 scores that lowered that stock.

 

[virividox]

its about time that apple shares dropped anyway, their share price is very inflated

 

[Phobophobia]

Long and proud.

 

[Blackheart]

Time to buy more!

 

[Daveway]

Arg!! The Pain!!
I've been kinda depressed all day about it.

 

[Mr. Durden]

This is it. We've been hearing how Apple is doomed and on the verge of closing their doors permanantly... this is it. So long Apple, been nice knowing you.

(Just is case you couldnt tell, that was dripping with sarcasm)

 

[quackattack]

No worries, they will bounce back up when Tiger and 5G iPods are announced

 

[jer446]

why does this happen to me lol? i bought apple stock a couple of days ago..

 

[mj_1903]

why does this happen to me lol? i bought apple stock a couple of days ago..

Don't worry about it, the price will climb back up again shortly. This is just a little bit of profit taking.

 

[RandomDeadHead]

Time to update the iMacs and Powermacs. Just the kick we need.

 

[Yvan256]

why does this happen to me lol? i bought apple stock a couple of days ago..

I bought at 44.60$, I feel your pain...

 

[Lacero]

Apple stock is currently overvalued. It's being corrected.

 

[Hoef]

Apple stock is currently overvalued. It's being corrected.

Really? What do you think is the right price?

 

[wide]

This has been happening since the stock touched the $60 price range.

 

[hob]

I bought at 44.60$, I feel your pain...

Surely now is the worst time ever to buy... well not NOW but when YOU did... cos Apple stock is at the highest it's EVER been! If it fell to about 30 points I'd invest heavily...

 

[runninmac]

I bought at 44.60$, I feel your pain...

I feel everyones pain i bought it 4 cents higher, $44.64!

 

[Bibulous]

sell



no wait buy



no sell



buy low, sell high or something...

 

[Savage Henry]

sell


no wait buy


no sell


buy low, sell high or something...

In a kind of empty pre-coffee deluge morning way, that made me laugh. Thanks for that.

I too believe that the price has reached a pretty astounding peak and doubt it will make any further sky reaching climbs beyond normal market patterns. The last 12 months has seen Apple release a slew of new products, most of which pretty damn good. However, from now on I can't see anything other than the upgrading of the current lines in the next 12 months, and that kinda progress don't get them share prices rocketing.

Just mho ..... shares prices may go up as well as down.

 

[tristan]

If you can't read a financial statement, then you shouldn't own stock.

And if you can read a financial statement, then what are you doing buying Apple stock?

Seriously, Apple is actually starting to be a company with some decent earnings, which is good, but you can definitely argue that the stock price has moved ahead of those earnings.

 

[quackattack]

Really? What do you think is the right price?

Well, Apples stated net worth is around $7 a share..... thats probably a little generous, gererally they probably have about $10 in net assets. Of course this doesn't factor in earnings.....

Apple is trading at around 32 times its projected earnings... but before you panic realize that other tech companies trade trade with a high P/E ratio Dell is around 23 I think.

Even still Apple has great potential, so this may not be out of the question. Valuing stocks is a tricky business. But with Apple I think if you settle in for a while, we will see some more upward motion. We just need to be patient as it digests some of the recent rises in price.

 

[virividox]

apple has no debt, which helps make its stock price high

but its really a lot of hype, their profits cant justify their high stock price. if u have their stock now and bought when it was low, good for you but buying now, eh seems kinda like your just jumping on the bandwagon and i dont think that bandwagon is going that much furhter

 

[Chappers]

The Sony players look like something for Barbie.

 

[quackattack]

The Sony players look like something for Barbie.

Actually there is another model that looks very cool.

Shuffle with a screen! Apple better take note. Too bad it won't take AAC.

 

[agentmouthwash]

I hope Apple are paying attention to what's going on.
On the subway the other day I watched about 6 people
drool over this person's orange creative zen micro.
They were all talking about napster-to-go and how
people are selling their ipods on ebay for these
new units that have FM radio, audioin and longer battery.
One kid was saying how the new ipod mini colors are
so 80's and flourescent and the zen has more choices
and are cooler.
The whole thing made me sad.