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Apple Stock Tanks: Biggest Drop in Seven Years

g00k said:
@allmIne
i guess we all know what u mean but ur comparison was really bad...
bentley has customers who owns millions of dollars...
apple customers are mainly academics/students with a pretty good salary...
so a eco crisis affects apple customer ship way more than bentleys....
if all notebook companies lower the prices and netbooks are gonna be the top seller for years than apple has to follow in their own way... but still they have to follow.
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The comparison was intentionally very extreme, so I labelled it as such, purely to get the point across. I don't believe it was 'bad', but that's imho :)

Yes, an economic crisis affects Apple's customer base as a whole way more than Bentley's, and so in turn it would affect a certain percentage of Dell's customer base, I believe, more than a certain percentage of Apple's.
 
I firmly believe that Apple stands to OWN the mobile phone space in the same way it owns the digital music player space. BUT - it's going to be a long haul, and I for one have no option but to ride it out now.

...but at just over $100 APPL is a steal (in the long term).
 
jbernie said:
Riiight, that is a quick way to buy a valuable commodity and screw it in no time at all, the last thing Apple needs is to do something like and alienate all the existing customers who run Windows. May as well tell them the next upgrade will cost $3000 per seat.
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I didn't meant they should start tomorrow.

Just think what they've done with eMagic. Logic was cross-platform once.

It was just meant as a nice investion to divert the software portfolio and was the first thing, that came to my mind. It was just meant as a response to the usual "Why doesn't Apple buy Adobe?"-phrases. If you ask me, Intuit also looks quite attractive for software diversification (9.69 B $), as does Electronic Arts (11.48 B $).
 
jbernie said:
Very true, the biggest question will be how many of Apple's customers were people buying up into their products and needing to stretch a bit to do so. When people are confident in their job stability etc etc, they are more likely to spend that extra cash to obtain that "good" that they aspire to own. In bad times that buy what they can afford at most.

Although I could see the iPod line taking a hit it is the computer lines that concern me the most due to the price points. Hard to fault the iPods, that being said the iPod lines take a beating then Apple's stock price could be in more serious trouble. That being said, the iPod will probably keep the current market share or close to it, just the market as a whole will shrink.
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Agreed :)
 
aufmobi said:
this is pretty rough, it's hard to look at my investment as a long term option now when the stock has fluctuated +/1 $100 this year alone.

Who else is banging their heads into the wall right now for not selling back at $200?
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Apple has 2 products with growth ahead -- Mac and iPhone. AppleTV may morph into a third growth engine. The stock may not recover for a while but it will recover. Analysts are usually wrong. That's why indexes outperform most funds. If you're long, why should today matter?
 
The market for Apples products has expanded beyond US & EU recently, I believe this will offset any spending reduction in the west.

Dont miss this opportunity to buy, cos when the rebound happens, its gonna be BIG!!!
 
As of September 29, 2008:
Over a 6mo period AAPL is down ~25%
Over a 1yr period AAPL is down ~30%
Over a 2yr period AAPL is up ~100%
Over a 3yr period AAPL is up ~150%
Over a 4yr period AAPL is up ~500%
Over a 5yr period AAPL is up ~900%

Alright, draw your own conclusions.
 
tons of hedge funds have very large positions in AAPL and those funds have been deleveraging and seeing investor redemptions. Then you toss in the analyst activity today and general state of the markets, and you get some wild swings. here's a bunch of tagged posts on AAPL, including hedge fund ownership (scroll down) etc: http://www.marketfolly.com/search?q=aapl&x=0&y=0
 
I really didn't want to sell my AAPL shares last week, but now I am glad I did. Either way, it is a good time to buy, it will bounce back in the next couple months.
 
IJ Reilly said:
50%. It happened during after-hours trading in September, 2000. I remember it all too well.
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I thought there was a day where it dropped from 40 to 20 in the regular session around 2001?

Or am I just thinking of what you mentioned, but remembered it incorrectly?
 
Right now, somewhere, Steve is on a rampage. Screaming "The seas shall run red with the blood of analysts! No one shall be spared from my personal hell." as he tears a few programmers in half with his bare hands over his head.
 
Consultant said:
Dow takes record fall after bailout fails
http://money.cnn.com/2008/09/29/markets/markets_newyork/index.htm?cnn=yes

Actually it's more like Bailout Bill was rejected at this time. It MIGHT still happen in the future.

Tech stocks, such as Apple are more volatile. Many tech stocks are down double digits % today.
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Again, the downgrades hurt, hence the disproportionate fall for AAPL. This is beyond volatility; it's closer to a bloodbath. I sense real panic setting in, thanks to Congress.
 
Unspeaked said:
Just out of curiosity, what makes you think we'll see a bottom so soon?

I don't see any reason to think things will be any different a week or month from now than their are today.
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My analysis is based on technical indicators, patterns, and price projections. From those dates I indicate, I expect to see a recovery rally. We'll have to wait and see how this all plays out. So many externalities in the market recently!
 
TechnoLawyer said:
Apple has 2 products with growth ahead -- Mac and iPhone. AppleTV may morph into a third growth engine. The stock may not recover for a while but it will recover. Analysts are usually wrong. That's why indexes outperform most funds. If you're long, why should today matter?
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What good does a good product pipeline do if no one is going to buy them. Just speaking anecdotally I had planned on buying whatever the next MBP is that supposedly drops next week. With today's market crash and what looks like financial uncertainty for some time to come that plan is now off. I'll keep my Gen 1 MBP until things look a little cleaner. I'm sure I'm not alone here. Poor sales = poor stock performance. All retailers are predicting a perfectly dismal Xmas season. That is why AAPL was downgraded.
 
Unspeaked said:
I thought there was a day where it dropped from 40 to 20 in the regular session around 2001?

Or am I just thinking of what you mentioned, but remembered it incorrectly?
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IIRC, it was actually up that day during the regular session, then dropped 50% from around $60 to $30 after hours, then more over the next few days until it bounced at the bottom, in the low teens. That was in September of 2000 as I recall.
 
rockosmodurnlif said:
As of September 29, 2008:
Over a 6mo period AAPL is down ~25%
Over a 1yr period AAPL is down ~30%
Over a 2yr period AAPL is up ~100%
Over a 3yr period AAPL is up ~150%
Over a 4yr period AAPL is up ~500%
Over a 5yr period AAPL is up ~900%

Alright, draw your own conclusions.
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Buy low, sell high, if you bought high it is too late now and you just have to sit on a picket fence uncomfortably for the next few years waiting to make money on your stock.

All depends on when people bought the stock, long term trends it doesn't look that bad.
 
Not a good day in general for anyone... Dow down 777 points as Bailout is rejected, Wachovia Fails, and Washington Mutual Fails. Also 2 banks in Europe failed as well.

While Apple Lost 22.34, Google also lost 45.06

tech stocks are more volitile as technology is considered luxury spending.
 
Apple was not the only one that was shorted recently. Same thing also happened to RIMM (just the other day, in fact). RIMM shares nosedived as their ratings were cut.

The difference? The AAPL ratings were cut based on... speculation of what is going to happen (and we won't really know until October earnings report). The RIMM ratings were cut based on actual official earnings reports as of 2 days ago.

Wall Street is stupid. But we already know that. In fact, HOORAY for killing that stupid $700 billion "Wall Street bailout plan". I don't want any stupid failure companies to be bailed out. They were responsible for trashing their own business, taxpayers should never bail them out. Let them go bankrupt.
 
MacTraveller said:
Wall Street is stupid. But we already know that. In fact, HOORAY for killing that stupid $700 billion "Wall Street bailout plan". I don't want any stupid failure companies to be bailed out. They were responsible for trashing their own business, taxpayers should never bail them out. Let them go bankrupt.
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Wall Street is what it is. As for the bailout plan, I lost more in the market today than I would have if I'd simply written a check for my share of the bailout. Probably more like twenty times as much. So yeah, hip hip hooray. I'm waving a flag over here in celebration.
 
rdowns said:
I'm still long. With a cost basis of around $11, I'm still happy. We'll get this bailout bill behind us and march back up.
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well, that didn't happen. tomorrow will be very interesting.

apple's future is still strong. anyone looking for a good buy would probably be wise to jump in right now. if only i had the money . . .
 
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