Apple's stock at 15 now?!

[thebt]

I just looked at Apple's stock price, ok it was just a little bit above 20 when the market closed.

But in the afterhours it changed -23% to 15$!!!

What's happening???

It tought they would finally go up to the 30 range...



I found it here: http://finance.yahoo.com/q?s=AAPL&d=e

 

[3rdpath]

after hours trading is very volatile...some crazy price swings happen.

re: aapl, its been overpriced for quite a while. its hovering below $20.00 right now and i expect it to meander downward some more. i don't think its just " chance" that many apple executives sold large chunks of stock at $23-25/share.

and the fact that its moving so quickly leads me to believe that some bad news is filtering thru the grapevine. if aapl hasn't increased in price with all of the new products, its gonna be a long, long time before we see $30 and quite a while before we see $25 again.

it'll be interesting to see aapl's next earnings report.

 

[Mr. Anderson]

Originally posted by 3rdpath
re: aapl, its been overpriced for quite a while. its hovering below $20.00 right now and i expect it to meander downward some more. i don't think its just " chance" that many apple executives sold large chunks of stock at $23-25/share.

and the fact that its moving so quickly leads me to believe that some bad news is filtering thru the grapevine.

So anyone hear any news? This sucks and its only going to cause the rumors to get worse. And right before MWNY, which usually sees an increase in stock price......

 

[OSeXy!]

From Macminute:

"Shares of Apple slide below $20
June 13 - 10:55 ET Shares of Apple are trading below $20 today for the first time in more than six months, having fallen more than $4 in the last two weeks. Affecting the price today is a new report from Credit Suisse First Boston that said it expects PC sales for the world will remain flat in 2002, with a 7% decline the second quarter, compared with previous estimates of a 3% decline. CSFB also said that consumer sales, which helped the recovery of PC sales in the fourth quarter of 2001 and the first quarter of 2002, have softened, and singled Apple and Gateway out as the two companies most likely to be affected by that decline, according to TheStreet.com. "

 

[Mr. Anderson]

Those Swiss bastards in Bean town, what do they know....

How I hate when this sort of crap happens....

 

[topicolo]

Doesn't aapl have enough cash and marketable securities to cover about $12/share? at $19, it seems like it's quite a bargain.

 

[3rdpath]

the only news i've read lately is that the demand for the new imacs isn't that great.... now that apple's gotten their delivery snafus solved.

apple does have a hefty cash account-not sure where it stands after all the company purchases that have recently been announced( and rarely does anyone do an all-cash deal...apple may have taken advantage of their high stock price and done some stock swapping ) we'll see....

and what spooks me more than a little is that we're seeing a 20% drop without any big public news. somebody knows something...

i predicted $20/share on may 3rd, now i'm predicting $13.75-and i'll jump back in. too bad i don't sell short...

 

[topicolo]

Originally posted by 3rdpath
the only news i've read lately is that the demand for the new imacs isn't that great.... now that apple's gotten their delivery snafus solved.

apple does have a hefty cash account-not sure where it stands after all the company purchases that have recently been announced( and rarely does anyone do an all-cash deal...apple may have taken advantage of their high stock price and done some stock swapping ) we'll see....

and what spooks me more than a little is that we're seeing a 20% drop without any big public news. somebody knows something...

i predicted $20/share on may 3rd, now i'm predicting $13.75-and i'll jump back in. too bad i don't sell short...

I don't think apple's stock will sink down below $15. At that rate, the shares would only have a $3 premium to their value in cash. Maybe those acquisitions did have some effect on their cash balance, but I doubt it'll be too much of a dent.

As far as I know, institutions were mostly buying shares as of march 31 (net increase of inst. ownership of ~20mil shares). The execs have only really sold about 3mil shares. That's only like 1% of apple's shares outstanding. I don't really think this is something we have to worry to much about. I mean, apple's just flowing with the market, which, unfortunately, is downward at the moment.

 

[gbojim]

and what spooks me more than a little is that we're seeing a 20% drop without any big public news. somebody knows something...

That's the problem with the way most of this crap works. They don't know any more than anyone else. They simply influence stock prices for their own gain and justify it through rumor or other events.

For example, there has been downward pressure on APPL because of "lower than expected demand for the new iMac". Based on what evidence? Apple does not publish those figures so there is no way for anyone outside of Apple to actually know what the figures are.

Now we have some executives selling off some stock. So what. This is the time of year people buy new houses, the place up in the mountains, do some renovations. They have to pay for things the same as we do - they just usually spend more money.

The next thing they will be complaining about is the 2nd quarter will be off. I expect it will be. This quarter is always weak.

That's just the kind of crap you have to deal with when you are a public company.

 

[Mr. Anderson]

I just checked a bit ago and it was back up to 19.52 - so its not as bad as it was....