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Investor Carl Icahn Dumps Apple Shares Over China Concerns
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They aren't transparent and don't have a public road map. There, I just summed it up for you. If you want to know why, that's exactly why. Not some tin foil hat conspiracy that everyone hates Apple or that the government is out to screw with them.
Anyone notice Icahn is an anagram of China? Illuminati confirmed.
I didnt know who this guy was and googled his name but ended up on a wikipedia entry about greed.
Apple is not a charity and does not have to do those things. And it does many civic minded activities anyway. Apple didn't do anything to satisfy Icahn and Wall Street. It did buy backs for its shareholders which mainly include ordinary and normal well to do folk who own diversified portfolio of stocks through their retirement and other accounts; not only or even in a majority the Wall Street titans. That is how the vast majority of US public shares are owned. Even the $2 billion that Icahn references is nothing to do with what he made. He made his investors $2 billion, but those investor are numerous.
The buybacks are reasonable uses of capital. Apple already is so busy it can't get around to refreshing something as simple as the Mac Mini. And it continues to have plenty of cash and so is able to do any long term investments that it wishes to do. It just can't come up with any additional ones that make sense. So tons of cash continues to sit around.
And buying far less profitable companies at a premium which is what would have happened if Apple had bought something like Twitter or Yahoo is not going to add to the bottom line.
The Apple Watch might not be selling in huge numbers, (although we don't know as Apple don't release sales numbers), however it is selling better than anyone else's smart watch. Apple pays role out continues, I see fairly regular reports on this site about those. It can't be easy though having to deal with individual banks and payment processors. As to innovation, I'm not sure what people expect; there was a 6 year gap between the iPod (2001) and the iPhone (2007), then 3 years till the iPad (2010). So in the last 15 years they've released 3 innovative, market leading devices. Maybe, maybe they're slightly overdue for something else big but, if they are, it's only just. Also, those examples don't include anything from the Mac range, such as the MacBook Air or iMac.
Whilst the stock market does indeed look to future growth it's also rather slow to recognise when that growth is unreasonable. The stock price at the moment appears to being punished for failing, yet again, to live up to analysts expectations, despite the fact those expectations where unreasonable and were, in fact higher than Apples own guidance. In context Apples sales this quarter were comparitively poor, in large part because the iPhone 6 sold in record numbers.
Apples stock also routinely went down after earnings calls when Steve Jobs was at the helm. Steve was a visionary though, there's no doubt about that, he was irreplaceable really, his feel for quality and user friendliness was without compare and still is. Therefor comparing Tim to him is pointless, there's no one else in the industry that is even close to Cook let alone Jobs in terms of ability to run Apple and no one else running a company as successful as Apple is right now. So if Cook is doing poorly, who would Apple replace him with?
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I think you are forgetting who owns who in this situation. Being a public company Apple belongs to share holders and thus has to do what they want (and not what Tim Cook or any other employee wants). It sounds like you are unhappy with capitalism.
Now the money is starting to talk maybe Apple will listen instead of constantly trying to convince themselves about the dreadful aberration the company has morphed into. You can feel the elevator shifting, the nose tilting towards the ground and Apple executives thinking about parachutes. We will be left in the pieces.
Billionaire Carl Icahn, who has been buying large amounts of Apple stock over the past three years, today told CBNC that he sold his stake in the company.Icahn, who sold his shares earlier this year, said that he did so based on worries over China's attitude towards Apple. Earlier this month, the Chinese State Administration of Press, Publication, Radio, Film and Television forced Apple to take down the iTunes Movies and iBooks stores, and Chinese officials believe that Apple is "too deeply established" in core industries in the country.
Apple sales also fell 26 percent in greater China in the second quarter of 2016.Prior to exiting his position, Icahn held 0.8 percent of outstanding shares. He told CNBC that he made approximately $2 billion on Apple and that he continues to view the stock as "cheap."
Apple shares have been on the decline since Tuesday's earnings call, where the company announced its first ever drop in iPhone sales and its first year-over-year revenue drop in 13 years. Apple stock is down approximately 2 percent today.
Article Link: Investor Carl Icahn Dumps Apple Shares Over China Concerns
Unfortunately they will commit by removing the headphone jack.
I am dead serious, they need a big shake up and Cook (if he stays) has to let everyone know that nobody is untouchable. nobody, Ive included.
Made a boatload of money and then jumped ship. SHIP! Fair-weather investor. This is what's wrong with the market, speculators who drive the price of everything we buy. Not any different than the oil speculators.
You are right, it would not be easy. But if the started with some lines, it would be a huge threat. Also labor in India is cheaper than China. In the long run with the mountains of cash Apple has it could be done. The plus be dealing with a much more friendly government to business and to the U.S. I know all manufacturing can't be move to the U.S. but some would be good both for our job situation here and great P.R. as well.
Yup! Mainly so he could find a willing buyer whenever he wanted to unload massive blocks of stock, such as reportedly *right now*.
To Apple's credit, they've ridden a wave of hype for years. Complacency was bound to set in, temping them to coast while engaged in serious profit taking.
Now it's time to get back to business. If Apple applies themselves they can right the ship. If they choose denial they'll have an even bigger problem to manage.
.... Please tell me you're kidding.
Ones a sexy sleek design, the other is a RUMOURED mock up in the typical fuzzy view so you can't tell I Photoshoped it photo!
So I was NOT joking.
That is not the problem. We knew that stocks were going down "but new iPhone and iPads are going to fix it through sales in the long run".
Now we don't have this "hope".
I came so close to selling at $112 to cut some of my losses. I bought in at $92 in 2014, ran up to around $132 and then sold part at $128, then bought in bigger around $117 in October 2015 only to have it go down from there. How in the hell has AAPL lost nearly 20% of their value in only two weeks?? I've been really busy trying to sell my house and find a new one so it's been hard to track all the analysis. Not sure if I should keep holding on or dump it and take a bigger loss. It took a big swing up from $92 to $112, but I'm not sure if it will do that again anytime soon. Everyone is just crapping all over this stock right now because they only had tens of billions in profit. Meanwhile companies like Amazon barely make any profit (and often lose money) and yet they're fine. Freaking pisses me off. Hopefully the $92 floor holds because this stock has a lot of potential. Apple even shored up an opportunity to open stores across India today and they still don't care. I think as soon as I get back to breaking even I'm gonna dump their stock. It's just too volatile for my taste. At least they're increasing their meager dividends.
Just move the manufacturing plants to another cheap wage place.. Africa?
Without the west, china's economy would collapse.