Why is Apple Stock Getting Hammered Today?

Discussion in 'Apple, Inc and Tech Industry' started by crossingover, Apr 22, 2008.

  1. crossingover macrumors newbie

    Joined:
    Sep 15, 2007
    #1
    Closed yesterday at 168 and all seemed well...

    Then today, the day before earnings, apple is sinking like a brick currently at 159.97

    Can anyone make sense of it? Maybe I missed something, but I would've expected apple stock to hold its ground or go up before earnings, which are expected to have strong macbook and iphone sales.
     
  2. stoid macrumors 601

    stoid

    Joined:
    Feb 17, 2002
    Location:
    So long, and thanks for all the fish!
    #2
    The good news for me is that it has convinced me to hold on for a lot longer. I was going to sell if it went over $170 prior to the earnings call, but now I'll be sticking with it until it rebounds higher, even if that means 3-5 years+.
     
  3. wordmunger macrumors 603

    wordmunger

    Joined:
    Sep 3, 2003
    Location:
    North Carolina
    #3
    The stock went up yesterday on an optimistic early earnings projection. It went down today, probably due to people cashing in on yesterday's gains. You'll drive yourself crazy following the stock this closely. Just sit back and hang onto it for a few years. You'll do fine (but you should also have other stocks in your portfolio!).
     
  4. deputy_doofy macrumors 65816

    deputy_doofy

    Joined:
    Sep 11, 2002
    #4
    There was also a downgrade by an analyst today. I wish they'd drive the price ALL the way down so I can really load up. See it as a buying opportunity.
     
  5. crossingover thread starter macrumors newbie

    Joined:
    Sep 15, 2007
    #5
    I guess i'm just kicking myself for not selling yesterday and buying back today.

    I started buying apple a few months ago around 128 and would sell on spikes and buy on dips and then wait for spikes again. (usually about a week or two in between each buy and sell) This allowed me to accumulate much more shares of apple than when I started.

    I just find it hard to understand why it is tanking this much before earnings, which are expected to do better than the estimates.




    158.66 now.... maybe I should just ignore it for today and see what happens tomorrow
     
  6. IJ Reilly macrumors P6

    IJ Reilly

    Joined:
    Jul 16, 2002
    Location:
    Palookaville
    #6
  7. deputy_doofy macrumors 65816

    deputy_doofy

    Joined:
    Sep 11, 2002
    #7
    I'm not afraid of the drops. I've been long since my pitiful purchase around $20 pre-split. Only wish I'd have had real money back then.
    Kills me to think about it. :(
     
  8. crossingover thread starter macrumors newbie

    Joined:
    Sep 15, 2007
    #8
    turning off the quotes and gonna go do stuff and be productive.

    guess we'll see what happens tomorrow and on thursday.

    I think the sell off today would be a great time to buy, but unfortunately I already put all my capital in apple @ 154.

    Goodluck to apple longs!
     
  9. jackc macrumors 65816

    jackc

    Joined:
    Oct 19, 2003
    #9
    That seems like a good strategy after it works out a couple of times, but you could burned doing that too. You could end up buying on a major down move, or missing a big upside move by selling too soon.
     
  10. crossingover thread starter macrumors newbie

    Joined:
    Sep 15, 2007
    #10
    watched the stock today like a hawk... had cnbc on tv..

    as soon as they announced the apple numbers the stock shot up to $170

    I panicked and call the broker and by the time I got through to a rep it was at $160 I put in an order to sell at $162 and luckily got filled before 5pm!

    the stock is now at $158.8 after hours...

    phew... been a crazy roller coaster ride

    guess i'll wait to see what happens and buy back into again very soon
     

Share This Page