AAPL Enters Bear Market

Tyler Durden's picture




 

UPDATE: Within the first 90 minutes of the open, AAPL has traded down to under $564 - officially entering bear-market territory (down 3.4% today). These are 5-months lows for AAPL.

 

From the $705.07 jubilant highs on 9/21, the most widely held stock among hedge funds is sliding in the pre-market very close to its bear-market barrier. A 20% slide from those 'peak AAPL' levels is around $564, less than $10 away. For some this is the buying opportunity of a lifetime as those $1111 price targets and Apple TVs are far from 'priced in'; for others, every VWAP rip is now faded and orderly lines are being formed at the 'get me out of this' window... What was the alpha-generating master-of-the-universe-making stock in the last few years, is now the overweight, over-crowded, waiting-for-the-straw-on-the-camel's-back holding that managers love to hate as their bogeys drift and portfolios plunge. So much for buying high-beta to chase performance eh?

From 915ET this morning

 

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Wed, 11/07/2012 - 10:14 | 2955694 LawsofPhysics
LawsofPhysics's picture

That which cannot be sustained, won't be.  Long anything physical of real value, black markets, and physical PMs...

Wed, 11/07/2012 - 10:24 | 2955735 JPM Hater001
JPM Hater001's picture

I'm telling you I posted on this shit yesterday.

http://www.zerohedge.com/news/2012-11-06/markets-verdict-buy-stocks-buy-...

 

I hope service doesnt get sucky after they crash.

Wed, 11/07/2012 - 11:26 | 2956031 Stoploss
Stoploss's picture

If you really want to fuck with an iphone 5 owner, throw down your S III, or better yet, your Galaxy Note.

It will send the iphone owner out of the building in tears.

Funny thing about apples, if they arent kept clean, dry, coddled, and temp controlled, they tend to rot.

Wed, 11/07/2012 - 11:49 | 2956191 MillionDollarBogus_
MillionDollarBogus_'s picture

Romney was suposed to win.

I went all in on AAPL last friday.

I'm hosed.

Wed, 11/07/2012 - 11:59 | 2956256 JPM Hater001
JPM Hater001's picture

See thats the thing about manias.  Men go mad in herds.

You might want to tap the bus driver on the shoulder and ask him if he sees the cliff just ahead...

Wed, 11/07/2012 - 12:12 | 2956334 redpill
redpill's picture

Need more "thousands hedge funds crying out in terror and were suddenly silenced" memes

Wed, 11/07/2012 - 12:22 | 2956345 hedgeless_horseman
hedgeless_horseman's picture

 

 

GS shareholders selling while the OI and LTCG taxes are still low?

Giant Squid is down -5.5% so far this morning.

Maybe just locking in profits?

Wed, 11/07/2012 - 12:18 | 2956373 Precious
Precious's picture

Don't worry.  They only fired Scott Forstall, the guy who was responsible for the software on the two most popular consumer products on the planet today.

THE IOS OPERATING SYSTEM AND APPLE APPLICATIONS ARE THE ONLY FUCKING PART OF IPHONE AND IPAD THAT ARE 100 PERCENT APPLE DEVELOPED AND APPLE ORIGINAL PROPERTY.

AND TIM COOK FIRED FORSTALL, HEAD OF IOS AND APPLICATIONS, TO INSTEAD KEEP THE GUY THAT DESIGNS ICONS AND BEZELS, AND ANOTHER GUY WHO OUTSOURCES HARDWARE?

GIVE ME A FUCKING BREAK.  TIM COOK.  MORON OF THE YEAR.

Wed, 11/07/2012 - 12:25 | 2956439 Bananamerican
Bananamerican's picture

doncha almost get the sense Tim Cook was waiting for Jobs to pass so he could get his normal little hands all over Apple?

Wed, 11/07/2012 - 12:27 | 2956448 earnyermoney
earnyermoney's picture

Tim Forstall was responsable for the maps fiasco. The article in the WSJ indicated he was blaming Apple's customers for overhyping his POS maps app. He was fired when he refused to own up to his failures.

Wed, 11/07/2012 - 12:43 | 2956576 toady
toady's picture

If you let the top OS guy go because of a trivial media generated snafu you're definitely shooting yourself in the foot. I hope the next in line is competent or that may have been a game-over move.

Wed, 11/07/2012 - 13:35 | 2956591 Precious
Precious's picture

It wasn't a fiasco except in the minds of the lemming press. Get a brain, fucking press parrot.

http://www.businessinsider.com/ex-apple-employee-on-scott-forstall-leavi...

Wed, 11/07/2012 - 16:23 | 2957712 Nobody For President
Nobody For President's picture

I've never been an Apple fan boy (since I gave up the Apple II), but with Jobs gone, a certain spirit of real innovation is gone, replaced by tweaking what they have and staying the course.

I am reminded of an old Jules Feiffer cartoon when the ad exec comes home to announce he has been canned, and as his wife brings him his martini says brightly: "At least we have this long way from affluence to slide."

Wed, 11/07/2012 - 12:19 | 2956376 toady
toady's picture

That'll teach the sheep! How dare they vote D!

Wed, 11/07/2012 - 12:01 | 2956258 malikai
malikai's picture

Guys, O/T but you might all want to keep an eye on gold. Things might get a little funny around 0 diverg:

https://www.quantsig.net/live.html

 

Wed, 11/07/2012 - 12:03 | 2956277 homersimpson
homersimpson's picture

On a serious note, I'm really asking this because I want to learn. How do I decipher what I see on this chart (because there are a lot of abbreviations)!

Wed, 11/07/2012 - 12:14 | 2956351 JPM Hater001
JPM Hater001's picture

Yeah-

 

The first chart is Apple trading in the pre-market (you have to name a top price (limit order) and someone has to have offered a bid to match)  Those get paired and transacted at market open.  Apple was dropping and then started a leveling...until the market actually opened then it moved lower...quickly.

The second chart is apple over a longer time-line and shows that the decline continues.

Wed, 11/07/2012 - 12:39 | 2956536 augustusgloop
augustusgloop's picture

Follow Dennis Gartman on elections & gold.

Wed, 11/07/2012 - 10:26 | 2955741 GetZeeGold
GetZeeGold's picture

 

 

Samsung cut a deal for the Obamaphones......AAPL is screwed.

Wed, 11/07/2012 - 10:28 | 2955753 edifice
edifice's picture

That's good... They can call it: oPhone

Wed, 11/07/2012 - 10:35 | 2955788 Unprepared
Unprepared's picture

Hey, I have trademark rights on the oPhone name already.

I'm going to sue their ass.

/sarc

Wed, 11/07/2012 - 10:41 | 2955811 aint no fortuna...
aint no fortunate son's picture

I'm diggin that shitstorm in GOOG - makes for an incredible one-two punch on the hedgies' balance sheets

Wed, 11/07/2012 - 11:58 | 2956246 SeverinSlade
SeverinSlade's picture

DOW -300. Hello market? Campaign slogan was "Forward" not "Backward."

Wed, 11/07/2012 - 10:28 | 2955698 AssFire
AssFire's picture

A third world apple- it already looks browner.

 

Already they are renaming the technology as "Gold-Tooth" for the Obama phone upgrade...

They be coordinating their flash mobs and drug deals hands-free now. Along with the BitchTracker app. for the Pimps; look for their efficiency of destroying civilization to increase.

Wed, 11/07/2012 - 10:34 | 2955782 ThirdWorldDude
ThirdWorldDude's picture

Nope, sorry to disappoint you...

 

Here in the 3rd world we only cultivate Jonagold. What you're holding there is a USSA strain of Red Delicious.

Wed, 11/07/2012 - 11:23 | 2956020 buzzsaw99
buzzsaw99's picture

Holy crap ten freaking up-votes on that pos comment?

Wed, 11/07/2012 - 12:26 | 2956442 toady
toady's picture

ZH can be bizarre sometimes. When I see posts like that I assume the author learned everything they know about black people from Tyler Perry.

Wed, 11/07/2012 - 10:16 | 2955703 scatterbrains
scatterbrains's picture

where my I-crack niggas at ? Get in there and prop this thing bitchezz!

 

Wed, 11/07/2012 - 10:16 | 2955704 SheepDog-One
SheepDog-One's picture

OH NOEZ! What is Apple....raycis or somethin?

Wed, 11/07/2012 - 10:16 | 2955705 buzzsaw99
buzzsaw99's picture

Oh no, there goes modern day crAAPitaLism down the toilet. Who do we sue?

Wed, 11/07/2012 - 10:38 | 2955803 Unprepared
Unprepared's picture

Sorry, your guarantee does not cover water damage to you big apple.

 

Thank you for shopping with us.

Wed, 11/07/2012 - 10:58 | 2955706 Mercury
Mercury's picture

There's still a chance AAPL products could become a direct entitlement or get one of those arbitrary Obamacare waivers.

Which politicians do they own?

Wed, 11/07/2012 - 10:20 | 2955716 Timmay
Timmay's picture

Apple is satanic, check the logo.

Wed, 11/07/2012 - 10:20 | 2955717 ziggy59
ziggy59's picture

And Cramer still has a job? What a country!

Wed, 11/07/2012 - 12:16 | 2956360 philosophers bone
philosophers bone's picture

Yeah, OK, Cramer is wrong about AAPL.  But he's correct that silver isn't a "junk metal", right?  Hello? [cricket sound]

Wed, 11/07/2012 - 10:21 | 2955718 falak pema
falak pema's picture

imagine the trouble in the leveraged HF store who joined the Apple n Google bus madoffly; oh the pain on ending up in capitalist Sing-Sing...if you have to declare your losses to your mafia bosses and investors.

This will end badly like an offer to jump into the Hudson river that the HF managers can't refuse or defuse! 

Wed, 11/07/2012 - 10:22 | 2955724 youngman
youngman's picture

Obama will change the Obama phone to an Apple I-Obama phone....that will fix it

Wed, 11/07/2012 - 10:27 | 2955746 nameless narrator
nameless narrator's picture

O's first, second-term, executive order should be:  apple must do flash on iOS.  

the big kahuna wants to watch bballer clips of his fav team.

the stock gets pounded until they open up app delivery.

Wed, 11/07/2012 - 10:28 | 2955752 Strange-Currencies
Strange-Currencies's picture

All very thoughtful comments

Wed, 11/07/2012 - 11:25 | 2956028 buzzsaw99
buzzsaw99's picture

Disagree. tha crackas upthread be bangin' for the arayan bros.

Wed, 11/07/2012 - 12:40 | 2956550 machineh
machineh's picture

MOARons!

Wed, 11/07/2012 - 10:28 | 2955755 Lendo
Lendo's picture

iPhone 5 and removing Google Maps fail.  What jerks.

Wed, 11/07/2012 - 10:49 | 2955846 pods
pods's picture

But they made one thing bigger and the other thing smaller.
That's innovation!

pods 

Wed, 11/07/2012 - 11:08 | 2955932 Lendo
Lendo's picture

Whilst suing their vendors.  You can't make this shit up.

Wed, 11/07/2012 - 10:29 | 2955758 ExhiledInMass
ExhiledInMass's picture

rookie here...what is VWAP Please?

Wed, 11/07/2012 - 10:32 | 2955767 buzzsaw99
Wed, 11/07/2012 - 10:35 | 2955785 ExhiledInMass
ExhiledInMass's picture

now why didn't I think of that? thank you

Wed, 11/07/2012 - 10:29 | 2955761 machineh
machineh's picture

WHAT ... patent trolling isn't working?

Send lawyers, guns and money!

Wed, 11/07/2012 - 10:32 | 2955770 Sudden Debt
Sudden Debt's picture

LAUNCH IPHONE 6 NOW!!!!!!!!!!!!!!

THE IPHONE WITH A SMOOTHER GLAS TOUCHSCREEN!!!

 

 

Wed, 11/07/2012 - 10:34 | 2955780 dobermangang
dobermangang's picture

The next iPhone needs to be made of gold and capable of shooting lead.  It will be a winner.

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