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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LawsofPhysics's picture

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

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.

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.

MillionDollarBogus_'s picture

Romney was suposed to win.

I went all in on AAPL last friday.

I'm hosed.

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...

redpill's picture

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

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?

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.

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?

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.

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.

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...

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."

toady's picture

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

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

 

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)!

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.

augustusgloop's picture

Follow Dennis Gartman on elections & gold.

GetZeeGold's picture

 

 

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

edifice's picture

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

Unprepared's picture

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

I'm going to sue their ass.

/sarc

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

SeverinSlade's picture

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

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.

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.

buzzsaw99's picture

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

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.

scatterbrains's picture

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

 

SheepDog-One's picture

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

buzzsaw99's picture

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

Unprepared's picture

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

 

Thank you for shopping with us.

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?

Timmay's picture

Apple is satanic, check the logo.

ziggy59's picture

And Cramer still has a job? What a country!

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]

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! 

youngman's picture

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

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.

Strange-Currencies's picture

All very thoughtful comments

buzzsaw99's picture

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

Lendo's picture

iPhone 5 and removing Google Maps fail.  What jerks.

pods's picture

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

pods 

Lendo's picture

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

ExhiledInMass's picture

rookie here...what is VWAP Please?

machineh's picture

WHAT ... patent trolling isn't working?

Send lawyers, guns and money!

Sudden Debt's picture

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

THE IPHONE WITH A SMOOTHER GLAS TOUCHSCREEN!!!

 

 

dobermangang's picture

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