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A HAAPLbinger Of Things To Come: Why Apple Breached Its "Generational Bottom" All Over Again

Tyler Durden's picture


It is often said that a picture paints a thousand words; in the case of this image, we fear that a photo might just kill a thousand Apple Bulls' hopes. Unlike the euphoric (and perhaps 'paid') crowds that emerge to wait night-after-night under the stars in the hopes of being one of the first to get their hands on next-generation iMaterial, it appears the Chinese are just not that bothered when it comes to iPhone5. The photo below, via WSJ's China Real-Time Report, shows the line (all two people) waiting outside of the Beijing Apple Store on the day of the launch of iPhone5 in China. Before you ask; no, one of them is not Gene Munster doing channel-checks. As the article notes, this is arguably "the least eventful launch of an Apple device in the company’s four-year history in the Chinese capital." They go on to note, "at 8 am on Friday, when the store opened to hurrahs from employees, only two consumers stood inside a cordon set up by Apple, though they were joined by a desultory snow man someone had made on a bench near the entrance," and we understand the snowman was under-impressed with the iPhone5. Perhaps this sole image is the best reflection of a 'fad' product and why the 'fad' stock price just pierced generational lows (at $517.48 in pre-market). WWJTD?




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Fri, 12/14/2012 - 09:21 | 3062252 GetZeeGold
GetZeeGold's picture



Abandon hope.....all ye who enter here.

Fri, 12/14/2012 - 09:23 | 3062257 Looney
Looney's picture

But.. but... Ilene says BTFD?  ;-)


Fri, 12/14/2012 - 09:34 | 3062284 Xibalba
Xibalba's picture

Kim Kardashian has a generational bottom.  

Fri, 12/14/2012 - 09:44 | 3062301 azzhatter
azzhatter's picture

If she had as many dicks sticking out of her as she's had in her she'd look like a porcupine

Fri, 12/14/2012 - 09:46 | 3062312 HoofHearted
HoofHearted's picture

You missed it there. Her generational bottom has definitely been breached...over and over and over again.

Fri, 12/14/2012 - 10:12 | 3062385 TruthInSunshine
TruthInSunshine's picture

It's ridonkulous to think that the iGadget saturation, whereby iGadgets that work nearly the same way that iCanHazFoxconn?'s other products (made for other companies, in the same facility, with different logos slapped on) work, but just cost more (like the fanciest dijon ketchups), is just a fad.

Apple be cookin' up some fresh, hot, defs in Cupertino. Holla, bitchez.

p.s. That snowman on that bench pulled his pants down when he heard the snowblower was coming.

Fri, 12/14/2012 - 10:34 | 3062480 Spastica Rex
Spastica Rex's picture

snowman + snowblower = +1

Fri, 12/14/2012 - 11:40 | 3062726 Antifaschistische
Antifaschistische's picture

IGadgets are NOT fads!!!   This is a permanent paradigm shift just like Cabbage Patch Kids and Beenie Babies.

Fri, 12/14/2012 - 14:31 | 3063442 hannah
hannah's picture

im just loaded iOS6 on my pet rock and i get all the android apps now....

Fri, 12/14/2012 - 09:46 | 3062310 Squid Vicious
Squid Vicious's picture

CNBS ratings... generational bottom...

Fri, 12/14/2012 - 09:54 | 3062336 Widowmaker
Widowmaker's picture

Isn't kardashian just slang for slut with a butt?


Fri, 12/14/2012 - 09:56 | 3062342 CVfriendship
CVfriendship's picture

Made my Friday. 

Fri, 12/14/2012 - 10:37 | 3062495 Going Loco
Going Loco's picture

No matter. They will sell iphones to American hobos instead.

Fri, 12/14/2012 - 10:40 | 3062499 The trend is yo...
The trend is your friend's picture

this should mean that spx will move up by 2% as appl falls

Fri, 12/14/2012 - 09:23 | 3062258 101 years and c...
101 years and counting's picture

all the chinese have already donated 1 kidney to pay for their iPhone 2.  if they donate the second kidney, they die.  those 2 peope will be dead by EOD.

Fri, 12/14/2012 - 09:25 | 3062262 insanelysane
insanelysane's picture


Speaking of our friends in the east, you need to find the video of the North Korean citizens out in the streets spontaneously celebrating their recent rocket launch.  

Nothing says dance like its 1999 than having some comrades off camera pointing guns at you.

Fri, 12/14/2012 - 09:45 | 3062307 azzhatter
azzhatter's picture

I thought they were cheering the new Ifrone

Fri, 12/14/2012 - 10:26 | 3062446 CPL
CPL's picture

That would probably require electricity.

Fri, 12/14/2012 - 10:28 | 3062460 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Kim JU has a new iThrone

Fri, 12/14/2012 - 09:27 | 3062264 Fidel Sarcastro
Fidel Sarcastro's picture

iHype and iScrew'em  welcome to competition bitchezz

Fri, 12/14/2012 - 09:37 | 3062289 intric8
intric8's picture

Competition in the form of apple knock-offs at a mere fraction of the price. Apple is being egotistical here methinks

Fri, 12/14/2012 - 09:45 | 3062305 HelluvaEngineer
HelluvaEngineer's picture

You mean working Chinese people won't pay the equivalent of an extra month of labor just to have the real thing?  They need to get their priorities in order.

Fri, 12/14/2012 - 10:34 | 3062481 Spastica Rex
Spastica Rex's picture

It's why they will never challenge the US as the world's sole superpower.

Sat, 12/15/2012 - 00:13 | 3065674 ZeroAvatar
ZeroAvatar's picture

You can hear the one guy saying, "Can you hear me now?".

Fri, 12/14/2012 - 09:28 | 3062267 fonzannoon
fonzannoon's picture

Cue aapl ramp that always happens after ZH post. Courtesy of Kev.

Fri, 12/14/2012 - 09:29 | 3062271 JustObserving
JustObserving's picture

The Chinese do not have a Bernanke printing $1.02 trillion a year  ($3248 per citizen)  to spend on istuff.

Fri, 12/14/2012 - 09:39 | 3062291 LetThemEatRand
LetThemEatRand's picture

When you say it like that -- "$3248 per citizen to spend on istuff" -- it almost sounds pro-middle class.  Bat alas, the devil is in the details.  In this case, the "details" are that the $3248 "per citizen" is going straight to a few bankers.  The only role the "citizen" has in that money is that they or more likely their descendants will get to pay it back through taxes some day.  Pretty cool trick to be able to print money for yourself and send the bill to someone else.

Fri, 12/14/2012 - 10:10 | 3062394 centerline
centerline's picture

Eventually are we each going to get a package that tells us all about the banker we are supporting and get to see what extravagant things he is doing?  Kind of like the Sally Struthers African kid thing in reverse.  I mean, if I am coughing up over $12k from my family, shouldn't I get to live vicariously through my banker?

Fri, 12/14/2012 - 10:36 | 3062489 Spastica Rex
Spastica Rex's picture

Funniest comment I've seen in weeks. I wish I had more than one upvote.

Fri, 12/14/2012 - 09:30 | 3062273 eigenvalue
eigenvalue's picture

But except for AAPL, all the markets seem eerily quiet. Few people still believe that there will a Grexit because we have the OMT and seemingly endless free money from Germany. Does anybody think the fiscal cliff will still be unresolved by the year end? 

What will be the next Risk-Off trigger?

Fri, 12/14/2012 - 09:37 | 3062290 semperfi
semperfi's picture

There will be no Grexit. It has already been turned into an EU colony.  Job done. 

Call the 'fiscal cliff' a 'wealth grab', along with KenyanCare. Call it what it is.  Its a big step towards the Demomarxists communist panacea. The Demomarxists are not going to 'reach a deal' for they WANT this to happen.  Then they'll successfully blame it on the republicans (because they are wusses who forgot how to fight back, or worse, traitors to the cause) in the House and get the 47% Taker Nation to vote Demomarxist for the House in 2014.  Then the Demomarxists can really get to work controlling all 3 branches of govt.

Fri, 12/14/2012 - 11:35 | 3062710 AnAnonymous
AnAnonymous's picture

Its a big step towards the Demomarxists communist panacea.

A big step toward the 'american' panacea.

'Americans' in Europe are fiddling to the tune of 'americanism', nothing else.

Fri, 12/14/2012 - 09:43 | 3062296 JenkinsLane
JenkinsLane's picture

Angela Merkel will do everything in her power to ensure there is no Grexit prior the German elections in fall 2013 because she

does not want the German people to realise they will suffer a genuine, real financial loss once Greece exits. The only way

Grexit will happen before then is if it comes up from the streets. I guess they also need time to buttress Spain prior to Grexit

to prevent a domino effect but the Spaniards aren't playing ball on that one.


Fri, 12/14/2012 - 09:31 | 3062274 semperfi
semperfi's picture


Fri, 12/14/2012 - 10:12 | 3062399 centerline
centerline's picture

then iPlunge

Fri, 12/14/2012 - 09:31 | 3062275 Jason T
Jason T's picture

he went full retard on apple.  

Fri, 12/14/2012 - 09:32 | 3062277 Dr. No
Dr. No's picture

I could have told you that.  Why wait in line when iKnock-off stores are two blocks over??

Fri, 12/14/2012 - 09:33 | 3062283 AU5K
AU5K's picture

Could be a good buy in the $350 - $375 range for a trade though...

Fri, 12/14/2012 - 10:22 | 3062434 CPL
CPL's picture

In it's historical range when Steve Jobs isn't in house.


Under $20.

Fri, 12/14/2012 - 09:42 | 3062298 AnAnonymous
AnAnonymous's picture

Chinese have a long path to walk to achieve 'american' fullness.

Stuff like this show how much backward they are compared to the standard of 'americans' you can find around the world.

'Americans' have managed to produce behaviours you could expect from starving people lining up for food and water (hence tortured by the pang of hunger and thirst) but these 'american' times, by people who are hungry for bits of cloth or electronics.

That is the great advancement of humanity as thought by 'americans'

Fri, 12/14/2012 - 12:56 | 3062986 akak
akak's picture

Chinese have a long path to march to achieve American fullness of sanitation.

Stuff like this show how much backward they are compared to the standard of human toiletry you can find around the world.

Chinese shitizens have managed to produce roadside behaviours you could expect from filthy infants lining up their diapers after food and water (hence tortured by the pang of insanitation) but these Chinese shitizenism times, by people who are hungry for bits of wokked dog and bear penis soup.

Blobbing-up and eating endangered animals, like animals: that is the great advancement of humanity as thought by Chinese shitizens.

Fri, 12/14/2012 - 09:43 | 3062300 jimijon
jimijon's picture

Apple has peaked, Apple is doomed, Apple is a toy, Apple just makes fruity colored underpowered computers, Apple is overpriced fad, Apple is doomed.

Over and over, over the years, the same bs from emotional tools.

A little bit lower and I will buy another option!!!


Fri, 12/14/2012 - 09:49 | 3062321 HelluvaEngineer
HelluvaEngineer's picture

Sorry.  You obviously never owned one in the 80's - the first time they got crushed by their competition.

Fri, 12/14/2012 - 10:27 | 3062454 jimijon
jimijon's picture

Wrong, I have. I have been with Apple since the Apple II. Yes, I briefly did a few incursions into Windows, but then luckily I discovered linux/unix and of course the Internet which was run on unix / linux. Never had to deal with MS again!

Just finished an app for Android and iOS. Without question, Android was a supreme pain in the ass. No wonder why gamers are avoiding it. Also, the iPhone 5's weight is perfect for gaming! You just don't get tired holding it.

Nonetheless, I am agnostic and developing a SaaS solution to handle the different platforms. 


Fri, 12/14/2012 - 10:40 | 3062501 Spastica Rex
Spastica Rex's picture

Did you play that game with the two green-screen pirates who fought with fencing swords? 

I loved that game.

Apple IIs were the best. I was a poor kid and didn't have one, but my high school did. That must of been what, 1982?

You're pretty old for a developer.


Fri, 12/14/2012 - 09:44 | 3062303 Squid Vicious
Squid Vicious's picture

I am Joe Terrabona, I am Fast Money....

Fri, 12/14/2012 - 09:45 | 3062308 Atomizer
Atomizer's picture

You'll need to purchase a $0.99 app to get your answer.

Fri, 12/14/2012 - 09:49 | 3062319 Paper CRUSHer
Paper CRUSHer's picture

.......Doug JacKass has jus' sent an urgent email message to his clients.

"Stop harassing me"


Fri, 12/14/2012 - 09:51 | 3062326 marginnayan
marginnayan's picture

"no, one of them is not Gene Munster doing channel-checks."

It's hgh time for Gene Munster himself to stand in queue to do channel-checks! LMAO.

Fri, 12/14/2012 - 09:52 | 3062332 jiggerjuice
jiggerjuice's picture

That Apple store was Sanlitun's biggest attraction for a while. But really, it isn't for the villagers, it is for laowais and the wives of the guys that run SOEs.

Fri, 12/14/2012 - 09:54 | 3062337 bonzo112358
bonzo112358's picture

Seeking Alpha-ers comments are always the best.  They will defend this thing all the way down.  They've also been buying since $650 though so I guess they need to convince themselves that this is just a temporary drop in the stock.  They posted a similar article and the comments are, as usual, very entertaining.

I know a number of Applephiles that have purchased every iPad and iPhone.  They do love their iPads but they really love their SIII.  You know the fad is done when even the hardcore Apple fans move over to Samsung.

Fri, 12/14/2012 - 09:59 | 3062347 nedwardkelly
nedwardkelly's picture

Don't worry, next year they will pay people over there to stand in line to make it look more impressive

Fri, 12/14/2012 - 10:56 | 3062553 catacl1sm
catacl1sm's picture

Pay? Why pay when the govt can just compel people to stand in line at the end of a gun?

Fri, 12/14/2012 - 09:59 | 3062349 1eyedman
1eyedman's picture

of course no one is in line here.  the line is at the factory...where the factory mgmnt takes a few off the line, damaged, and sells them to the factory next door that will make knock-offs with the 'lost' raw materials from factory 1.     

there is a difference, politically for certain, and culturally between japan and the chinese.  the chinese want to follow the japanese model, but cant seem to grasp the concept of building something better vs a lower grade copy; or creating something better (not counting better ways of stealing intellectual property).     mabye its the one party dictatorship that they are.     even the basic old encyclopedias reflect the soviets imagined progress through forced labor and hitting targets on steel, coal, 'cars'  regardless of the rest of the economy and the west thought they were a threat.  there was nothing but a hollow shell.  

militarily?  'threat of chinese build up"?    theres a new false threat.   the chinese recently marked a milestone:  they launched their first jet off an aircraft carrier (refurbished ukrainian cruise ship).    we and our allies will be fine as long as we follow the sage advice 'never get involved in a land war in asia'....

Fri, 12/14/2012 - 10:05 | 3062366 overmedicatedun...
overmedicatedundersexed's picture

taking profits before we all benefit from Obumas next 4 yrs..animal spirits just got put in a cage and on bread and water rations, somehow that might sound good in a few years.

Fri, 12/14/2012 - 10:02 | 3062354 agNau
agNau's picture

Pump & Dump. Difference from norm is every institutional investor has been backing the truck for the last year. Will not paint a window pretty.

Fri, 12/14/2012 - 10:02 | 3062357 Volaille de Bresse
Volaille de Bresse's picture

"Nothing says dance like its 1999 than having some comrades off camera pointing guns at you."


Is it really more appaling than footage of a Black Friday? 

Fri, 12/14/2012 - 10:07 | 3062381 Flakmeister
Flakmeister's picture

Great moniker.....

Ever see a farm where they are raised?

Fri, 12/14/2012 - 11:24 | 3062655 HalinCA
HalinCA's picture

My mouth is watering ...


Truffle-stuffed Bresse chicken in a bladder in Paul Bocuse restaurant in Collonges (3 Michelin stars)

Fri, 12/14/2012 - 13:11 | 3063033 Flakmeister
Flakmeister's picture

A good friend was over last night and I cracked a 1989 Vin Jaune....

Fri, 12/14/2012 - 10:06 | 3062375 TrumpXVI
TrumpXVI's picture

Investors are being pumped by Wall Street to get ahead of themselves on these developing markets.  Most of the population of these countries are no where near as well off financially as the Street wants you to believe.  Not only that, but they don't have access to the level of credit that western consumers are pumped up with, nor do these people have a consumer culture.  The opposite, they have a conservative, almost "Great Depression" mindset of thrift.



Fri, 12/14/2012 - 10:08 | 3062387 marginnayan
marginnayan's picture

Breaking - UBS lowers fiscal 2013 EPS forecasts by 10% to $47/share. UBS lowers March, June and Sept metrics.

Hey Gene Munster, it 's your turn now. LOL.

Fri, 12/14/2012 - 10:10 | 3062397 azengrcat
azengrcat's picture

Take 200 assembly jobs back to America; lose 50 billion in market cap.

Fri, 12/14/2012 - 10:16 | 3062404 williambanzai7
williambanzai7's picture

Here is a curious piece of trivia for you to digest.

Although Greater China (Greater China) is the biggest market for high end/luxury consumer goods, the showpiece store locations in Mainland China run flat on revenues. I understand that premium brands such as LV are actually provided rent free space in some locations with enticements such as free fit out. Even though they don't make money on store sales in China, they all feel it is essential to open locations for brand awareness etc.

I was told this by someone who is active in this end of the retail business in China.

So where do these brands net their huge Greater China sales revenues? The answer is simple. In Hong Kong. The mainlanders come to Hong Kong to shop for reasons involving a combination of PRC luxury good taxes, off-shore accounts and the culture of business gifting.

If you go to the two Apple stores in Hong Kong, they are jam packed with mainlanders. A third is scheduled to open tomorrow in Causeway Bay, the most expensive retail district in the world.

HK people typically buy their phones in the local phone stores that inundate street level retail.

Additionally, at previous Apple events in Beijing and Shanghai, there were serious issues raised concerning crowd control and public order. I recall that some stores were forced to close due to rioting. So now they have implemented a store access reservation system. No online reservation, no entrance.

Just some details to consider.

Fri, 12/14/2012 - 10:19 | 3062425 Aegelis
Aegelis's picture

Although I don't like Apple products, I don't understand what the obsession is with hoping Apple will fail.

Fri, 12/14/2012 - 10:36 | 3062488 Going Loco
Going Loco's picture

It is a symptom of the new American hatred of success. I think you caught that bug from us Brits. 

Fri, 12/14/2012 - 10:48 | 3062529 williambanzai7
williambanzai7's picture

It is our new found love for all things Korean. Psy, Kim Jong Un and Samsung.

Fri, 12/14/2012 - 11:25 | 3062674 edifice
edifice's picture

It's a natural reaction, when something is perceived to be "too big." People like things small-ish and local, not ginormous and out-of-touch.

Or, it could just be that Apple has been running on aesthetics alone since 1998, forsaking functionality, and the iPhone 5 was the proverbial straw to break the camel's back. :)

Fri, 12/14/2012 - 10:22 | 3062437 yogibear
yogibear's picture

What do you expect from a CNBS crooner?

Always a good time to buy from these people, unless the street has heavy short bets on.


Fri, 12/14/2012 - 10:29 | 3062456 Hobbleknee
Hobbleknee's picture

Of course the line is only two people long; most Chinese work during the day.

Fri, 12/14/2012 - 10:31 | 3062468 otto skorzeny
otto skorzeny's picture

my wife had a "generational bottom" 10 years ago-but -after 2 kids- not so much

Fri, 12/14/2012 - 10:37 | 3062494 Mitch Comestein
Mitch Comestein's picture

I have never seen that clip before until now.  Either that guy is paid to say that with such optimism or ....and this is my professional opinion....he is a fucking idiot.  How can you say generational low about ANYTHING out there. 

Fri, 12/14/2012 - 11:01 | 3062565 taketheredpill
taketheredpill's picture

Let me know when the fake Apple stores start converting to fake Samsung stores...


Fri, 12/14/2012 - 14:33 | 3063455 Zymurguy
Zymurguy's picture

Meh, the Chinese already have iPhone 5's - either the real ones their relatives have snuck out of the factories or the knock off's that came out months ago.

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