New "Generational Low" For AAPL

Tyler Durden's picture

Unless you bought Apple stock before Valentine's Day this year, you are now underwater. In what must be the best evidence of how quickly a liquidity-fueled over-owned bucket of over-optimistic extrapolation can see sentiment swing violently against it, AAPL just plunged back (on heavy volume) through its previous "generational low" from 11/16/12. At under $505.75 ($505.58), AAPL is at its lowest level since mid-February and is almost 30% off its highs on 9/21/12 as it appears the much poo-poo'd Death Cross may just have been on to something. WWJTD? and do not forget to ask WWDKD?



The two major selling days when the professionals decided now was the time... middle pane - huge average trade size...

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EscapeKey's picture

AAAAAARRRRGH we seem to have run out of greater fools!

icanhasbailout's picture

Greater fools grow up so fast these days, don't they?

tahoebumsmith's picture

Yes Reggie you certainly tried to warn those who were too blind to see the truth. Your best call is yet to come, EUROPE has entered the point of no return and soon almost every prediction you have made over the past few years since the first Greek bailout regarding Europe's complete collapse are going to happen in the sequence you have laid out. As you know this train wreck would have already happened if it wasn't for the 6T EU injection which has since been pillfered and squandered.

Aurora Ex Machina's picture

People bleating about guns get +100 greens, and this man gets a mere +6?

"Do not give what is holy to the dogs; nor cast your pearls before swine, lest they trample them under their feet, and turn and tear you in pieces."




Still rocking that tie, Mr. Middleton. Salute.

slaughterer's picture

Anybody know where the bottom is here?

Freddie's picture

So it is 666 divided by 2.  Satan's half life.

superbroker1's picture

Head and shoulders anyone?

hannah's picture

i dont like the shape of the head&shoulder. it is more like a hump on igor.....hump&shoulder.

Overflow-admin's picture

It looks more like a dismemberment than a SHS

kill switch's picture

Anybody know where the bottom is here?

i10 FRN's



Buckaroo Banzai's picture

1. Free up both your hands and drop them vertically to your sides

2. Turn palms facing forward

3. Squat down slightly

4. Rotate arms back 30 degrees, and then inwards 30 degrees

5. Bend elbows upwards and GRAB!

EclecticParrot's picture

Somewhere between 450 and 475 (perhaps 468 ?).  

Given the technical damage, I don't think you'll see it rocket through 600 without flushing out the nervous Nellies first, after a more serious break below 500.  

Sure, dorks buying in their IRAs could push it a little above 570 by January, but I don't think it'll be "fixed", regardless of X-mas sales, until it gets to a point where the large public funds feel comfortable initiating a longer hold, and that may require more blood-letting.  It seems Tyler's average trade size histograms could provide the required confirmation, and an (at least temporary) "all clear" signal for the final push to 765 before the Great Bernank's committee minutes crush it back to 489 (likely the inflation worries, rather than the unemployment target).

EscapeKey's picture

I doubt it. I consider AAPL to be where SUNW were around 2000. Nowhere to go but down,

Consider this:

A dual core A9 1.6GHz (granted, could be iPad's A15), with a Mali400 (again, the SGX543/554 are better, but more costly), and with a 1280x800 screen resolution (1024x768 for the iPad Mini) - all at $144.

Ridiculous bargain, compared to the iPad/Mini. It's crunch time, and Apple's margins only have one way to go.

Oh, and if you are shopping for screen resolution alone, then the Nexus 10's 2560x1600 is the one to get.

In the mobile phone space Apple lost the lead ages ago. Check out the Oppo Find 5 - a 5" 1920x1080 mobile about to be released. Personally, I like the Samsung Galaxy Note 2.

EclecticParrot's picture

Surely, you're not suggesting that stocks move up or down based on strategic fundamentals ?! :) 

When CrAAPL's weekly market cap movements exceed the entire value of our nation's public utilities, any talk of fundamental or competetive influences go out the nearest Windows (no pun intended).  

I agree its days are numbered, but believe the final crash will come only after an initial mini-dump (like a toy poodle on a bike trail), followed by institutional mania (as opposed to the hedge fund game playiing that moved it from 350 to 700) that first pushes it to a new all-time high due to its "cheap" valuation, before the reality of your wisdom (and the fraud of "Apple TV", ha !) takes hold. So, you're right, just a bit early.

The final coffin-nailer:  a revamped Zune phone/TV/personal groomer combo, running Windows 8.2, will take down the mighty fruit once and for all.

The Shootist's picture

Where's Kevin Henry when you need him. We need a big John Henry to mine that shit for the railroad or something!

pragmatic hobo's picture

it looks like the only thing keeping AAPL from dropping below $500 is the unwinding of weekly itm puts.

Flakmeister's picture

Overpriced electronics with a 6 month product cycle whose functional superiority is at best a wash and whose marginal value is purely esthetic wiil be revealed as a fad, and we know what happens to fads....

Did people really think that mass produced consumer electronics would become a Veblen good?

Mr Lennon Hendrix's picture

When you say "did people", whom are you refering to?

Flakmeister's picture

Investors that got into Apple above 500....

Hell, no matter how you cut, picking it up at 100 was a hell of investment...

Samsonov's picture

Right, it's a fashion company that sells electronics.  I was talking to a woman whose iPhone died 72 hrs. after the one-year warranty expired.  Two hours on hold with customer service when the landline phone went to dialtone, and now a trip downtown during rush hour to only one of two apple stores around.  Remind me again on why they're so great.

Id fight Gandhi's picture

WMT to be selling these iPad 4s in store for $399 with a $30 gift card.

Worms in the apple core.

Freddie's picture

I love Apple.  They are the bestest company there ever was.  Please say only nice things about them. 

gdgenius's picture

um...broke neckline at $525 this morning on a valid H&S pattern here...downside target 350...

ZerOhead's picture

Head and shoulders > next stop> knees and toes.

CCanuck's picture

+1 for the belly laugh!

And it can kiss my ass on the way to knees and toes.

CPL's picture

$20 for AAPL.

Jobs is not coming back.  The company without him isn't worth shit.  

Quinvarius's picture

460 or so is the trend imo.

EZT's picture

what do you mean by WWJTD and WWDKD


orangedrinkandchips's picture

ring-a-ding ding.....


who is it? gap! gap who?


gap....419=443 ish


RobotTrader's picture

Must be a bunch of unlucky guys taking profits after this stock has run from $100 to $500, and failed to sell at $700.

No worries, they are now dryhumping some low grade hookers like U.S. Steel, up 6% today, or some new "leaders" like ADBE, charging to world record highs on world record volume.

Always a buck to be made somwhere.

Thanks to:

1) Generational low interest rates

2) Crashing gasoline prices

3) An "Activist and Interventionist Fed"

4) Every other central bank loosening monetary policy

5) The coming "Centrally Planned Five-Year Global Economic Boom" in 2013 - 2018.

Mr Lennon Hendrix's picture

Crashing gas prices lol.

No wonder you decided you could come back.  Gas prices are lower and you were dead wrong about them for awhile.

Will you leave again if gas goes above $4 again?

Samsonov's picture

You paid $100 for AAPL?  Ha, sucker, I paid $8.25 in 2002 and cashed out at $667 this year.  Had ever penny in it too.  How do you like them AAPLs!

TruthInSunshine's picture

I paid $5 a share for 3 million shares back in 2002 and sold at the exact high on 9/21/12.

StoleYourMoney's picture

Doug Kass says new all-time generational low is in!

dobermangang's picture

Apple suppliers getting crushed today(CRUS, OVTI, SWKS, JBL, QCOM, BRCM).  They just keep on falling.  The trend is not friendly.

RobotTrader's picture

SMH down a paltry 30 cents today, hardly a "failing trend".


Gold miners?  Well, that's another story.



Mr Lennon Hendrix's picture

Miners have been getting monkey hammered for sure.  This bodes well for bullion long term though, for the less equity the miners have the less digging they will be doing. 

Also they may wish to shelf some of their PM for better times, reducing supply on the market, and jacking prices up.

That's just a theory though, we'll see if any of that happens.

Flounder's picture

$478 Billion will get you all of AAPL or ALL of IBM ($217B) and GE ($228B) and DE ($33B).


God bless the little children.

Agent P's picture

Remember when "generational" referred to lineal descendants and not Apple product releases?  Those were the days....

w00dmann's picture

I don't get it.  I don't hold this stock, but their p/e ratio is very reasonable; they generate massive profits; and this current quarter is expected to be huge.  Why does their stock price keep falling?   Truly curious.