Nasdaq Plunges As AAPL Suffers Triple Whammy

Tyler Durden's picture

Weak reviews for iPhone 8, dismal pre-orders, and connectivity issues for Apple Watch have slammed AAPL shares to their lowest since August 1st earnings.

As Bloomberg notes, in addition to connectivity issues with the new watch, part of today's weakness in Apple  shares could be related to negative comments at Rosenblatt due to weak iPhone 8 preorders.

Analyst Jun Zhang said their research suggests that iPhone 8 preorders are substantially lower than iPhone 7 and iPhone 6 levels.

"We understand many customers could be waiting for the iPhone X, but we are concerned iPhone 8/8 Plus sell-through could bring some headwinds."

It has not been pretty as AAPL is now at its lowest since before its earnings spike on Aug 1st.

This has pushed the Nasdaq dramatically lower...

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Soul Glow's picture

When you have all of your aaples in one basket.....the aaple doesn't fall far from the tree.....Newton's aaple....and so on.

World Cash Day's picture

Who needs a new smartphone? iphone 7 is great, and the only thing guaranteed with a new phone is that it's spying capabilities are even more improved than the existing phones!

Facial recognition unlocking capabilities are positively scary - and not wanted!

spastic_colon's picture

+1

my iphone SE still works fine.....with electrical tape over the fingerprint button.

Buckaroo Banzai's picture

This is what happens when you put a faggot in charge of something. Tim Cook is doing to shareholders and customers exactly the same thing he does in his bedroom every night to some 15-year-old boy: anally rape them.

CheapBastard's picture

You guys must be Big Spenders. Don't brag.

Who has money for a phone? If someone wants to speak to me they can stop by and talk face to face or send me a letter thru USPS.

Creepy_Azz_Crackaah's picture

The new phones are made more powerful in order to host more intrusive bloatware/spyware by The Google/Apple/et al. There is no reason to have such powerful, multi-core, CPUs for a calendar/phone/camera.

The new phone power is about data gathering (on you) and marketing.

YUNOSELL's picture

I'm completely convinced the major improvements made on the iPhone 8 will benefit Apple a thousand times more than they will benefit the customer who purcahsed

Slomotrainwreck's picture

AAPL soon to change their cusip to AADAQ

John Kerry-Heinz's picture

You can use a Baofeng UV-5R two way radio or similar to communicate within a 5 mile or so radius, for those who count.  Sure the neighbors with a scanner in that area may tune in, but at least the all recording vacuum in the nationwide communications network ain't privy to the conversation for Algorithmic data mining\flagging by utilizing keywords and specific phrases. 

If anyone has any knowledge of the .dot gov monitoring and recording two way communications in specific areas.  Please let us hear about it, education is good thing.\

And one more thing, fuk those Idiot phones.

Cheers!

Shitonya Serfs's picture

I don't think Plunge means what you think it means.

spastic_colon's picture

they are working overtime to keep the DOW green...................

ZoroAustrian's picture

'dramatically lower' ... ha, good one ZH.  Constant hyperbole doesn't bolster argument validity.

Soul Glow's picture

You don't think 3% in a few hours for the biggest company on earth is dramitcally lower????  Talk about hyperbole.....

ZoroAustrian's picture

Nasdaq dramatically lower, not AAPL

Soul Glow's picture

WTF do you want the headline to read?  Why do you care what words are used?  Does your personallity fit with the term "sensitive" or "snowflake"?

Also this is about pattern recognition.  If you don't find it interesting that aapl just plunged 3% on no news what are you doing reading the financial posts?

ZoroAustrian's picture

nah, I don't really care that much, and I think most of the readership here believes it should 'plunge' and be 'dramatically lower' and that a crash will one day come (I certainly believe that), but it's not here yet, it's been a long time waiting, we all know why.

In the meantime, constant use of that type of language makes ZH, and us loyal readers, look a little delusional

jin187's picture

In the real world, Apple's stock price would be based solely on net profits. However, this is the Wall St. fantasy land, where someone shouts "OH NO THE SKY IS FALLING SELL SELL SELLLLLL!!!", and the price drops 3% for little or no tangible reason.

So when the price drops, Warren Buffett buys it, then sells it back to the same idiot that thought the sky was falling a week later for the new record high price. A month from now, no one will remember this happened, that same idiot will panic sell again after seeing articles like this one, Buffett buys it again. Rinse and repeat.

Mr Hankey's picture

Nobody's gonna believe it when something big actually crashes & burns,as in, never getting back up.No restructuring,  no bailouts.No fiat printing.

Blue Dog's picture

Apple isn't the biggest company on earth. The overpriced stock market doesn't show their real value. They make toys. Their phones aren't as good as the ones made by Samsung. One of Apple's big announcements is that you can send a turd emoji to someone. Wow. How incredibly awesome.

GunnerySgtHartman's picture

Down 0.5% is a plunge?

Mmmmmmmmmmmmk ... NEXT

Soul Glow's picture

It's a straight line down.  If you want a different word go ahead and start writing some headlines.  Start your own blog.  And get the fuck out of here with your arm chair QBing.

GunnerySgtHartman's picture

What armchair QB'ing am I doing?  Did I say it would go up and then it went down?  NOPE

Do you consider an 0.5% decline a "plunge"?  Maybe if your last name is Gartman ...

Soul Glow's picture

Having some random reader I've never seen try to edit this website is like being at a football game and hearing a fan in the stands yell, "Throw the ball" when the coach is trying to establish the running game.  Your voice doesn't matter, it's just annoying to hear you blabbering about shit you have no idea how to do.

GunnerySgtHartman's picture

Your voice doesn't matter, it's just annoying to hear you blabbering about shit you have no idea how to do.

And I suppose your voice matters more than anyone else's voice.  Aren't you special?  LMAO, unlike you I'm not telling ANYONE what to do.

As for being "some random reader you've never seen," I'm not a Johnny-come-lately to ZH.  Maybe you should be reading a little more closely.

Yukon Cornholius's picture

When the SNB & PPT come to save the day you're both going to look like assholes. Cheer up. It's hump day.

Soul Glow's picture

 I'm not telling ANYONE what to do.

Uhm, you're telling Tyler what to do.....

yogibear's picture

Hardly. 

NY Fed president, William Dudley will turn it green soon.

The central banksters won't allow failure to any of the too big to fail. 

Squid Viscous's picture

but... but...the Iphone 8 is the most awesomest phone ever, and Tim Cock is a genius!

Overleveraged_and_Impatient's picture

Folks we have seen this episode many, many times. Until AAPL has a sustained drop of 20% plus then we already know that the SNB will use this opportunity (not dip, opportunity) to purchase more shares and bring the price up the NEW all time highs. All this means is that dumb normal people are getting out of their shares and the world Central Banks are getting INTO the shares.

There is not going to be any sustained drop in equities as long as they are measured in currencies like the Dollar, Pound, Euro and Yen which can be created at a moments notice. I will admit, if world Equities were measured in BTC they could definitely see some sustained down periods. But this is not the case.

Moreover, what exactly would cause a sustained 'crash' anyway? There is nothing. We can recover from Venezuelan default, NK strike (which would not happen), any natural disaster, slow sales. With money printing nothing can change.

Traderone's picture

Keep doing what you are doing Fella and we'll see each other at ES 3000 for some champagne and caviar.

WillyGroper's picture

"With money printing nothing can change."

seen the size of a box of cereal lately?

when the price has gone up X10 & the width of the box is the size of a pencil, lets talk.

Haitian Snackout's picture

Actually I skip that aisle,  But I wouldn't doubt it a bit. 

WillyGroper's picture

i do too.

gobsmacked when i saw it at checkout.

Blue Dog's picture

Money printing won't work forever. Not with the rest of the world working frantically to de-dollarize their economies. China now has oil futures contracts payable in yuan. Oil sellers can take the yuan and buy gold on the Shanghai Gold Exchange. It's only a matter of time before other countries--oil producers as well as oil buyers--want the same deal. Then it will spread throughout world trade. We're going to have hyperinflation in less than a year as the rest of the world dumps its dollars.

Kefeer's picture

Yep - the current profitable scheme continues until the new Titanic is set to sail at the bankers delight.  The current Titanic is slowly sinking, but the new and shiny one is not yet competed - so maintain course and buy the dips.

I do wonder if they want to sink the current ship at the beginning of 2018 for the mid-term election cycle or to wait till 2020 and the Presidential cycle?  Any thoughts about that?

lester1's picture

Here's what the headline should say..

 

"NASDAQ plunges as the Federal Reserve's PPT takes the day off covertly buying stocks."

Soul Glow's picture

It's nice to see everyone thinking they can write better than Tyler.  First off, they had that headline as 

"Fed's Asset Bubbles Now At The Mercy Of The Rest Of The World's Central Bankers"

Maybe read that one before you start blowing steam.  Another tip - if you want to see the change you believe in start a blog.  Maybe you'll get a reader or two.

Overleveraged_and_Impatient's picture

Umm what makes you think they are off today? We still have 2.5 hrs til Yellens speech. S&P will close at 2512.

nomad943's picture

There was a day when headlines like this made me look butbthey are gone. The dow is up and the nasdaq is off 5. Plunges?

gregga777's picture

The Swiss National Bank hedge fund will just print up more Swiss Frank monopoly toilet paper and buy MOAR Apple stock. Even if Apple stawks plunge it's still all 100% profit. How could they lose with a deal like that?

HominyTwin's picture

Exactly. For some unknown reason, they need to make sure the Swiss Franc is only slightly more valuable than the dollar, so rather than capital controls, they print more Francs out of thin air and buy Apple!

Sky flyer's picture

Hold the Dow boys, hold the Dow!! All green so far. God forbid we have a red fucking close. Only a massive nuclear exchange can bring the Dow down significantly now. Seriously.

TheSilentMajority's picture

Very little "buzz" about the new apple phones this year. Reviews have been relatively awful.

No significant new features or benefits. Just some minor gimicky also-ran enhancements. Certainly nothing new that is worth upgrading for.

The sheep are getting smarter and are weary of playing the upgrade con that apple is trying to sell each year.

A big dud for cookie.

Last of the Middle Class's picture

PPT will always cover the FANGS. You can bank on it. A dip to higher prices, maybe. I phone 8? I mean they put some new shiny shit on the side of it for $1000. What the hell do you want?

allamerican's picture

appl shorts congrats..

Albertarocks's picture

"THE NASDAQ HAS CRASHED"

It's down nearly a half a percent!!  As far as I know a crash of this magnitude has never happened in the history of the stock markets this year.

jin187's picture

Sounds like time to cash in all my dividend paying stocks, before the resale value goes down a full percent.