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AAPL Plunges Most In Six Months

Tyler Durden's picture




 

Amid the fourth heaviest volume of the year, Apple shares fell over 4% today - its largest single-day drop in six months (and largest two-day drop in 23 months) and GOOG also fell over 3%. This dragged the NASDAQ down but the S&P 500 (which was implicitly hurt by this major underperformance) managed to survive with relatively minimal damage close-to-close as the EUR repatriation drove TSY yields up and the USD down with correlations doing the rest to support stocks. Heavier volume and trade size came in as ES (the S&P 500 e-mini future) slid notably into the close though - almost 10pts off its afternoon highs and over 1% off its day-session opening levels (which were the highs). USD weakness accelerated rapidly after the European close - quite evenly distributed across all the majors but EUR weighed heavily as it retraced most of Friday's losses. The USD selling stopped around 130pm ET. The USD weakness supported some recovery from early weakness in commodities but the second largest compression in Brent-WTI in 16 months to around $15 - led by Brent more than WTI - on the Seaway reversal date being brought forward, was the biggest news in commodities. Silver ended unch and gold down modestly. Credit outperformed stocks on the day (and from open-to-close) but this seems as much credit-equity index arb as credit remains notably weaker. HYG stayed in sync with SPY today after we first noted the convergence on Friday (following the April asset allocation shift). After rallying early, Treasuries stabilized through the USD selling frenzy immediately post-European close but as the USD stabilized in the late afternoon (and AUD weakened) so Treasuries were oddly sold off (along with stocks) ending the day basically unchanged (after being lower by 4-5bps before the US open). VIX closed unchanged after opening lower and pushing to well over 20% at its worst - as 19% seemed to support it as we rallied in the afternoon. ES tested above its 50DMA once again and closed back below it on a relatively heavy day with very low average trade size.

AAPL traded back in line with the entire retail sector's market cap for the first time in a month, broke its 20DMA for the first time in four months, and fell the most in six months today. There was little sign of opportunistic dip-buyers as it leaked lower all day...

and largest 2-day drop in 23 months...

Financials outperformed as the majors recovered some of their losses from Friday but on low volumes - the US majors equity prices though remain considerably expensive relative to credit still...

Broadly speaking, credit markets outperformed open-to-close relative to stocks but remain significantly cheap (worse) and so this is not surprising. HYG remains in sync once again with the S&P but a little rich to its fair-value and the high-yield credit spread market.

Brent-WTI was the story of the day in commodity land as Brent compressed dramatically relative to WTI...

But perhaps the most notable moves of the day were in the 90 minutes after the European close when the USD was sold aggressively and EUR and GBP bought as chatter of repatriation flows was rife - which also fits the cessation of that selling once Europe had left for the day...

The EUR/AUD strength and JPY stability supported FX carry but the Treasury selling post 130ET drove correlations to support stocks as is evident here in the shift up in CONTEXT (our broad risk asset proxy) in black relative to stocks (after equities slid back to the lower reality early on risk assets in general)...

VIX opened low relative to its equity/credit fair-value but shifted higher and oscillated around ending near that fair-value around 19.6 by the close...

Charts: Bloomberg and Capital Context

 

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Mon, 04/16/2012 - 16:34 | 2349692 sexcellent
sexcellent's picture

my june puts are worth way more than my ipod right now

Mon, 04/16/2012 - 16:44 | 2349722 AnonymousAnarchist
AnonymousAnarchist's picture

They need to get some of their employees' withheld taxes like Google and Adobe (and GS) (via ICYMI).

Mon, 04/16/2012 - 17:31 | 2349856 Jack Napier
Jack Napier's picture

The Apple canary is singing its heart out in the perverbial coal mine.

Mon, 04/16/2012 - 17:47 | 2349893 12ToothAssassin
12ToothAssassin's picture

On Tuesday I told my dad he should sell his AAPL and book profit (he bought <$75) and he lectured me on how I didnt know anything about the market which is largely true. I would be much happier about top ticking AAPL to the day (nearly the hour) if it didnt directly impact my potential inheretence...

 

 

Mon, 04/16/2012 - 18:06 | 2349928 johnu1978
johnu1978's picture

Apple should have fell 40%, its shares are way overpriced!

 

-John
Edible Plant Tours - Bowmaking Classes
http://www.heartrootnatureconnection.com

Mon, 04/16/2012 - 18:07 | 2349935 Rainman
Rainman's picture

Lesson learned: Never try to talk sense to the guy who's been winning on a right way bet. They'll turn on you.

Mon, 04/16/2012 - 18:23 | 2349957 Umh
Umh's picture

Lazy; you're waiting for you Dad to die. And while you're at it your grammar and spelling sucks.

Mon, 04/16/2012 - 18:29 | 2349967 12ToothAssassin
12ToothAssassin's picture

Umh: Too true! I wrote that post hastily but Ive certainly seen much, much worse grammar and spelling so I didnt let you hurt me with your words. But dont project your psyche onto my post - nowhere does it say that Im waiting for him to die. I do quite well all by myself thanks and I actually earn a living making useful products as a wage slave to "The Man"

 

My point was top ticking a stock like AAPL was bitter sweet given the personal ramifications.

Mon, 04/16/2012 - 18:42 | 2349991 iDealMeat
iDealMeat's picture

Then monotenize your arguement and short AAPL..

Mon, 04/16/2012 - 19:07 | 2350028 12ToothAssassin
12ToothAssassin's picture

But that would mean opening a brokerage account, playing their game and perpetuating the Ponzi... Yay that sounds good!

Tue, 04/17/2012 - 01:14 | 2350617 iDealMeat
iDealMeat's picture

Then sit around and wait for a hand down from good old dad..   pussy..

Tue, 04/17/2012 - 02:11 | 2350667 12ToothAssassin
12ToothAssassin's picture

Is that all you've got?

Mon, 04/16/2012 - 16:51 | 2349758 LawsofPhysics
LawsofPhysics's picture

Yeah, talk to us in June.

Mon, 04/16/2012 - 19:08 | 2350025 MeelionDollerBogus
MeelionDollerBogus's picture

that's not the point of buying a June put on falling price... the point is to take the profits sooner than later. Perhaps you didn't know but as any put or call reaches its expiry it loses value from time decay no matter the date or underling stock if you bought it - if you were short (he's not) that's another story.

Sadly aapl time decay is so massive that I wouldn't dare touch it. Glad for those who dare it but if one doesn't take the profits inside a week I'd imagine a big loss ONLY from time decay even if the stock goes down - provided the rate is smaller than -$10/month from this level. Especially for June contract

Mon, 04/16/2012 - 19:06 | 2350027 MeelionDollerBogus
MeelionDollerBogus's picture

cash it while you can

http://flic.kr/p/bkbg9B

just sayin'

Mon, 04/16/2012 - 16:36 | 2349694 slewie the pi rat
slewie the pi rat's picture

AnDoid BiCHEz!

Mon, 04/16/2012 - 16:54 | 2349764 slewie the pi-rat
slewie the pi-rat's picture

right on time, clonie!   did you forget the letter "r"?

everything still screwed down tight

little equity melt-up at the close, too?

who coulda known?

Mon, 04/16/2012 - 17:38 | 2349869 Global Hunter
Global Hunter's picture

Wow imitation is the ultimate form of flatery I suppose.

signed GLObal humpER

Mon, 04/16/2012 - 18:29 | 2349963 slewie the pi rat
slewie the pi rat's picture

slewie needs a PROMOTION!! to CONTributor STATUS

slewie wRITEz good, no GREAT copy , did (s)he just say COPY

slewie needs visibility for its most ExceLLENT work

a hybrid of mayHEM and chEEky imo

sumsamplzzz BiCheZ!

http://investmentwatchblog.com/long-us-gold-silver-coins-or-you-are-abso...

http://investmentwatchblog.com/heres-some-more-slewie-news-from-libya/

Mon, 04/16/2012 - 21:42 | 2350294 slewie the pi-rat
slewie the pi-rat's picture

tyler publishes all my stuff already

yours, too!

THE END

Mon, 04/16/2012 - 20:59 | 2350220 slewie the pi-rat
slewie the pi-rat's picture

clonie is a spook

can you believe this shit?

Mon, 04/16/2012 - 21:31 | 2350271 Likstane
Likstane's picture

Amazing! what the hell did you do to this pissbag?  You must have given him the "I'm looking for a good place to invest in gold"  troll treatment.  He got pissed off and now studies your writing and commentary style.  What a major-league douche-bag. 

Who knew Slewie the pi rat would have such a low tolerance for criticism? 

Mon, 04/16/2012 - 22:00 | 2350323 slewie the pi-rat
slewie the pi-rat's picture

i pissed off bilary

this is my fuking reward!

Mon, 04/16/2012 - 16:38 | 2349702 Lost Wages
Lost Wages's picture

I should have gotten in on this sweet, sweet action, but then I'd have to start a trading account.

Mon, 04/16/2012 - 17:01 | 2349766 ebworthen
ebworthen's picture

"It's not too late! 

Get your (chips) shares from the (casino) market (cashier window) online broker today!

We have the (loosest slots) best equity funds in (Las Vegas) the World!

Nobody beats the (Las Vegas Sands) NYSE at providing value for your (playdough) dollar!

Go on!  Try some (Roulette) Put/Call spreads , some (Craps) Financials, some (Blackjack) an ETF, or some (Pai-Gow) SINO!

Get started (gambling) trading today!

It's the American (nightmare) dream!"

p.s. - "Strikethrough" not working, but you know what I mean.

Mon, 04/16/2012 - 18:24 | 2349958 Umh
Umh's picture

Dreaming is so much easier than doing.

Mon, 04/16/2012 - 16:36 | 2349707 Hulk
Hulk's picture

B,S&T Bitchez!!!  What goes up, must come down. It was foreseen 40 years ago...

http://www.youtube.com/watch?v=u4iNw1Hvcu8

Mon, 04/16/2012 - 19:34 | 2350075 Goldilocks
Goldilocks's picture

Aerosmith - Love In An Elevator
http://www.youtube.com/watch?v=h3Yrhv33Zb8 (5:43)

Mon, 04/16/2012 - 22:25 | 2350367 slewie the pi-rat
slewie the pi-rat's picture

sopranos: remember when that kid shot the arrow straight up and it landed on his head?

Tony Soprano: These fuckin' women, they'll drive you nuts with their emotions and whatnot. And I know it feels like you're never gonna love anybody again. But trust me, there's millions of girls that are dyin' to meet a guy like you. I see 'em every day.
Anthony Soprano, Jr.: Oh, right. I'm so special.
Tony Soprano: You're damn right you are. You're handsome, and smart, and hard worker, and - let's be honest - white. That's a huge plus nowadays... Go out and get a blowjob.
Anthony Soprano, Jr.: I don't want a blowjob!
Tony Soprano: Keep your voice down.
Anthony Soprano, Jr.: Why? Who's listening out there?
Tony Soprano: Nobody.
[Carmela opens the door]
Anthony Soprano, Jr.: Ah, fuck me!

Mon, 04/16/2012 - 16:38 | 2349708 q99x2
q99x2's picture

Rotten Apple

Mon, 04/16/2012 - 16:37 | 2349711 francis_sawyer
francis_sawyer's picture

"Newton's Law"

Mon, 04/16/2012 - 18:38 | 2349984 Zero Govt
Zero Govt's picture

cheap shot q99

..you willing to short Apple based on your assesment?

Mon, 04/16/2012 - 16:39 | 2349715 midgetrannyporn
midgetrannyporn's picture

Chinee labor make crAAPL all day long, assho assho.

Mon, 04/16/2012 - 16:40 | 2349724 francis_sawyer
francis_sawyer's picture

Jump you fuckers!

Mon, 04/16/2012 - 16:39 | 2349716 SheepDog-One
SheepDog-One's picture

Seriously....if people were buying this crap at $640+ a share, they deserve to get raped.

Mon, 04/16/2012 - 16:52 | 2349761 Smiddywesson
Smiddywesson's picture

LOL SheepyD, it is most gratifying.  Years of preaching that we just don't get it, that Apple is different than any other company that ever existed before, are about to be revealed as just so much, well, sheep dip.  I especially liked the white motif, like adopting the stormtrooper armor from the Lucas films was ultra hip.  

Mon, 04/16/2012 - 19:18 | 2350048 SheepDog-One
SheepDog-One's picture

Just so tired of the latest 'all the rage boutique stock' of the moment....sheesh!

Mon, 04/16/2012 - 18:06 | 2349931 Al Huxley
Al Huxley's picture

Even worse, as pointed out in a different article last week, the trend was away from buying $600+ shares, and into buying CALL OPTIONS - expensive ones at that.  Shares might recover, options, not so much.

Mon, 04/16/2012 - 18:56 | 2350004 Bill D. Cat
Bill D. Cat's picture

Thursday is D-day , interesting two days ahead  For the record , 10 @  .90 April 500 puts .

Mon, 04/16/2012 - 19:18 | 2350049 SheepDog-One
SheepDog-One's picture

No doubt the calls wont recover, and they were REAL pricey!

Mon, 04/16/2012 - 16:38 | 2349717 penexpers
penexpers's picture

But their next iPhone device will have a CURVY outside design...

Buy their stock immediately...

Mon, 04/16/2012 - 16:39 | 2349721 Lost Wages
Lost Wages's picture

Buy the fucking dips? LOL.

Mon, 04/16/2012 - 16:41 | 2349735 kalasend
kalasend's picture

No kidding, but this is the unanimous sentiment in my office today. Sheeple do what they do best.

Mon, 04/16/2012 - 16:41 | 2349728 ebworthen
ebworthen's picture

Shock and disbelief at the pension funds who bought heavy on Friday because AAPL was a "sure thing".

Mon, 04/16/2012 - 20:53 | 2350207 UP Forester
UP Forester's picture

I don't care.  I'll gladly trade any "future financial security" for the chance to start over in a spankin' new, non-ponzi, non-debt based, non-collateralized, non-hyper-rehypothecated monetary system based on sound, honest money.

And I'll gladly walk through the fire to get there.

"May you live in interesting times...."

Mon, 04/16/2012 - 16:41 | 2349734 IMA5U
IMA5U's picture

With crApple rolling over Mom & Pop are now getting worried about the stock market.

 

ObamaNation better goose the market higher if he Hopes to continue his Kommunist Change.

Mon, 04/16/2012 - 16:47 | 2349745 Bam_Man
Bam_Man's picture

Mom & Pop are long gone and want nothing to do with the stock market - and that goes double for stocks that cost $580 a share.

This action in AAPL is nothing but HFT algos and hedge funds pushing each other around.

Mon, 04/16/2012 - 16:48 | 2349751 slaughterer
slaughterer's picture

Look at the correlation between GOOG, PCLN and AAPL today.   Must be the same computer trading all three. 

Mon, 04/16/2012 - 20:53 | 2350210 UP Forester
UP Forester's picture

Hmmm. Computers trading tech stocks.  Makes sense.

SkyNet is now aware....

Mon, 04/16/2012 - 16:55 | 2349768 Smiddywesson
Smiddywesson's picture

Mom & Pop are long gone and want nothing to do with the stock market - and that goes double for stocks that cost $580 a share.

Thank God someone gets it.  I for one am happy to hold derivatives and never buy another share of stock again as long as I live.  Let some other fool buy Jack Welch's golden parachute.  I'm gone forever.

Mon, 04/16/2012 - 19:19 | 2350054 SheepDog-One
SheepDog-One's picture

Thats really true, stocks are about the DUMBEST thing anyone could ever 'invest' in.

Mon, 04/16/2012 - 16:55 | 2349771 God Bless The V...
God Bless The Virtuous's picture

Spot on Bam _Man,

                             The retail investor is not buying into this ponzi scheme off the 2009 lows.

Apple is going to be the tell for the summer of insurrection to come. The O.W.S. anarchists are going to be out there in the streets causing chaos and Obummer will be playing the race card with Holder praising Jesse and Al Sharpton while Compton burns and the devil(Van Jones) laughs with delight the day the music dies! Apple and the mo-mo stocks are going to correct into the waterfall as the bubble tv talking heads keep yelling, "Keep Calm, it's just a minor correction" all the way down!

Get short and keep tight stops on the way down, anything could happen, but when you see Apple, Google and Priceline all down big in one day, something wicked this way comes...

Jerry

Mon, 04/16/2012 - 16:45 | 2349746 CaptainTripps
CaptainTripps's picture

the generals are always shot Last 

 

the action is very bullish AS THE momo is cut down and the overall sp500 holds up and new names are pushed up

 

soon apple will likely bottom as its the strongest of the momo players to have already fallen

 

pcln, cmg? see em 100 bucks lower

 

Mon, 04/16/2012 - 17:00 | 2349790 Smiddywesson
Smiddywesson's picture

Yup.  It' aint over when the rock stars fail.  New rock stars will be pushed forward to carry on the bull market if money is still available.

The markets move on borrowed money.  If the money is there, gamblers will do what gamblers do and push the market higher.  This was the case 100 years ago, and this is the case today.  The people with the throttle in their hands can't apply the brakes, so the markets will continue to go move higher on rotten ice.

 

Mon, 04/16/2012 - 19:03 | 2350018 CaptainTripps
CaptainTripps's picture

yes you are right as i am

 

but its true...the last to fall ARE the generals..always happens that way

 

 

we should see fertilziers getting a bid soon to confirm sp500 will be bottoming soon as well

lo and behold, both mos and pot green/flat today

Mon, 04/16/2012 - 20:56 | 2350213 UP Forester
UP Forester's picture

Stalin didn't think generals should be the last to fall....

Mon, 04/16/2012 - 16:46 | 2349747 max2205
max2205's picture

Token drop on txn addition. And rotation. Move along. You thought the market would crater when AAPL corrected but these crazy motherfuckers got you again. Move along now

Mon, 04/16/2012 - 16:48 | 2349755 slaughterer
slaughterer's picture

Support for AAPL is 579.07.

Mon, 04/16/2012 - 16:58 | 2349773 jcaz
jcaz's picture

Nice- that will come in handy with the stuff you paid $585 for today...

Trying to call support (or resistance) on AAPL is as futile as.....  Catching a falling knife......

BUWHAHAHHAHHAHAH!!!!!!!!!!!!!!!

Mon, 04/16/2012 - 17:00 | 2349787 slaughterer
slaughterer's picture

I got stopped out at $592 with a 7 point profit. 

Mon, 04/16/2012 - 17:39 | 2349864 jcaz
jcaz's picture

Of course you did, sweetie, you're a day trader!   BTW, you don't get "stopped out" when you hit your price on the way UP, unless you placed that magical "stop profit" order, lol

Now, for a REAL LIFE trade,  taste my April 595/555 put spread that I've been sitting on for a week-  I'll leg that long 595 put into 525 before the week is over as this pig runs down to $550.....

Hope I don't get "stopped out" tho......

BUWHAHAHAHAHAHAHAHAHH!!!!!!!!!!!

Mon, 04/16/2012 - 16:50 | 2349757 Barometer
Barometer's picture

Smash them

Mon, 04/16/2012 - 16:51 | 2349760 penexpers
penexpers's picture

That's how the story of Apple was written, DUMB DUMB DUMB DUMB DUMBBBBBBB!!!

Mon, 04/16/2012 - 17:47 | 2349772 Dr. Engali
Dr. Engali's picture

Raymond James just came out with their latest stock pump.They came out with a strong buy on apple with a price target of $800. The pumping is getting desperate.

Mon, 04/16/2012 - 17:01 | 2349786 I am a Man I am...
I am a Man I am Forty's picture

I would add to a position from here down.  10% pullback normal market action, could go down more.  I'm not sure why people think buying the dip on a great company is a dumb idea.  If you did this at $100 in 2009 you would be up 500% plus.  If anyone on here thinks that apple is not going to continue to grow you are out of touch with technology and human psychology/behavior.

Be the ball.

Mon, 04/16/2012 - 17:19 | 2349821 Smiddywesson
Smiddywesson's picture

Whether it continues depends upon Ben Bernanke printing, so maybe you are right it will continue to climb in price.  But then again, Ben Bernanke doesn't give a damn about Apple so the easy money might come too late for your "great company."

Your argument assumes this is a market.  LOL

Mon, 04/16/2012 - 20:21 | 2350160 lotsoffun
lotsoffun's picture

what did that sweet old humanitarian warren buffett buy last 6 months?  apple and ibm and intc?  why?  they are big components of dow and s&p and nasdaq.  time to pump the markets.  (appl not in dow).  at some point, he cash out?  or does he?

 

Mon, 04/16/2012 - 17:39 | 2349876 jcaz
jcaz's picture

That's just precious....

Mon, 04/16/2012 - 17:47 | 2349897 I am a Man I am...
I am a Man I am Forty's picture

time will tell who is correct, so far it has been me

Mon, 04/16/2012 - 19:21 | 2350055 SheepDog-One
SheepDog-One's picture

LOL another degenerate gambler.

Mon, 04/16/2012 - 17:08 | 2349792 mogul rider
mogul rider's picture

The good news is

 

The AAPL pumpers are now in the gold and silver miner house cleaning out the dead longs as they are carted out of the house on life support as they spent their inheritance of scam mining company and will be pumping the shit out of those soon.

Soon the AAPL rape victims will dump their AAPL at 140 and rush into Scam Mining corporation at 90 bucks so that AAPL pumpers can exit nicely as Sinclair swears they are going to 4500........

Get your miners while you can.

I certainly know where al the goddamned volume is. The juniors that normally trade 20K shares a day are trading 400K. The longs have been immolated and are running to buy AAPL on the 500 dollar Cramer dip soon to catch a falling knife between the legs.

 

Oh well just another day in paradise.

Mon, 04/16/2012 - 18:18 | 2349949 Al Huxley
Al Huxley's picture

Maybe not just yet, but eventually, yes.  Probably some of it happening right now, but consensus is still irrationally negative on the miners, and AAPL probably has at least one bounce in it to hook the 'buy the dip' crowd.

Mon, 04/16/2012 - 17:10 | 2349805 ThisIsBob
ThisIsBob's picture

There's a rumour at large - something about half a worm...

Mon, 04/16/2012 - 17:24 | 2349841 slewie the pi-rat
slewie the pi-rat's picture

probably another of lorraineB's johnWayne fanta-cz

Mon, 04/16/2012 - 17:31 | 2349858 NewThor
NewThor's picture

To offset this horrible American news,

I will continue to spend my day in bed with a beautiful woman,

reading Zerohedge during the 'down' times.

God bless everyone.

Mon, 04/16/2012 - 18:57 | 2350003 Widowmaker
Widowmaker's picture

Hopefully Keith feels the same way.

Mon, 04/16/2012 - 19:11 | 2350034 NewThor
NewThor's picture

Whoa. All the pretty talking head kids on Bloomberg West

tried to talk up their book and looking very sad.

Me thinks they B heavy AAPL,

right Bruce Wayne?

SS GSA -election seazon bitchez!

 

 

Mon, 04/16/2012 - 17:50 | 2349903 Keith Piccirillo
Keith Piccirillo's picture

Green apples are much healthier than red apples.

Mon, 04/16/2012 - 18:07 | 2349930 Conman
Conman's picture

Awww i had my Dow 13k hat ready, sooo close.

Mon, 04/16/2012 - 19:23 | 2350059 NewThor
NewThor's picture

If it's made of tin foil, it's still worth something.

SOLAR MAXIMUM BITCHEZ~!

Mon, 04/16/2012 - 18:24 | 2349962 EuroSovietSerf
EuroSovietSerf's picture

I refuse to believe this. Because as all people who listen to main stream media news know: it can NEVER go down. So this surely must be grounds for a RALLY! BUY BUY BUY!

Mon, 04/16/2012 - 18:42 | 2349990 Belarusian Bull
Belarusian Bull's picture

I like Ipads touch sound.

Mon, 04/16/2012 - 18:48 | 2349997 ZDRuX
ZDRuX's picture

Apple has had MANY much larger corrections in its past, I don't know why everybody is suddenly coming out of the woodwork as if they know the top has been reached.

Practice some humility and learn from the past. And the past will teach you that we're not always as smart as we think and predicting price movements or trying to time tops and bottoms is oh-so-ever elusive.

Mon, 04/16/2012 - 18:58 | 2350007 Widowmaker
Widowmaker's picture

AAPL is a hold, they report in a week, could be some news in it.

Sell anything over $625, same as it ever was.

Mon, 04/16/2012 - 19:03 | 2350020 CaptainTripps
CaptainTripps's picture

apple is now about 10% off highs...and everyone is a permabear...that means buy

 

technically, it was the worst point loss for apple, ever today

 

dont know about you, but i feel comfortable going LONG into headlines and trading like that into this STOCK 

Mon, 04/16/2012 - 19:23 | 2350057 SheepDog-One
SheepDog-One's picture

Well, have fun....no ones stopping you.

Mon, 04/16/2012 - 19:49 | 2350109 eurusdog
eurusdog's picture

All you have to do is look at AAPL's new patent applications and see they might be the tech equivalent to a one hit wonder...well three hits. One thing a tech company must do to keep up is innovate and they are no longer innovating. http://easyfxtrades.com/

Mon, 04/16/2012 - 20:11 | 2350117 razorthin
razorthin's picture

Serves them right for thieving the people with unauthorized credit card charges for iTunes.  Just got hacked and clipped $20 the other day.  I don't even own an Apple product.  And now I never will.

Something's up.  I wonder if it has something to do with this.  The internet message boards are ablaze with reports about this scam.  Not a peep from the MSM.

Mon, 04/16/2012 - 20:29 | 2350168 adr
adr's picture

So the price of a share of AAPL has nothing to do with revenue, profit, cash held, sales of iPads or iPhones.

Apple stock is nothing more than a foreign bank account for Eurobanks to hold cash. The rise in Apple was nothing more than a reverse bank run. Everyone in the hedge fund bankster realm rushed to put money in AAPL for safe keeping.

Same with the other momo retard stocks like Priceline, CMG, and Autozone. Board members were all too happy to cash out shares at the elevated prices while the banks were rushing to safeguard capital.

One or more Euro banks must be within a hair's width of collapse, emptying out the safe.

Wow the stock market is now nothing more than a safe deposit box. When everyone tries to withdraw instead of deposit, that's where you have problems.

Mon, 04/16/2012 - 23:30 | 2350465 jack stephan
jack stephan's picture

Batonga, Batonga, Batongahhh!!

Tue, 04/17/2012 - 00:04 | 2350504 Dre4dwolf
Dre4dwolf's picture

It has to hit 400 ish.

The only reason it went up that high was because too many idiots got plunked into it by their financial managers.... who are taking bets against their own clients positions.

That and people thought if it as a safe place to sock away cash for a short while.... you can just look at the chart and its obvious that it was in a bubble....

Tue, 04/17/2012 - 00:25 | 2350553 OC Money Man
OC Money Man's picture

The new I-Pad is 116 degrees.  This is not a problem in the winter, but will be shock in the summer.  This high temperature IS NOT HEALTHY FOR DIRECT CONTACT ON HUMAN SKIN.  How do you think women are going to respond to this.

 

Tue, 04/17/2012 - 02:05 | 2350660 Freddie
Freddie's picture

Are you serious?  Does the iPad do double duty as a waffle iron?  I love those waffles with strawberries and cream.   It is how Nike made their first sneakers too.

Tue, 04/17/2012 - 09:12 | 2351055 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

Apple products are for trendy iDiots.  They cost more & do less.  I like to be able to customize my computer.  Apple users I know seem like people who wouldn't mind living in the old East Germany. Computers for the sheep who'd trade fake security for freedom.

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