Apple Falls

Tyler Durden's picture




 

Major misses everywhere, and this for the second quarter in a row - from the Q3 earnings report:

  • APPLE 3Q REV. $35.02B, EST. $37.25B
  • APPLE 3Q EPS $9.32, EXP. $10.37
  • APPLE 3Q NET PROFIT $8.8B
  • APPLE SEES 4Q REV. ABOUT $34B, EST. $38.01B
  • AAPLE 3Q GROSS MARGIN 42.8%, EST. 43.8%
  • APPLE SOLD 17.0 MILLION IPADS DURING QTR, UNIT EST. 15.4M
  • APPLE 3Q IPOD UNITS SOLD 6.8MLN , DOWN 10%
  • APPLE SOLD 4.0 MILLION MACS DURING QTR, UNIT EST. 4.3M
  • APPLE SOLD 6.8 MILLION IPODS IN QTR, UNIT EST. 6.6M

Third quarter in a row of total revenue declines:

More importantly, in Q3 revenues declined across every geography sequentially:

 

Is the dream over - 4 years of AAPL dividends wiped out in seconds:

However don't cry for Apple: it has $117.2 billion in cash and equvalents: a $7 billion increase in the quarter.

As a reminder, everyone is in this: Nubmer of funds owning AAPL stock

Full breakdown of the 50 most widely held HF stocks per Goldman Sachs:

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Tue, 07/24/2012 - 16:35 | 2646907 bmusic
bmusic's picture

I believe it is.  It will be interesting to see what rumors are generated tonight/tomorrow to save the ship.

Tue, 07/24/2012 - 16:39 | 2646947 Cursive
Cursive's picture

@bmusic

Rumors?  Easy.  4Q12 will be BLOCKBUSTER!  Benny's got your back!  BTFD!

Tue, 07/24/2012 - 16:40 | 2646969 veyron
veyron's picture

BTFD.  People holding out for iPhone 5, or so they say ...

 

AAPL will hit 700 when they start accepting EBT cards for iphones ...

Tue, 07/24/2012 - 16:43 | 2646985 hedgeless_horseman
hedgeless_horseman's picture

 

 

Apple missed, but doesn't close count?

 

Tue, 07/24/2012 - 16:44 | 2647005 John Law Lives
John Law Lives's picture

Funny image!

Tue, 07/24/2012 - 17:06 | 2647052 TruthInSunshine
TruthInSunshine's picture

Sir Isaac Newton, bitchez.

crabnasdapple

 

APPL is both a metaphor for and actual cog in the wheel contributing to the crumbling pillar of the unstable foundation barely supporting equity asset prices (temporarily lifted and dramatically overpriced with help from the radical, unprecedented hot beef injections of trillions in fiat by a batshit crazy fractional reserve banking insane asylum) and false hope in a broad, organic economic turnaround, bitchez. Here's a very accurate, insightful & entertaining explanation of this: JibJab

Priced for Unicorn Perfection.

It's different this time.

Buy Kayak.com unless you're Frank Reardon and banned from doing so.

(very nice work, HH)

 

 

Baby
When your wheels stop turning
And you feel let down
And it seems like troubles
Have come all around
I can hear your heart beating
I can hear that sound
But I can't help thinking
And I won't look now

And then I looked up at the sun
And I could see
Oh, the way that gravity pulls on you and me
And then I looked up at the sky
And saw the sun
And the way that gravity pushes on everyone
On everyone
On everyone

On everyone
On everyone
On everyone

Tue, 07/24/2012 - 17:39 | 2647234 Fukushima Sam
Fukushima Sam's picture

Fuck yeah, take that you central planning Apple motherfuckers!  Once again the competitors are going to eat your lunch, and this time Jobs won't be around to drum up the zombies!

Only problem is now we're going to have to hear Reggie Middleton gloating about it...

Fuck you, Apple, eat shit and die!

Disclaimer: I hate Apple

Tue, 07/24/2012 - 18:13 | 2647326 Arnold Ziffel
Arnold Ziffel's picture

Doesn't every 5 year old iKid need three iPads hanging from his belt?

Tue, 07/24/2012 - 22:50 | 2647855 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Crapple craps out. All delusions will come to an end some day.

Tue, 07/24/2012 - 23:00 | 2647878 engineertheeconomy
engineertheeconomy's picture

 Steve Jobs was a sociopath. So are people that think AAPL can go up forever

Tue, 07/24/2012 - 19:52 | 2647539 Rottenclam
Rottenclam's picture

I like Reggie's articles, but that was pretty funny...and very true.

*gives greenie*

Wed, 07/25/2012 - 00:25 | 2648058 Freddie
Freddie's picture

I like Reggie too.  He is a million times better than the liar kramer.  TV is shit and for morons.  I do like listening to Reg on RT on the web.

cr-Apple - well this was a big miss so maybe they can start channel stuffing like GM-Obama or Chrysler-Fiat-Obama.

Hey Tyler's - give us a list off all the big holders of CR-AP-ple.   Did Whitney own it?  Paulson?  Like Tylers graph shows - most hedge fund liars own CR-AP-ple.

Tue, 07/24/2012 - 23:04 | 2647888 lilimarlene1
lilimarlene1's picture

I read an analyst, a Mr. Wu, saying "I didn't take into account the Ipad's margins" or words to that effect.

And I thought "uh oh, margin compression post from Reggie incoming."

Tue, 07/24/2012 - 17:40 | 2647241 The Monkey
The Monkey's picture

IPhone 5 is coming out, but before is does, the EU may implode, ubber inexpensive models may find the market, etc.

These were weak results. The only one who can put lipstick on this pick is Uncle Ben.

Tue, 07/24/2012 - 19:55 | 2647277 The Big Ching-aso
The Big Ching-aso's picture

 

 

AAPL needs a MaxiPad to stem this bleeding when it gets heavy.

Tue, 07/24/2012 - 17:00 | 2647094 falak pema
falak pema's picture

poor William Tell's son! 

Tue, 07/24/2012 - 16:59 | 2647091 Jim in MN
Jim in MN's picture

Shades of William S. Burroughs....

Tue, 07/24/2012 - 18:40 | 2647378 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Shades of William S. Burroughs....

Apple's going down, like a big bald head, disappearing behind the boulevard...

...and Sharkey says, "hey, Robotrader, Long time no see!" He says, "hey, tard, you connect the dots, you pick up the pieces."

http://www.youtube.com/watch?v=o3euLzIBSVo

Tue, 07/24/2012 - 19:05 | 2647426 jonjon831983
jonjon831983's picture

GAME OVER??? I thought the game was to knock the apple ONTO the ground...  Ok, bring up the next guy, I think I know the rules now.

Tue, 07/24/2012 - 21:21 | 2647708 The Gooch
The Gooch's picture

"mupple"?

Tue, 07/24/2012 - 16:42 | 2646986 5880
5880's picture

What does Hilsenrath think?

Tue, 07/24/2012 - 16:43 | 2646997 HD
HD's picture

 The Fed will let him know what he thinks...

Tue, 07/24/2012 - 17:42 | 2647246 NotApplicable
NotApplicable's picture

Isn't it Dudley that diddles him like his favorite puppet?

Tue, 07/24/2012 - 18:39 | 2647376 Michael
Michael's picture

I sense a disturbance in the force.

Perhaps it's the egos of 226 hedge fund managers bashing each others brains in. That much ego exploding all at once can do a lot of damage very quickly.

Wed, 07/25/2012 - 01:32 | 2648139 The Monkey
The Monkey's picture

226 hedge fund managers will either collude to ensure there is a bid, or, tell one another that, "the price looks good, we're buying more", as they sell.

Tue, 07/24/2012 - 16:44 | 2647013 Pancho Villa
Pancho Villa's picture

NFLX and now AAPL. Robottrader, say it ain't so!

Also, EUFN is down 10.1% YTD. vs +6.41% for the S&P500. European financials have a good bit of catching up to do if they are going to be the top performing sector of 2012 as you predicted.

Tue, 07/24/2012 - 17:49 | 2647263 Taffy Lewis
Taffy Lewis's picture

I'm worried that Robottrader might jump in front of that special little bus that picks him up in the morning.

 

Tue, 07/24/2012 - 16:51 | 2647049 BLOTTO
BLOTTO's picture

Apple - the fall of man...

 

AAPL - the fall of mankind.

Tue, 07/24/2012 - 16:56 | 2647065 EscapeKey
EscapeKey's picture

Yes, the iPhone will feature 5 new pixels, and a new cup holder, and hence be really fucking innovative and ahead of the curve.

iPhone = underpowered fanboy phone with ridiculously crap multitasking, which plays catch up with leading 'droids.

Tue, 07/24/2012 - 17:13 | 2647147 geminiRX
geminiRX's picture

I am going to raise my hand shyly and say that I really like my iPhone...even though it's just a version 4.

Tue, 07/24/2012 - 17:38 | 2647235 eclectic syncretist
eclectic syncretist's picture

iphones are nice, but they've moved from being fashionable to just another electronic commodity with no reason to have a premium priced in, especially since just about everyone who wants one already has one. 

Tue, 07/24/2012 - 17:57 | 2647274 geminiRX
geminiRX's picture

I own a 5 yr old MacBook pro which i paid a cost premium over the competitors. I gotta admit that I got every penny out of the premium paid. Reliable, no antivirus requirements, no crap clogging the registry, no defragging requirements, and runs as fast as the day I bought it. I agree with zerohedge that the stock has had a good run but stock price has gotten well ahead of reality.

Tue, 07/24/2012 - 20:41 | 2647643 krispkritter
krispkritter's picture

Boy are you an Apple drone... "no antivirus requirements" Good f'in luck with that or did you miss the implementation of that in the last couple versions of OSX? Or the sweeping under the rug of all the news of the rampant infections of Macs with malware? Keep dreaming of blowing Jobs...you're the kind of iDumbass 5.0 they're hoping for...

Tue, 07/24/2012 - 22:55 | 2647867 jerry_theking_lawler
jerry_theking_lawler's picture

my niece (an igadget fan...who doesn't have a job and is in school...graduate studies at that) bought a macbook about 2 years ago...gloated about how 'robust', 'fast', 'virus-free' the macs were. got a virus and fried that bitch with all past school work, notes, tests, pictures, etc with no backup. took it to an apple store and they said it was unrecoverable. hah.

you noticed my comment: 'virus-free' the macs were.....

Wed, 07/25/2012 - 09:18 | 2648767 flapdoodle
flapdoodle's picture

Yeah, but the iPhone 5 will be a 'must have' with all the Apple fanboys as it will come with a vibrator, called the iGerbil

Tue, 07/24/2012 - 17:17 | 2647165 blunderdog
blunderdog's picture

I don't care for iPhones, but they do have the best interface.  Apple's been doing the one-button mouse thing for 30 years.  They really do have that shit down.

Tue, 07/24/2012 - 17:23 | 2647181 ebworthen
ebworthen's picture

The iPhone 5 is going to obsolesce every iPhone accessory of the past ten years with it's new connector:  http://finance.yahoo.com/news/whats-dock-apple-shrink-connector-083917831.html

If I had "invested" in the iPhone product stream this would really piss me off.

Tue, 07/24/2012 - 17:25 | 2647190 Bastiat
Bastiat's picture

But you would deserve it because Apple has been abusing its customers like that forever. 

Tue, 07/24/2012 - 23:15 | 2647912 engineertheeconomy
engineertheeconomy's picture

But it was worth every penny because he was wearing a black turtleneck shirt. Fucking losers

Tue, 07/24/2012 - 18:54 | 2647397 tamboo
tamboo's picture

they have a long history of abusing the populace with expensive connectors,

they even used to glue plastic fittings onto usb cords so they wouldnt be compatible with other usb

unless you pry off the damn plastic. takes a guy like joobs to operate like that.

Wed, 07/25/2012 - 02:47 | 2648202 BigInJapan
BigInJapan's picture

That's classic SONY right there...
Proprietary connectors...

Tue, 07/24/2012 - 17:04 | 2647115 Agent P
Agent P's picture

"AAPL will hit 700 when they start accepting EBT cards for iphones ..."

I've seen plenty of EBT cardholders with iPhones...there is very little difference between allowing iPhone purchases directly with EBT vs. giving someone EBT so they can use their cash to buy iPhones instead of groceries.

My apologies to all those on EBT who truly need it...I wish you the best and hope things turn around for you.  To those on EBT who fit the scenario above...FUCK YOU!!!

Tue, 07/24/2012 - 22:10 | 2647796 smiler03
smiler03's picture

I don't understand why "owning" an iphone is seen as something you must not own unless you're wealthy. Any idiot, rich or not, can sign up to $xx.xx per month for the priviledge of "owning" a pretty phone.

Some of us with brains can spend that relatively small amount of money on netflix. ;O)

Tue, 07/24/2012 - 23:21 | 2647932 engineertheeconomy
engineertheeconomy's picture

You're right. You don't understand.

Tue, 07/24/2012 - 16:41 | 2646978 SHEEPFUKKER
SHEEPFUKKER's picture

Gee, I wonder if Hilsenrath was privy to Apple's earnings before launching his almost daily Fed ready to act just prior to close Houdini trick. 

Tue, 07/24/2012 - 16:42 | 2646993 Squid Vicious
Squid Vicious's picture

Apple whoremonger in-chief Gene Munster already talking about lines around the block for the next I-fone ... lol

Tue, 07/24/2012 - 16:44 | 2647008 financial apoca...
financial apocalyptic contagion's picture

we did it!

Tue, 07/24/2012 - 17:51 | 2647266 stocktivity
stocktivity's picture

Stores better start their Christmas sales soon.

Tue, 07/24/2012 - 16:38 | 2646950 ihedgemyhedges
ihedgemyhedges's picture

Save the ship???? MAN THE LIFEBOATS!!!!!

Tue, 07/24/2012 - 16:40 | 2646963 homersimpson
homersimpson's picture

Tomorrow they announce the new toy called the iShit.. basically it's a shiny, metallic, and slim device that devalues the longer you hold it.

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