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Apple Falls
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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Considering how long Apple has been known to sandbag re. future EPS estimates, this is alarming.
Ouch!!!
@John Law Lives
Exactly. They are suppossed to blow through the estimates. This was bad.
Looks like the worm has turned the wrong way for them...and consumers who are strapped for cash.
Quick, where's RobotTrader?
In the dumpster behind McDonalds looking for a dirty old half eaten cheeseburger.
today on bloomberg,
some so-called "strategist" a chinese guy from SF said that AAPL will go to $780 !!! LOL !!!!! ROFLMAO !!!! after hours @ $576...LOL !!!!!!!!!!!!!!!!!!!!!!
anyways i covered my SHORTS (spx avg price 1370) TODAY @ 1332..it dropped to 1329...closed @ 1338....
IF drops to 1320 tomorrow = BUILD long positions
IF pumped and pumped to 1360 = will build SHORTS and ride to 1100 baby !!!
LOL !! all the way to the bank...NOW = 100% cash !!!
chinese guy on bloomberg NOW (john chew?)
he's trying to find an excuse for his "WONDERFUL CALL" ....earlier he said aapl to $780 LOL !!!!!
ROFLMAO !!!!!!!!!!!!!!!!!! LOL !!!!!!!!!!!!!!!!!!!!! ROFLMAO !!!!!!!!!!!!!!!!! LOL !!!!!!!!
too funny !!
those that have thumbed me down: do u fell better now?? your WORTHELSS calls (options) are WORTHLESS !!! LOL !!!!!!!!!!!!!!!
A million funds screamed out at once....then fell silent.
I don't get it, the charts say its there, but no Nasdapple.
I felt a great disturbance in the farce.
Obi-Wan Bernanke, you're our only hope. Obi-Wan Bernanke, you're our only hope. Obi-Wan Bernanke, you're our only hope. Obi-Wan Bernanke, you're...................
Nice one "SheepDog-One"... Got a good GIGGLE on that ONE!
And a ZH tweet. Well played, sir.
but but. cnbs said it was going to 1000 !!! How could this be?
Consumer is tapped out. Temp and burger flipping jobs don't cut it anymore. This is one of the largest economic signals one could have.
yep. what he said.
AAPL fucked up. Throw the bums out.
I'm a contrarian indicator. I just bought my first, used, AAPL Macbook Pro to learn and practice C.
Move on to Java. It's OOP, a better way to roll.
Gold bitchez!
Step 3 complete...on to step 6!!!
Irecession
Maybe people are realizing that if you don't update your iCrap, they stay as fast as the day you bought 'em.
Planned obsolescence anyone?
BS. While watching CNBC with friends a while back (bet you don't know of anyone else who can or would claim that), I heard that apple was going to $1000 a share, so it must be true. Cramer also said Facebook was a great investment too, so cash in that gold and go long these techs....
</sarcasm>
CRANK-A-HOLIC = cramer from cnbc
some of his "best" calls
1) silver @ $45 = he says buy
2) gold @ 1800 (vet day, 2011) he says buy = me short
3) aapl @ $629 says: "$1000 makes arithmetic sense" = me SHORT
4) NFLX @ $300, he says buy = me short !!!
i don't listen to him anymore, he's too loud, can't stand him !!! i have plenty of OTHER SHOE SHINE BOYS (cbs-mw "reporters")
Cramer's picks- Apple, Chipotle, Joy Global, Facebook ........never mind you just went broke
What, you don't enjoy his spittle-flecked, coke-induced rants?
At least he is perfect with his compass heading straight to south...
Regggggggggggggggiiiiiiiiiiiiiiiiiiieeeeeeeeeeeeeeeeeeeee!
lol good one +1
.... he busy running victory lap .... :-P
GS to go ?
Momentum is a bitch.
S&P Futures already down 1.5%. There going to need bigger rumors tomorrow to salvage the day.
Look for a nice Euro or China save .
hmmm ... I don't think so ... they might try a rumor, but they half life on those has gotten REALLY short as of late ...
Wot? Something like an earthquake swallowed Greece and Spain whole?
50DMA just taken out; 200 tomorrow.
Like my grandma used to say.... eat too many apples, and you'll shit the bed!
Apple still "sold" a ton of product sitting on store shelves. One wonders what the number would have been without the channel stuffing and forward booked profits.
Netflix took another dive, Chipotle crapped out, what momo is next? I guess the true fall will be Facebook's earnings.
Under Armour will fall hard next quarter, this quarter was saved by channel stuffing every sports retailer with crappy shoes consumers avaoided like the plague. I guess Ed Stack and the other boys loaded up on Under Armour stock earlier this year for a quick double pump. $26-$52 on bullshit.
New 7" iPad and iPhone5 rumors all day tomorrow. The Nasdapple must be saved at all cost. The other question is who in the know switched to short positions above $600 in the past week?
4 million Mac's sold worldwide? I see that as total crap.
BWLD with a big miss today as well
You forgot Amazon and Linkedin.
Linkedin is my #1 overpriced stock (used to be CMG).
Amazon is a great company, but overvalued stock highly susceptible to margin crunches (and now govt involvement/internet taxes).
Also, Apple will likely have a big upcoming quarter if they release the Iphone 5. But, maybe not? At some point people will get sick of the iterations of the same product. Whoever is holding the bag at that point is screwed.
Apple's now playing tech catchup on their phone.
Guess their iRun2hot gadgets may get recalled afterall?
Its funny I just bought an ipad over the weekend for my 3 year old. I am like the kiss of death.
Open up an account at BoA tomorrow, could ya?
hope you bought Applecare and stashed another $500. Should have bought a Playbook instead. You can run them over with a truck and they still work.
Of course your kid would probably get kicked out of preschool for not having an iPad.
I actually got a Griffin military rated extreme case for it. You could throw it a tank and it wont shatter.
The tank or the ipad?
3 yr olds will appreciate it
"Apple presents the iRack"
http://www.youtube.com/watch?v=xcjLEwZqcQI
irecession
idepression
My guess is Asia down 5% tonight.
So, it seems iPhone 5 wont be out until October since 4Q rev estimates are even lower.
I'm an iphone 3GS user and frankly I'm done with Apple. All the Cloud sharing stuff is irrelevant if you don't have other Apple products, which I don't,
as is NFP, 4G, etc. Unless Apple drops their prices by £200 for the Iphone 5, which I very much doubt, I won't be buying it. For me, the Samsung Galaxy
SIII is the better product in terms of price, ability to upgrade GB, swapable batteries and screen size. I don't think I'm the only one.
Remember according to the iTunes agreement you don't own any of your data, or even your phone. According to Apple your payment is actually a lease, your iPhone still remains the property of Apple and it can be taken away at any time.
Other than the design, any android phone is superior to an iPhone in every way.
I've never bothered to read the agreement but if that is the case then they can do one.
Samsung's case let's it down but I put my phones in Otterboxes anyway so I don't really give a shit.
Xactly--my Droid Razr is beautifully finished but lives in an Otterbox so who cares? G III looks very nice and Apple will play hell trying to beat it.
After using/trying out a Nokia Lumia 900 for a few hours, I am waiting on Nokia Windows 8 phone. I fell in love with that Lumia 900.
(no I'm NOT a microsoft fanboy, just a windows application programmer)
Go long on equities, in this market, good is bad and bad is good. Q...E...3
Like I've said several times over the last few weeks. Things are could get ugly. Look for surprises to the downside. We could even have crash potential.
Take it from a guy that actually has to sell things for a living. We're fucked. The consumer is dead.
College students are showing up with an old backpack filled with ramen. The parents are saying good bye and good luck, don't call for money.
"sessinpo"...
Perhaps, you have "said" several times over the last few weeks, things are could get ugly...
I guess, MY MAIN MAN, has been telling everyone to go long, for as long??
SHEESH!!
Not to worry - they pay a dividend!! hahaha.
Apple-sauced.
Crashing through trendline support should scare the technicians away from the long side too.
http://stockcharts.com/h-sc/ui?s=AAPL&p=D&yr=1&mn=0&dy=0&id=p11189361326
$550 seems a reasonable target for tomorrow. And with a forward P/E of about 20 moving into a deepening recession it's got quite a bit of room to the downside in the near future.
Better get those retirement accounts sorted out and safe too, since apples such a big part of most of them. A hard rains' gonna fall.
CNBC Commentary:
Great buying opportunity!
Great buying opportunity!
Great buying opportunity!
Great buying opportunity!
Great buying opportunity!
Great buying opportunity!
Great buying opportunity!
Great buying opportunity!
Off the lows!
Off the lows!
Off the lows!
Well off the lows!
now i have the scene attack on kilgore in my head...Ben and tim getting in the attack helicopters..Ben ask tim .."how ya feeling today?" time.. "Like a mean printing mother fucker sir". and they go off. Printing away. .lets hope its more this scene. With a "i love the smell of rule 48 mornings.." http://www.youtube.com/watch?v=6OnOvrTugiA
It's dead, Jim.
Well, he's...he's, ah...probably pining for the fjords.
Damn, why didn't I realise that!
Mr. Bernanke Apple missed. You have 18,548 phone calls. Mr. Dimon is on line 1.
HILSENRATH....!
Obama is on line 18548
http://www.youtube.com/watch?v=IcaKOVqI554&feature=related
ben gettin into his helicopter!!
iPlotzed.
Global economic slowdown.
Late day FED rumor ramp!
Fed cotton candy for healthy bones and teeth!
They are still growing, they still have $100 billion in cash, and they still have a low P/E ratio. I'm buying more Apple stock on the pullback.
Apple TV will be an expensive dud, and the iPhone 5 will begin the long slow slide of diminishing returns on ever newer gadgets. If there were some other i-[FILL IN BLANK] that they could tackle then I would be bullish on the stock.
iRon?
Do I buy an iPhone 5? Why, I have an iPhone 4.
Do I buy an iPad 4? Why, I have an Ipad 3.
Do I buy Apple TV .... Why
You are right, they are still growing, but when a stock goes from $400 to $700 in less than half a year, a little growth ain't good enough.
Then there is real growth, and channel stuffed "sales".
It went from $400 to about $600 or so because some amateurs commented that Apple was sitting on a boatload of cash and had a P/E of 8. That analysis spread.
Look, either due to the worldwide economic slowdown or other factors (you can only get so big) their rate of growth is going to slow if not for this one quarter at some point. Regardless, I think the fundamentals of the company is strong.
If people want to keep the stock at around $500 while it is still growing 10% or so a year, that's fine by me.
Garbage Motors franchise ....
Better wait...their mojo is broken
What goes up. . . .
yea csco is still growin to. after fluffy cakes took his billions
Vyatta slings the margin, Cisco's greed the very substance.
"they" have 24 hours before the 'bell'. Plenty of noise & smoke can be found ... start with either Europe or China
24 hours would land you after the trading day. Just saying..
35B in revenues and the dream is over. that's sick.
Peak Apple.
iPhone 5, hurry!!! then the 6... and the 7...
Model's doomed.
the apple doesnt fall far from the tree of reality.............................
This is what collapse looks like. If the gains went to the upper 1% and the gains were bogus, too bad.
Apple changing their name to Crapple
That's it folks. Turn out the lights on your way out.
Po folks have no mo money for iStuff , cards all maxed out, 201k's maxed out, repo man outside yo door
RoboTrader? Hello? I think he passed out.
Kick APPL and GM out of the country and don't let them back in. Arrest Gates for patenting food products. Lock em up. Move em out.
Hilarious all the CNBC viewers tweeting in for QE to save AAPL. Sad part is that they are serious.
Tulips. AAPLs.
Plus ça change...
earth to robotrader. come in robo.. paging earth to robo trader come in. ...........
You must really be haawnee.
At least he didn't go for RT's mom.
To be fair, one price drop does not mean the myth is over just yet.
Let the junking commence!
on slaught
Islaughter
I can't wait to hear all of the BTFD comments tonight. Because the future looks so awesome?
The only light at the end of the tunnel is the oncoming train.
I'm now going to do my bit for Italian GDP by knocking back a few Peroni's.
Ciao
If there's anything good about the economy coming down the pike I can't see it.
But if you've got any real-life versions of your avatar you could be very happy about that soon enough.
This is looking to be like one of those situations none of us has experienced other than through the history books: a time when the winners will be the ones who manage to merely hang on and don't get swept away with the outgoing tide. Gold and silver are the ultimate defensive positions.
The market is reaching it's saturation point. Chinese pig farmers DON'T need icraps after all!
It reminds me of the story of the spaceship. One is built that does 50,000 mph. It's sent to Uranus. The following year, a newer version is built, doing 200,000 mph, and it passes the first ship, still on it's way to Uranus. On and on it goes. Why not wait till the Version 4.6456 is created, THEN buy?
reality has exacted its revenge!!!.................
an "i" for an "i"............ a bluetooth for a bluetooth!!!!!...................
iGravity Bitchez!
BLAAPL SWAN DIVE for everyone tomorrow.
Hey Douche Bags, it was 405 at the beginning of the year, what's the YTD gain on that? What is it YOY earnings per share gain, and that's 117B in cash. You fuckers kill me.
if a company is sitting in cash, how is that a good thing? It tells me
1) They have no new grand ideas or they would be using said cash for R&D and capital expenditures.
2) It tells me they have no confidence in the near term economy
Only wall streeters in there own lil fucked up universe see a compnay sitting on cash as a good thing. Yet again, this is the same universe that believes cutting a compnies workforce somehow is a good thing as well.... idiots..
Too bad the US isn't this badly ran and have all that evil cash held back for a strong balance street. Are you somehow saying Apple would be a better run company if they had little to no cash balance. That strong cash balance didn't seem to hurt their innovations with the Iphone and IPad. Apple is bad because they DON"T have confidence in the near term economy? Wow, I must be an idiot because I don't get the logic behind your rant.
That's true, but what matters more is where it's going, not where it's been, and revenue and earnings are going down.
A lot of people in denial are going to get trampled at the exits. Relying on the Fed to save APPL or any other investment is a gamble not worth taking. Their mandate is for price stability and the dollar has lost ~98% of its value on their watch.
Yet we continue to put faith in the Fed, as a people, when it is clear we probably need a new direction in monetary policy to clean this mess.
It's like a fanbase who demands a 79-yr old football coach (who only won 50% of his games in the last 6 years) his team to re-sign him to a new 10 year contract, despite a coverup of one of his coaches molesting children......oh....wait.
it will be 300 in a few years and people will look at these 600 price and say WTF were they smoking. I see many years of same old product but this time the screen is .465" inches bigger whoopeee.
Given that it's now so incredibly obvious that we have to see markets tank tomorrow, I suspect they won't. My bet is everyone freezes in place for a few days. Next week, maybe.
this is of no surprise except non-techies - everybody is waiting to upgrade their contracts for iPhone 5 and this is summer.
Report back to us after next quarter because the real numbers were hidden in AT&T's contract renewals which everyone is holding off on to get the phone upgrade and resign 2 year contract.
No news here - move along. Pointless emphasis of non news for negative bias reaffirmation.
You're caught in deer-in-the-headlight catatonic denial my friend. If Apple is seeing declining revenues you can be sure that everyone else is too. It's not like they are an isolated business.
http://www.youtube.com/watch?v=Wd3vjnjW4go
I am not in denial - I am a trader. I am riding the wave of emotions and the realities of the Apple cultural patterns and summer lull which is completely expected.
Every event is not the precursor to a black swan.... makes me wonder how many people read but actually understood Taleb's books.
Yea, it could never be that most of the world economies, including the US are slowing or outright contracting.
negative bias reaffirmation
don't let your bias ruin your trading
Bravo. Ironically, I wanted to short Apple into earnings (if I were that type of player, and I ain't) because I expected the iPad 3 to underperform. Apparently its sales beat expectations (WTF).
So I would have been right for the wrong reasons. I still the think the iPad is going to hit the "gadget brick wall" soon. The iPhone has an inherent purpose that drives sales--with gadgetry on top. The iPad is a gadget almost through and through, and while I do own one (gasp), I'm done with them, because I've finally seen to the heart of Apple's sick ethos--"we own you and the software you can run and you will give us a credit card and your birth date to even access what free software we will let you run". (Yeah there are ways around that, and my Apple IDs have fake information. No fucking way you're going to know who I am and what I do on my device, Apple.)
unless your cellphone contract has fake data, you don't use any social media, and never buy anything from online (amazon) - you are not fooling anybody.
anything with the numbers of the iPad - will not hit a brick wall. It may slowly fade away as Intel is praying for but if anything, it will easily fit inside the post pc era for nearly 70% of the market that only consumes.
See, you're assuming I'm some kind of average money-burning online consumer with this "not fooling anybody unless..." business. I do and have none of that. I don't perform important transactions on iPads.
if you perform "any" important transactions "online" and use the same connection to browse other common sites of interest. Especially if you have a cable modem.
if not - cool, see you around Neo
iPads for now will deflate and they'll move the invetory for profits. Especially in Q4, when it's apparent the economy is going to dive and they need to move inventory (which will have demand). Although it's gonna be great when the Grid collaspes and the iPads are just reduced to paper weights. HA! suckers.
As for AAPL, It's the "generational effect" that I worry will doom Apple. At some point...someone who either competes, or a inventor who falls on a miracle and releases it for the "good of the e-community", WILL come out with cooler shit.
Just sue Samsung some more.
But but Einhorn said this was cheap... and he is such a genius... he knows everything... how is this possible?
NOOOOO, MY PRECIOUS FIAT IS WITHERING AWAY.
i QE will save the day.
High IQ will get you nowhere.
The only thing I'd like to know is whether the Israelis have sold out due to war financing problems or are they still holding?
It is survival of the fittest and the wealthy have too much to lose.
'And the first one now will later be last, for the times they are a changin.'
'People don't have much food on their table, but they got a lot of knives and forks and they gotta cut something.'
'But dem white folks you knows days got a nuke an be halfin to use it.'
Bullish on fist pumps from PC people (like me).
Although, I feel bad for the Foxconn employees. They won't be getting those extra rations for the rest of the year :(
The dream is over.
I have a HTC, not bad does the job, problem is the power. Same with Iphones, you keep charging the things, the battery power can't cope with the screen and CPU etc. That and they are fragile.
The mobile phone trend is about to end.
NASDAQ is a bubble. The Fed re-inflation trade will be trumped by collapsing profits from all angles, the only thing bid will be oil. It's getting bad real quick.
"The mobile phone trend is about to end."
How so? Are we going back to rotary dial land lines? Moving toward surgically implanted communications hardware? Smoke signals?
Those old dials were AWESOME!
WHOOSH-click-click-click-click-click-click-click-click-click
WHOOSH-click
WHOOSH-click-click-click-click-click-click
WHOOSH-click-click-click-click-click-click-click-click-click-click
Fuck it. This guy has too many zeroes in his number. I'll just see him tomorrow.
granted bakelite phones sound better, look better, hang in when the power's out...re-dial...not so much.
They also never broke, but that's just because they were leased. Heh.
Trend as in advancements, it's hit a peak. Power baby...battery power just can't keep up. I love my HTC, great phone albeit smashed front glass, good apps.
Sir Issac Newton feels he is right again.
From CNBC: 'quarterly results left pros with their jaws agape. “This is a real negative. The Street is shocked by this,” said trader Tim Seymour'
Imagine that.
After Jobs left AAPL in late 1985, earnings continued to rise nicely for a few years and then stagnated. The stock did well into the early 90's (although the late 80's and early 90's was a very good time for stocks in general). But by 1997 AAPL was near bankruptcy and was only saved by a cash infusion from MSFT.
If Jobs were alive, I might be inclined to look upon this miss as a buying opportunity. But since he isn't, I might be more inclined to view it as a wakeup call.
nah...just what happens when you punt on the EURO and you stay long, (and wrong...) ...earning 2 bps on all that cash and pissing away their margin on European sales. Calif always amazed when Washington screws us....(ENRON, Lehman, GS, Countrywide, now Benny can't get the Dollar down, even though BHO promised to grow exports....)
Now I don't know if I should buy an iPhone 4S now or wait for the price to come down when the iPhone 5 comes out. Life is hard.
Speaking of Newton. Did you know that you have to account for the solar winds delta V on your mission to Mars and if your software numbers are in Imperial and they should be in Metric then your 2 billion dollar Mars Rover enters Mars orbit at 57 miles instead of 157 miles and it then burns up or skips back out into space. Good thing you can print more money.
i honestly thought the Rush Limbaugh embossed Ipad's would have pulled em through this quarter, especially with that awesome screen which is great for crushing oxycotins on.