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Apple Suffers Biggest Two-Week Drop In 39 Months

Tyler Durden's picture


Presented with little comment except to give some context for the current weakness in what was the world's largest market cap stock a few days ago. In the last 11 days, Apple has dropped over 12.5% - the largest such drop since January 2009 - as today sees the stock's fall continue to yesterday's lows down over 2.7%. With just a few hours to the event-horizon, options traders are active and stock volume run-rates are high as selling pressure dominates.


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Tue, 04/24/2012 - 13:49 | 2370599 Stoploss
Stoploss's picture

Your fucked bagholders.

Tue, 04/24/2012 - 13:55 | 2370627 SHEEPFUKKER

Siri, please sell my AAPL stock. 



Tue, 04/24/2012 - 14:00 | 2370647 Oh regional Indian
Oh regional Indian's picture

Hey, did anybody notice?

Siri is a clever play on feminizing Sir. 

I think it's pretty clear who's the boss. Hmmmm....

Apple minus Jobs was always going to be a fight, no? This is all rearguard action, trying to keep the Wood on till FaceFCUK IPO's and then all the combined "winnings" from Linkedin, Gropepon etc. can move into Internet 2.0.

Perhaps Apple does not really belong in the new ecosystem. It only spawned it.



Tue, 04/24/2012 - 14:11 | 2370693 Spastica Rex
Spastica Rex's picture

It's a shadow in Plato's cave.

Tue, 04/24/2012 - 14:16 | 2370710 Levadiakos
Levadiakos's picture

Free Gil Amelio

Tue, 04/24/2012 - 14:22 | 2370739 Spastica Rex
Spastica Rex's picture

Milk went out my nose.


Tue, 04/24/2012 - 14:17 | 2370711 BlueCollaredOne
BlueCollaredOne's picture


One day some of the chinese workers making the phones got wind that the phone in their very hands was going to be able to make appointments, autosearch for you, text what you say into it, etc. 

An apple executive was touring one of the production factories when he overheard  two workers having a conversation which went a little something like this.  "ohhh, dose Amelicans is gonna talk everyfing into da phone, dey so sirrrrrry."

The name stuck. 

Tue, 04/24/2012 - 15:15 | 2371061 HarryM
HarryM's picture

Vote here ----  AAPL going (thumbs UP) or (thumbs Down) after earnins report

Tue, 04/24/2012 - 14:43 | 2370857 Freddie
Freddie's picture

You put an iPad or iMac on your lap it will feminize any man.  The 190 deg F heat and radiation kills all the s**rm and sterlizes a man. 

Tue, 04/24/2012 - 14:46 | 2370878 Spastica Rex
Spastica Rex's picture

Is "sperm" an offensive word?

Tue, 04/24/2012 - 14:48 | 2370889 BlueCollaredOne
BlueCollaredOne's picture

Dont be a cunt, of course sp**m is



Tue, 04/24/2012 - 16:07 | 2371302 Freddie
Freddie's picture

It attracts SkyNet and puts you in their database.

Tue, 04/24/2012 - 16:13 | 2371317 Spastica Rex
Spastica Rex's picture

Certainly possible.

Tue, 04/24/2012 - 14:56 | 2370940 SheepDog-One
SheepDog-One's picture

CollegeHumor skit on Siri is HILLARIOUS! 'Siri, give my wife directions straight to hell please!'

Tue, 04/24/2012 - 14:10 | 2370685 SMG
SMG's picture

I have a Samsung galaxy note phone and honestly I love it.    Using both Android and and iPad (because the Mrs. just HAD to have it), I don't really see a huge difference between the AAPL product and the Android. In fact Android has more free games and stuff than Apple does.   In my opinion AAPL products currently don't justify their excessive high price in in the current electronics market. 

Tue, 04/24/2012 - 14:23 | 2370744 blunderdog
blunderdog's picture

That's definitely true for the consumer electronics side of things.  I suspect there's a significant "Apple fanbase" among people who own Macs.

The iPod was a major revolution in portable music players.  The iPhone was (briefly) the slickest smartphone.  The iPad is a mediocre tablet.

Seems to me that whatever "brilliance" may once have been forthcoming from Apple is depleted.  It's now just an ongoing effort to maintain the current market-share. 

That said--the people who prefer Macintosh over Windows for the interface and BSD backend (and who could blame them?) may well be a permanently-captured group, just like small businesses that run MS Exchange are permanently-captured by Microsoft.  The problem is that this is not nearly as large a group as the one MS has ensnared.  On the other hand, Apple has monetized its fans reasonably well with iTunes.

I think it's going to be awhile before the price premium is gone.

Tue, 04/24/2012 - 16:23 | 2371340 AustriAnnie
AustriAnnie's picture

"Apple has monetized its fans reasonably well with iTunes"

It was my understanding that iTunes is not very profitable for Apple.  

They use it to keep the people buying the gadgets, and to keep the Apple cult alive. 

Tue, 04/24/2012 - 17:23 | 2371623 blunderdog
blunderdog's picture

$4B a year in revenue is pretty good in this economy, I think.  Check what's happening with Amazon.  Considering it helps maintain demand for the other products, iStore profit could go negative and still be a net benefit.

Really, though, I suspect they can adjust the "profits" up and down pretty easily depending on what they choose to do with the store during any given year.  It's not a subsidiary.  If hardware sales fall off a cliff, they'd have a lot of flexibility with the digital distribution infrastructure.

Tue, 04/24/2012 - 14:26 | 2370762 Spastica Rex
Spastica Rex's picture

Both the Mrs. and I got stars on ours, but then we found out that some of "those" people down the street got stars on thars too, so we had ours taken off. Later, on TV, I saw how cool stars had become so I got mine back. My wife didn't, and now we don't match, which I think is the worst thing of all.

Tue, 04/24/2012 - 14:55 | 2370936 Jack Sheet
Jack Sheet's picture

Android has caught up pretty well with iOS for smartphones (although many will not update to Android 4), but is way behind with tablets and they have nothing remotely approaching the iPaD 2 for ease of use. I have an excellent  Android smartphone (HTC) but could not find a good android tablet and ended up with an iPaD 2 - very satisfied too.

Tue, 04/24/2012 - 15:11 | 2371030 walküre
walküre's picture

In my opinion AAPL products currently don't justify their excessive high price in in the current electronics market.


Tue, 04/24/2012 - 14:28 | 2370769 Hansel
Hansel's picture

That rug really tied the room together, did it not?

Tue, 04/24/2012 - 15:14 | 2371053 Stoploss
Stoploss's picture

Oh, i forgot, AT&T attributed their earnings beat this morning to a wait for it.......  wait for it........  wait for it.......

A DROP in iPhone sales.. Yes, that is the word drop. (not my word, theirs.) So they didn't have to pay as much as they thought to AAPL for iPhones.

46 minutes.....

Tue, 04/24/2012 - 20:53 | 2371986 disabledvet
disabledvet's picture

what's a "your fucked bagholder"? i no i don't have one.

Tue, 04/24/2012 - 13:51 | 2370609 buzzsaw99
buzzsaw99's picture

According to CALpers one can never pay too much for some nice crAAPL.

Tue, 04/24/2012 - 14:11 | 2370684 ZeroPower
ZeroPower's picture

Straddle's implying a $40 move after the earnings report so this shall be either a ~$510 or $600+ stock after hours today...

Tue, 04/24/2012 - 13:53 | 2370615 gjp
gjp's picture

Said drop looks like an ever-so-tiny blip on that chart.

Two ways to look at it I guess: nothing but a mere flesh wound on the way to world domination or this could fall a lot further.

Tue, 04/24/2012 - 13:54 | 2370620 Christoph830
Christoph830's picture

Israel is not going to be happy about this...hope they don't take it out on Iran

Tue, 04/24/2012 - 14:57 | 2370952 SheepDog-One
SheepDog-One's picture

If Israel really did buy this at around $600 at that time after a 40% 2 month run up, then they really have to be idiots!

The whole story was probably just propaganda, I dont even believe it.

Tue, 04/24/2012 - 15:12 | 2371035 walküre
walküre's picture

Considering the source, the players and the proverbial cui bono .. you're very much on the money.

Tue, 04/24/2012 - 13:55 | 2370623 Dr. Engali
Dr. Engali's picture

The longer term chart sure looks like a blow off top.

Tue, 04/24/2012 - 14:17 | 2370717 Levadiakos
Levadiakos's picture

Looks a repeat of NFLX chart. Identical with 1/2 pps.

Tue, 04/24/2012 - 14:55 | 2370840 HarryM
HarryM's picture

Only to be rescued yet again by the 2:30 Fairy


This is getting soooooo.... old

Exactly who is buying?

Tue, 04/24/2012 - 13:55 | 2370626 InterestingLinker
InterestingLinker's picture

The apple logo is displayed prominently and uniquely here!

Just click with the mouse once or twice.

Tue, 04/24/2012 - 13:59 | 2370643 rubearish10
rubearish10's picture

AAPL, the best leading market indicator EVER! Get it?

Tue, 04/24/2012 - 14:19 | 2370725 Levadiakos
Levadiakos's picture

It is time to put AAPL in the DOW !!! 

Tue, 04/24/2012 - 14:01 | 2370648 BlandJoe24
BlandJoe24's picture

Unclear until after earnings report this evening, don't you think?

Tue, 04/24/2012 - 14:12 | 2370700 blu
blu's picture

No better time than before earnings to bash AAPL.

My wife loves her iPad. My daughter, her iPhone. Apple last week gave us a free MacBook Pro to replace a really old one that had become buggy, no questions asked.

They make good products that lots of people like, and I've always felt they maintain excellent customer relations. I'm way willing to pay for those two right there. And as such I'd call that winning at the capitalist trough. YMMV.

Now if they would only dump the slave labor thing, I'd be down.

Tue, 04/24/2012 - 14:25 | 2370751 taraxias
taraxias's picture

Screw you asshole.

I bought a macbook pro that had issues right out of the box and these arrogant bastards wouldn't exchange it, and you come on here spewing bullshit "no questions" asked.

What's your agenda?

Tue, 04/24/2012 - 14:25 | 2370759 blu
blu's picture

Jesus loves you.

Tue, 04/24/2012 - 14:26 | 2370763 blunderdog
blunderdog's picture

Funny to see you junked for that.  People are so focused on share-price they may have forgotten what the whole "Apple" thing is actually ABOUT.

It's a bit like seeing people dissing on Ford 15 years ago because it didn't attempt to convert itself into a finance company with a carmaking subsidiary (like GM).

Tue, 04/24/2012 - 16:39 | 2371408 AustriAnnie
AustriAnnie's picture

I'll still love my Mac if the Apple stock price is $1,000, but that doesn't mean the stock price is justified.  

If everyone loves their iphone and their ipad at Apple = $5,000?

Apple = 10,000?

Where does it stop, then?  If loving a product justifies any price for the stock?

I'm sick of hearing the argument that "Apple stock will only go up because people like their products."  That's bullshit.  

Secondly, its a matter of time till someone comes out with a product that blows away the iphone, and then they'll be in a whole different place.

Empires fall.  And if Apple doesn't fall on its own, its a matter of time till someone with something to gain uses politics to bring them down.  When a company gets that big, a lot of people stand to gain from its fall.

Tue, 04/24/2012 - 17:16 | 2371589 blunderdog
blunderdog's picture

My point is that there's a completely irrational hatred for "all things Apple" around this place.

Do I think the stock is going to go up in price?  No, but I've been wrong about so many things I could just as reasonably toss a coin.

There's no reason to hate Apple (as a COMPANY) or Apple-users (as PEOPLE) just because the stock is overvalued.

And yet that's exactly what you see here. 

Tue, 04/24/2012 - 14:58 | 2370954 HarryM
HarryM's picture

Well here's your chance to load up - think of it as a 12% off sale.

Tue, 04/24/2012 - 14:59 | 2370960 SheepDog-One
SheepDog-One's picture

Yea blu I like my iMac too.....but Im not leg-humpin the thing all day....get a grip!

Tue, 04/24/2012 - 15:07 | 2371010 blu
blu's picture

Gee.. say one nice thing around here and they rip your head off.

Okay fine! Have it your way.


Haiterz gonna hait.

Tue, 04/24/2012 - 15:19 | 2371080 SheepDog-One
SheepDog-One's picture

Just because someone makes a good product doesnt mean the stock is worth $600 and a $500 billion market cap! Reasonably Id say Apple is worth $150 or so. 

Tue, 04/24/2012 - 15:19 | 2371082 blunderdog
blunderdog's picture

You wouldn't waste your time trying to discuss the weather with a chimp at the zoo, wouldya?

Tue, 04/24/2012 - 19:50 | 2371911 Whiner
Whiner's picture

He back dated his options and would not acknowledge his own child. For this, the stock is being punished, consigned to everlasting hell. First Confusions 2:3-4.

Tue, 04/24/2012 - 14:02 | 2370652 Taterboy
Taterboy's picture

"Hello Siri, what should I do now?"- Jim Cramer

Tue, 04/24/2012 - 14:02 | 2370654 Timmay
Timmay's picture

Share of apple worth more than an Ipad. Is that good or bad?

Tue, 04/24/2012 - 14:04 | 2370663 monopoly
monopoly's picture

AAPL and this entire market scare me. Do not want any part of it right now. Just physical. Market acts poorly. 

Tue, 04/24/2012 - 14:04 | 2370664 asteroids
asteroids's picture

It's 2PM. I wonder if Margin Call clerks are busy.

Tue, 04/24/2012 - 14:24 | 2370750 Levadiakos
Levadiakos's picture

going to see a massive premium implosion in the options

Tue, 04/24/2012 - 14:05 | 2370673 earleflorida
earleflorida's picture

Gold Bitches!

It's not so much about QE3 anymore, but the fast approaching QE4? 

Tue, 04/24/2012 - 15:00 | 2370969 SheepDog-One
SheepDog-One's picture

QE4.1NEW by this time.....gas will explode to over $6 if Ben announces it, and I'll laugh and laugh. Go for it Ben, lets see what you got beotch.

Tue, 04/24/2012 - 14:06 | 2370675 Jack Sheet
Jack Sheet's picture

AND the following moving averages were violated brutally to the downside

50 day  simple !!

38 day 6 hour exponential !

43 day exponential  !

67.36 day simple !


Tue, 04/24/2012 - 14:15 | 2370707 blu
blu's picture

You missed the reverse-backflip-with-a-half-gainer average. And you call yourself a technical trader?

Tue, 04/24/2012 - 14:19 | 2370724 Jack Sheet
Jack Sheet's picture

Shit - you got me there - I guess I confused it with the give-me-head-and-shoulders merging via a bare reversal  into the "inverse blowjob" formation.

Tue, 04/24/2012 - 14:25 | 2370753 blu
blu's picture

This is why the HFT algos always win. No mere human can hope to keep up with this crap.

Tue, 04/24/2012 - 14:06 | 2370676 monopoly
monopoly's picture

And how about PCLN> Joining the rest of the "crowd".

Tue, 04/24/2012 - 14:36 | 2370815 GetSome
GetSome's picture

Looking like the same fate for everybody's favorite CMG

Tue, 04/24/2012 - 15:15 | 2371062 walküre
walküre's picture

AMZN is up


Tue, 04/24/2012 - 14:08 | 2370681 Dr. Engali
Dr. Engali's picture

With Apple falling to earth and Facebook crashing and burning, what's Wall Street gonna do? There are no miracle stories to sell.

Tue, 04/24/2012 - 14:19 | 2370726 blu
blu's picture

The Hell? You think they cannot still sell Apple and Facebook? Almost nothing fundamental has changed in a month. And if Benny ever utters any string of random sylables that sounds anything like "quantitative easing" then the roof will come off these issues.

Tue, 04/24/2012 - 14:23 | 2370745 Dr. Engali
Dr. Engali's picture

FaceBook is already hinting at pushing back their IPO ,and quarter over quarter revenues are declining. Not exactly an exciting story.

Tue, 04/24/2012 - 14:27 | 2370766 Levadiakos
Levadiakos's picture

Facebook is a joke.

Tue, 04/24/2012 - 15:04 | 2370979 SheepDog-One
SheepDog-One's picture

When even your gramma is talking about getting on her 'Facespace' know its all over.

Tue, 04/24/2012 - 15:09 | 2371024 blu
blu's picture

Gramma also has a cell phone just like everyone else.

I don't use FB, I don't like the model, but they absolutely won this battle.

Tue, 04/24/2012 - 15:20 | 2371086 SheepDog-One
SheepDog-One's picture

Face it, Facebook is gay.

Tue, 04/24/2012 - 16:07 | 2371300 blu
blu's picture

Chicks like it. So there you go.

Tue, 04/24/2012 - 20:13 | 2371936 lakecity55
lakecity55's picture

Apple makes a product.

FB produces BS.

Tue, 04/24/2012 - 15:39 | 2371190 Freddie
Freddie's picture

When Facebook goes pubic - the market will go down big time. 

I think the Chinese can shred iPads and them as plastic rice to the Vietnamese.  They have done it before.

Tue, 04/24/2012 - 14:09 | 2370683 Taterboy
Taterboy's picture

 A guy named Newton saw this apple gravity thing coming a long time ago.

Tue, 04/24/2012 - 14:36 | 2370814 Levadiakos
Levadiakos's picture

Newton took to wearing a MacIntosh to protect from the shit storm that unfolded.

Tue, 04/24/2012 - 14:11 | 2370691 Stoploss
Stoploss's picture

Guidance better be S T R O N G..

The chart says some body knows different..

I expect a top and bottom line beat, and based on what the chip makers are saying,

softer guidance than usual from the call right before A/H closes.

35 B note auction on AAPL reporting day. Coincidence??

Tue, 04/24/2012 - 14:23 | 2370743 blu
blu's picture

I agree. It will be good money-wise, but a weaker forecast.

Hmm ... head-spinning 10% drop in the AH. Followed by a massive ramp next day.

Options action this week must have been epic.

Tue, 04/24/2012 - 15:03 | 2370987 SheepDog-One
SheepDog-One's picture

Even if guidance is said to be super strong, is anyone really believing the 40% runup was only a warm up? 

Tue, 04/24/2012 - 15:12 | 2371040 blu
blu's picture

Might be. Apple is like some kind of juggernaut in the consumer electronics space right now, everything they touch turns to gold. Should they stock split 5:1, they are back in reach of retail stock buyers. Who knows how far it could run after that.

Tue, 04/24/2012 - 15:21 | 2371091 SheepDog-One
SheepDog-One's picture

Yea yea, same as RIMM was 2 years ago, and many others before it....just the latest teflon coated best stock of all time and will probably be obsoleted in 12 months.

Tue, 04/24/2012 - 16:10 | 2371310 blu
blu's picture

12 months, maybe 24. Maybe a few years.

But in internet time that's like a epoc or something. We're carbon dating dinosaurs with this stuff. They'll name a geologic period after Apple, mark me.

Tue, 04/24/2012 - 14:11 | 2370692 Ted Baker
Ted Baker's picture

10 days ago Goldman was advising their M-CLIENTS "Muppets" to BUY APPLE...HOW COME?

Tue, 04/24/2012 - 14:15 | 2370706 Lost Wages
Lost Wages's picture

The Apple of Discord.

Tue, 04/24/2012 - 14:15 | 2370708 bobola
bobola's picture

Newtoned...a dropped Apple....


Tue, 04/24/2012 - 14:18 | 2370720 c-rev with a twist
c-rev with a twist's picture

Can you spell P-A-R-A-B-O-L-A?

Tue, 04/24/2012 - 14:30 | 2370733 devo
devo's picture

There were few things more predictable than Apple price decline heading into earnings...

Expect guidance beat but they won't beat the whisper number. So, not a miss but a disappointment. That's what I expect.

Tue, 04/24/2012 - 14:23 | 2370741 fuu
fuu's picture

Anyone heard from Slaughterer today?

Tue, 04/24/2012 - 14:32 | 2370787 slaughterer
slaughterer's picture

Ground control to "Major Apple."

Take your protein pills and put your helmet on. 

Tue, 04/24/2012 - 15:42 | 2371206 fuu
fuu's picture


Tue, 04/24/2012 - 14:33 | 2370794 pan
pan's picture

In Reggie I trust.


Tue, 04/24/2012 - 14:38 | 2370823 Levadiakos
Levadiakos's picture

When did he call "it". $250?

Tue, 04/24/2012 - 14:45 | 2370874 junkyardjack
junkyardjack's picture

You'd be bankrupt following him

Tue, 04/24/2012 - 14:40 | 2370839 slaughterer
slaughterer's picture

.... and may God's love be with you....

Tue, 04/24/2012 - 14:41 | 2370842 Levadiakos
Levadiakos's picture

Never fails. This is the most crowded trade since the shorts of 2009. Hedge funds have always been the origional muppets. 

Tue, 04/24/2012 - 14:45 | 2370861 CvlDobd
CvlDobd's picture

I wondered what drove the little bounce in AAPL just now. Should have known it was a ZH article that causes short term bounces in tho stock.

Tue, 04/24/2012 - 14:49 | 2370895 blu
blu's picture

... and it's already started down again.

It is called volatility and it is the crusher of souls.

Tue, 04/24/2012 - 15:00 | 2370972 HarryM
HarryM's picture

It's the 2:30 Fairy

You can set your watch to her appearance

Tue, 04/24/2012 - 14:51 | 2370910 GrinandBearit
GrinandBearit's picture

AAPL, PCLN, and all other overvalued pos stocks need to die horribly...  DIE, DIE, DIE!

Tue, 04/24/2012 - 15:35 | 2371165 devo
devo's picture

CMG is the worst offender.

Tue, 04/24/2012 - 15:52 | 2371252 Debtless
Debtless's picture

My iStink bids are in for $375.

Tue, 04/24/2012 - 16:19 | 2371326 nyse
nyse's picture

So is the Steve Jobs hologram going to handle the call, or are they saving that for new product releases?

Tue, 04/24/2012 - 21:30 | 2372049 Angus McHugepenis
Angus McHugepenis's picture

Excellent.... raise the dead to sell more iCrap. Are the workers at Foxcrap still leaping off roofs?

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