Nasdaq Plunges As AAPL Suffers Triple Whammy

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...

Comments

John Kerry-Heinz World Cash Day Wed, 09/20/2017 - 12:22 Permalink

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!

In reply to by World Cash Day

ZoroAustrian Soul Glow Wed, 09/20/2017 - 11:26 Permalink

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

In reply to by Soul Glow

jin187 Soul Glow Wed, 09/20/2017 - 11:33 Permalink

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.

In reply to by Soul Glow

GunnerySgtHartman Soul Glow Wed, 09/20/2017 - 11:30 Permalink

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.

In reply to by Soul Glow

Overleveraged_… Wed, 09/20/2017 - 11:14 Permalink

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.

Blue Dog Overleveraged_… Wed, 09/20/2017 - 12:16 Permalink

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.

In reply to by Overleveraged_…

Kefeer Overleveraged_… Wed, 09/20/2017 - 14:27 Permalink

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?

In reply to by Overleveraged_…

Soul Glow lester1 Wed, 09/20/2017 - 11:19 Permalink

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.

In reply to by lester1

gregga777 Wed, 09/20/2017 - 11:23 Permalink

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?

Sky flyer Wed, 09/20/2017 - 11:27 Permalink

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 Wed, 09/20/2017 - 11:28 Permalink

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 Mi… Wed, 09/20/2017 - 11:29 Permalink

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?

Albertarocks Wed, 09/20/2017 - 11:33 Permalink

"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.