Joseph P. Porter's  Instablog

Joseph P. Porter
Send Message
I am a retired college faculty in Philosophy, with specializations in Ethics, Socio-political Theory and Rational Choice/Decision Theory. My teaching focus was on Business Ethics, Medical Ethics and Logic. After retirement I freelanced as a Grant Writer/Fund Raising Consultant. I have taught at... More
My company:
My blog:
Joseph P. Porter's Instablog
  • Apple Sauce: What Goes Up Must Come Down 0 comments
    Jan 24, 2013 1:16 PM | about stocks: AAPL

    I don't own any shares of Apple (NASDAQ:AAPL).


    Apple hit its 52-week high with a price of $702.10 on 9/19/12. In the four months since that bout of "Apple-mania" its price has dropped gradually (and, on occasion, not so gradually) to its current valuation (at closing, 1/24/13) of $450.50.

    A drop of $251.50/share.

    A loss of nearly 36%.


    I've been hit with losses before (see my "Triangle Capital Corporation: Tempest In a TCAP"), but never a loss of this magnitude. And the loss is particularly stunning when you realize that there is probably no one with just one share of Apple in their portfolios.

    It's sort of an interesting coincidence that it was (supposedly) an apple falling out of a tree that gave Isaac Newton the idea about gravity - and his wife the idea for apple sauce.

    This kind of loss, however, is not funny - and not even gratifying to those of us who have never really liked or trusted Apple (the only Apple product I've ever owned was an iPod Shuffle that I got for Christmas as a gift from my sister-in-law who, at the time, was a VP of a media management firm, and had gotten the iPod as a promotional gift - the Shuffle is no longer even supported by Apple). How many mutual funds and ETFs had Apple as one of the top-10 holdings in their portfolios? How many hundreds of millions have been lost just from this one company?

    It's hard to imagine.

    Some other day people will no doubt chuckle at the idea of Apple fanatics taking a (blood) bath in the stock market. "Apple just got too big for its britches," they will say. "It was way over-valued, and still is. When Jobs died, the driving force behind the company died, and we're now watching the funeral."

    If so, it's going to be a very expensive funeral.

    Disclosure: I am long TCAP.

    Stocks: AAPL
Back To Joseph P. Porter's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • $CUR up $0.27 @1:20 - can't find any news for big jump (15%!) - anyone know what's going on?? Very smiley face about this.
    Sep 24, 2015
  • $CUR earnings didn't help their case much - @ ~ $2.38. Will take great news somewhere to bring stock back up.
    Mar 16, 2015
  • Ignore ETF Expense Ratios? Maybe
    Dec 18, 2014
More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.