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Apple (AAPL -0.9%) shares continue to have an autumn to forget - they're now trading at levels...

Apple (AAPL -0.9%) shares continue to have an autumn to forget - they're now trading at levels last seen in May. Credit Suisse suggested this morning bulls should consider selling a Jan. '13 options strangle involving strike prices of $525 and $600. Morgan Stanley's Katy Huberty provided another positive note: she claimed component supply constraints are "no longer an issue;" that component costs could drop in 1H13; and that the Chinese government could issue 4G licenses in 2H, something that would pave the way for a China Mobile (CHL) deal (previous).
Comments (29)
  • If anything has fallen off the cliff it's Apple! Funny thing is, this is the only company out there that's making some real money.
    15 Nov 2012, 03:15 PM Reply Like
  • Apparently, the numbers are not so rosy as they appear to be...http://bit.ly/QgP5ka
    15 Nov 2012, 04:23 PM Reply Like
  • Why did you pay for article or did you author it. Just a gimmick to make people buy an artivle
    15 Nov 2012, 05:21 PM Reply Like
  • It's Reggie Middleton article. He's been bearish on Apple for about 18 months. He'll be ordering champagne at the moment.

     

    Next stop somewhere round about 380 as the hedgies continue to liquidate. Hmm surely not, It does seem an awfully long way down though, maybe it'll stop earlier.
    15 Nov 2012, 06:38 PM Reply Like
  • What's an artivlle?
    15 Nov 2012, 08:43 PM Reply Like
  • So are you using your millions to short it at $525? I'm sure with your genius you must be really smart and very rich yet you find the time to help us idiots out by telling us where exactly Apple is going to land. Thank you sooooo much. Please get your own television show or better yet, buy a network like Bloomberg to keep the masses informed. Your genius deserves a wider audience.
    15 Nov 2012, 08:49 PM Reply Like
  • Whoever shorted at $700 deserved to make every penny. The point is when everyone: the media, the analysts, the bloggers - every single one of them who sang the praises of AAPL as though it's invulnerable to market conditions, and to those who bought in - lesson learned. $1,000/share! Trillion dollar market cap! Growth story!? It's not a story, it's AAPL!

     

    If you bothered to pay attention, you'd have seen trouble was brewing a mile away.

     

    I missed the ride, no doubt, but at some point you had to look at the cost per share, and what else in the market that provides value. How about a share split so retail investors can buy some shares without mortgaging their house?

     

    Some folks are going to have a sad and pitiful holiday season unless things pick up soon and fast. What's exacerbating the problem is the wishy-washy politicians flirting with the fiscal precipice.
    16 Nov 2012, 12:10 AM Reply Like
  • Agreed. Not a big fan of the product, but making moolah is making moolah.
    16 Nov 2012, 12:27 AM Reply Like
  • CHL is one of the many reasons Apple is attractive here

     

    http://seekingalpha.co...
    15 Nov 2012, 03:16 PM Reply Like
  • The support level for Apple is 360. Look at the charts. It exploded in 2009, had another decent year in 2010. In 2011 had some good gains but not like the previous 2, then this year from January to April it went almost straight up. When a stock goes almost straight up it means to many new investors have gotten into the stock. The stock gets out of whack in regards to the price per share. That is why now you see selling. There has been a little bad news, the new iphone has had issues with it's map feature, the excitement level is not what it once was, blah, blah.

     

    Apple could fall to around 420, there is a little support there, but it looks like at around 360 it has some good strong support.
    15 Nov 2012, 04:06 PM Reply Like
  • "The excitement level is not there" Really? The last time I checked Apple is having a hard time meeting demand for its products, Especially the Iphone 5!
    15 Nov 2012, 05:00 PM Reply Like
  • Does look like the hedgies and mutual funds, who have AAPL as their largest holding are selling to lock in profits and reduce exposure. So the selling could go on for quite awhile yet as these big boys keep unloading. And a whole lot of hedgies and mutual funds do have AAPL as their largest holding.
    15 Nov 2012, 05:51 PM Reply Like
  • I posted warnings about your exact point... Nobody ever listens when it's going up.
    15 Nov 2012, 06:42 PM Reply Like
  • More to the point, the competition have come back to play with better products. The iPhone 5 is barely out of the gate and the talk's already about the iPhone 5S and iOS 7... They blew it, it's not competitive, quality problems (which is why they can't satisfy demand).
    15 Nov 2012, 06:52 PM Reply Like
  • If they were selling it would have been through by now. You people kill me. LOL
    15 Nov 2012, 08:44 PM Reply Like
  • Because they are busy making money while you don't.
    15 Nov 2012, 08:53 PM Reply Like
  • @Rick - do you ever do anything but look at charts? $360 is 7x forward EPS and then you have about $130 cash on the balance sheet.
    15 Nov 2012, 11:14 PM Reply Like
  • 360 is about as likely as 1500.
    15 Nov 2012, 04:40 PM Reply Like
  • I thought the same about $540 when it was at about $650.
    16 Nov 2012, 01:29 AM Reply Like
  • There is no reason to go long AAPL right now
    15 Nov 2012, 05:22 PM Reply Like
  • AAPL is now trading below its long-term 50-day MV of $559.18 and MACD (12, 26, 9) is still showing a very bearish sign. Will it head to $329.88, the long-term 200-day MV??
    15 Nov 2012, 06:46 PM Reply Like
  • No.
    15 Nov 2012, 08:45 PM Reply Like
  • I think would could all agree that a 25% sell-off in less than 2 months is a fairly bearish sign w/o looking at any other metrics.
    16 Nov 2012, 01:28 AM Reply Like
  • The discussions about where AAPL stock price will go are hilarious. A company with 120 billion in cash.......assume the stock goes to 360. How much could AAPL buy back? What would be the P/E and PEG? How high would the stock overshoot on the way back up? 1500? Interesting questions.

     

    We were where we are now in May and we will go back up again. From where is anyones guess but why selling under 500? Who would? I wouldn't sell right now actually. Also, if AAPL falls further I see Xmas bonus swimming away for many in the industry.
    15 Nov 2012, 09:29 PM Reply Like
  • Who cares... trend is down and best way to play it is selling this short until it has sign of rebounce
    15 Nov 2012, 09:41 PM Reply Like
  • Anyone know how I can get my hands on one of those suicide nets that FoxConn uses?
    15 Nov 2012, 11:03 PM Reply Like
  • How much of that 120B in cash is overseas? How much has been used to held inflate the bubble?
    16 Nov 2012, 12:12 AM Reply Like
  • Just another sign that the little bull market is ending, as the institutional investors sell off the winners. It is very easy for them to sell shares of AAPL.
    16 Nov 2012, 12:24 AM Reply Like
  • The herding instinct is alive and well. When Apple was trading $150 higher people were buying it like they were spending Monopoly money. Now that it's dropping, people are dumping the stock like they'll get leprecy if they hold on to it.
    16 Nov 2012, 01:30 AM Reply Like
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