Seeking Alpha

Apple (AAPL -5.8%) has hit levels last seen in Dec. '11 following Cirrus Logic's warning and a...

Apple (AAPL -5.8%) has hit levels last seen in Dec. '11 following Cirrus Logic's warning and a Digitimes report about declining iPad Mini shipments. Cross Research calls Cirrus' warning "a reminder of weakening demand, and the challenges around product transitions" for Apple. Tero Kuittinen, noting sub-30M June quarter iPhone sales estimates and worries about the margin impact of emerging markets promotions, thinks "several nightmare scenarios have been priced in." "The naked fear of former Apple bulls is exactly what we need just before the earnings come out."
Comments (55)
  • Christopher F. Davis
    , contributor
    Comments (1179) | Send Message
     
    Just printed a three handle. After this quarterly report, the stock will have a market cap that is a lil over 2x its CASH. Really?
    17 Apr 2013, 12:57 PM Reply Like
  • imac007
    , contributor
    Comments (441) | Send Message
     
    Samsung indicate that their Apple's orders for next gen processors are non-existence. Ergo, Apple are not going to produce any new tablets or phones.

     

    Next Chicken Little fan club meeting to be held in the foyer of the theatre carrying the last Bond movie.
    17 Apr 2013, 04:35 PM Reply Like
  • Humble Eagles
    , contributor
    Comments (1296) | Send Message
     
    What worries me is that Verizon reports in hours, and T in days. I would love to believe in a level playing field, but these kinds of moves look like insider trading to me. Big money finding out that idevice demand has imploded. Individual investors get to watch the fireworks in the charts. This doesn't look like panic to me; it looks like big money unloading Apple shares, but the constant waves followed by stability could be panic, too. It looks pretty orderly so far.
    17 Apr 2013, 01:00 PM Reply Like
  • jzivick
    , contributor
    Comments (92) | Send Message
     
    What is the volume of trades? Big money means big volume. I don't see unusual volumes of AAPL trades.
    17 Apr 2013, 03:19 PM Reply Like
  • Humble Eagles
    , contributor
    Comments (1296) | Send Message
     
    Volume was 2X average...
    17 Apr 2013, 06:21 PM Reply Like
  • wigit5
    , contributor
    Comments (3928) | Send Message
     
    I saw a price of 399.xx on the screen for a fleeting moment!
    17 Apr 2013, 01:02 PM Reply Like
  • Vegas Ben
    , contributor
    Comments (216) | Send Message
     
    Yahoo is showing a low of $398.11.
    17 Apr 2013, 01:05 PM Reply Like
  • wigit5
    , contributor
    Comments (3928) | Send Message
     
    google concurs Vegas... I must have missed that price
    17 Apr 2013, 01:07 PM Reply Like
  • pat45
    , contributor
    Comments (290) | Send Message
     
    watching AAPL bot @ 401...CRUS did poor inventory management before they made new chip..of course aapl and others want new chip not old one for phones...that does not mean aapl did anything wrong!! they have so much cash and huge earns--street doin what it can to drive it down--then will pop it--just like bby, hpq, deck, skx lulu nflx others.GOOG has same cash and earns exp..yet 2x price
    17 Apr 2013, 01:12 PM Reply Like
  • ciolan
    , contributor
    Comments (193) | Send Message
     
    I would never short Apple because news of a new product can come at any time, but the direction is clearly toward mid 300's, and a few people were saying this since the stock was 560 - 590.
    17 Apr 2013, 01:21 PM Reply Like
  • SP5524
    , contributor
    Comments (83) | Send Message
     
    Unfortunately, I don't even think a new product announcement would do anything for the stock. Seems no matter what the company is perceived to be headed towards bankruptcy.
    17 Apr 2013, 01:24 PM Reply Like
  • RycheMykol
    , contributor
    Comments (352) | Send Message
     
    I agree. Even if they blow away estimates (not gonna happen though) the stock is going to go down.

     

    The analysts and hedge funds are wanting to get in at a lower price.
    17 Apr 2013, 01:34 PM Reply Like
  • Vegas Ben
    , contributor
    Comments (216) | Send Message
     
    That's ridiculous, RycheMykol!
    17 Apr 2013, 01:54 PM Reply Like
  • Kboyd78
    , contributor
    Comments (151) | Send Message
     
    Yep I'm with this guy. Gold and apple both worthless, who would have suspected it!
    17 Apr 2013, 02:03 PM Reply Like
  • Rummeljordan
    , contributor
    Comments (477) | Send Message
     
    Who would have suspect Gold and Apple to be worthless? Me! Dig through my posts. I've been banging the table for a long time.

     

    Though I would not take on a new shorts on either here if you have not been short already.

     

    When anything becomes the "most popular" it quickly becomes the most hatted. People trade like people make and loose friends in High School. So shallow.
    17 Apr 2013, 02:21 PM Reply Like
  • nguyenvanphuoc
    , contributor
    Comments (366) | Send Message
     
    Yes, Apple is totally worthless, only worth $400 billion, with 1/3 of that value in cash. Also currently yielding almost 2.7%. But it's definitely going to be bankrupt in the next 3-6 months, that much is clear.
    17 Apr 2013, 02:38 PM Reply Like
  • Rummeljordan
    , contributor
    Comments (477) | Send Message
     
    Worthless as in an investment right now. My post below clarifies.

     

    Fundamentals are solid, extremely solid. She is just out of favor.

     

    Remember too though, most of their cash is overseas......
    17 Apr 2013, 02:49 PM Reply Like
  • jzivick
    , contributor
    Comments (92) | Send Message
     
    I think you nailed it exactly. It will take less than 6 months to see if there is some market manipulation going on. Let us all watch, learn and remember.
    17 Apr 2013, 03:25 PM Reply Like
  • monumentalgains
    , contributor
    Comments (220) | Send Message
     
    hated

     

    lose
    17 Apr 2013, 03:33 PM Reply Like
  • rrosey2
    , contributor
    Comments (685) | Send Message
     
    Loose friends indeed !
    17 Apr 2013, 06:04 PM Reply Like
  • Kboyd78
    , contributor
    Comments (151) | Send Message
     
    I was being sarcastic. If you have apple you want to sell me at $300 and gold at $1100 ill be happy to send you my address. This is totally market emotion. It takes one catalyst and apple is skyrocketing.
    17 Apr 2013, 06:39 PM Reply Like
  • nickcorn
    , contributor
    Comments (17) | Send Message
     
    Good call
    17 Apr 2013, 11:08 PM Reply Like
  • nickcorn
    , contributor
    Comments (17) | Send Message
     
    Unbelievable comment. How wrong you are.
    17 Apr 2013, 11:10 PM Reply Like
  • SoldHigh
    , contributor
    Comments (995) | Send Message
     
    As I've been saying all the way down, "AAPL lower." AAPL permabulls continue to ignore the reality that this is no longer a growth play. "You can ignore reality, but you can't ignore the consequences of ignoring reality."

     

    At some point, AAPL will probably become a value play. Wait for all the heard-mentality analysts who hyped it in 500s, 600s, 700s to start downgrading it in 300s.
    17 Apr 2013, 02:02 PM Reply Like
  • Aristotle2k
    , contributor
    Comments (180) | Send Message
     
    I really don't feel bad for the APPL investors anymore; writings been on the wall for quite some time. It's what happens when you invest with your heart only.

     

    People think because they use APPL products that it falls into the "Buy what you know" but miss the clear signs that they don't really know as much as they thought, brazenly dismissing competitive pressures.
    17 Apr 2013, 02:08 PM Reply Like
  • MAdeelA
    , contributor
    Comments (62) | Send Message
     
    Well said. However, you simply cannot underestimate a company with a history of ground breaking products and a mountain of cash either.
    17 Apr 2013, 02:12 PM Reply Like
  • criticalbear
    , contributor
    Comments (81) | Send Message
     
    Nobody really invested with their hearts. they've been saying the fundamentals are strong, and they still are. I can't blame investors who don't vote with the trend.
    17 Apr 2013, 02:14 PM Reply Like
  • SP5524
    , contributor
    Comments (83) | Send Message
     
    Feel bad for the dumb money that bought FB not AAPL. Plenty of people are getting burned by what is considered a sound and measured investment but the crooks and manipulators on Wall Street are playing with the price despite NOTHING to suggest the company is having problems. But what else is new.
    17 Apr 2013, 02:19 PM Reply Like
  • Rummeljordan
    , contributor
    Comments (477) | Send Message
     
    Fundamentals are solid, extremely solid. She is just out of favor.
    17 Apr 2013, 02:22 PM Reply Like
  • Aristotle2k
    , contributor
    Comments (180) | Send Message
     
    Fundamentals only go so far; there have been clear signs of trouble not related to their *current* business but their future.

     

    Maybe im a bit more savvy with tech since It's my profession; but there were very clear signs they were losing their stranglehold on the competition.
    17 Apr 2013, 02:33 PM Reply Like
  • cn_habs
    , contributor
    Comments (211) | Send Message
     
    Apple's products still look well designed and fashionable but it lost its innovation when Jobs left this world.
    17 Apr 2013, 02:58 PM Reply Like
  • Doyle3000
    , contributor
    Comments (1255) | Send Message
     
    this is not the time to sell, AAPL is one of the best run and most profitable companies in the world. And it pays a nice dividend. Tim Cook said in front of the nation on 60 Minutes, " it's silly to take one fact and deduce what is going on". We are seeing silly today.

     

    This is the definition of 'fearful' and this is when you need to be 'greedy'. It feels counterintuitive in the present, but boy listen to everyone say "OMG I should have pulled the trigger at $398 on AAPL, what was I thinking?"
    17 Apr 2013, 03:22 PM Reply Like
  • Mohamed Abdirahman
    , contributor
    Comments (106) | Send Message
     
    Well I thought people were fearful 3 months ago, I wonder if it paid to be greedy since then? If not when are you going to stop being greedy and avoid catching a falling knife?

     

    The warning signs were there since last October, remember this article on SA? - http://bit.ly/113IidD

     

    It seems that ever since the peak, Apple bulls were making up excuse after excuse. First it was bad press, then tax selling, then the 13/14 week issue, ..... Right now the excuses seems to alternate between bad analysts, manipulative hedge funds and of course 'fearful' market.

     

    I wonder when the excuses are going to stop?
    17 Apr 2013, 05:24 PM Reply Like
  • Don W Right
    , contributor
    Comments (25) | Send Message
     
    Agree with you. APPL needs CVO, or what I like to call "Chief Visionary Officer and not the excuses.
    Sold my AAPL@635 on October 15 per this signal: http://tinyurl.com/c3j...
    18 Apr 2013, 03:13 AM Reply Like
  • cshoxie
    , contributor
    Comments (251) | Send Message
     
    So, on the 23rd, Cook announces a dividend and stock buyback as well as upgrades to the IPhone and IPad. He also hints at a cheaper and larger phone. The stock soars 10%. Now we're back to where we were 2 weeks ago. The cycle starts again.
    17 Apr 2013, 03:33 PM Reply Like
  • jamesingram32
    , contributor
    Comments (541) | Send Message
     
    unfortunately I'm long AAPL. I expect TC to announce nothing on the 23th, except that he is excited, honoured, proud etc I think they put a more powerful chip in the iMAC? However, they will move into a donought in a few years time. ...hurrah
    18 Apr 2013, 06:49 PM Reply Like
  • IncomeYield
    , contributor
    Comments (1446) | Send Message
     
    The reason why Buffett stays away from this sort of stuff. Not investable, highly tradable though.
    17 Apr 2013, 03:57 PM Reply Like
  • six-oh
    , contributor
    Comments (549) | Send Message
     
    The price breaking below 400 is a buy signal. The bearish sentiment for AAPL is now awesomely high... I bought more AAPL today at 402. My cost basis is now is about $412. I am going to keep averaging down if we see lower price action. I maintain my predictino that AAPL will be testing 500 by year's end. I'll take the 20% appreciation and the dividend (which is likely to be increased).
    17 Apr 2013, 04:18 PM Reply Like
  • billybob84
    , contributor
    Comments (4) | Send Message
     
    Bears trying to explain the price drop without any data to back it up is hilarious...lets see what is right on 4/23
    17 Apr 2013, 04:22 PM Reply Like
  • CAIKEN1
    , contributor
    Comments (49) | Send Message
     
    When you do the math and work China and India into the AAPL mix, it is extremely likely that the stock is the best buy on the market today, and I mean today.
    17 Apr 2013, 04:31 PM Reply Like
  • info@fabriintimo.com
    , contributor
    Comment (1) | Send Message
     
    I've been holding Apple for over 2 years (yes, watched $700+ come and go) and still cannot believe the current price and, especially to keep hearing that the company has lost it's direction with some idiots even saying it will be the next Palm or RIM! One has to believe that the worst scenario has been priced in at $400.
    Really not pleased with the lack of attention being given by Cook to help it's shareholders (buying back shares and increasing dividends + stock splitting)
    Raven
    17 Apr 2013, 04:32 PM Reply Like
  • rrosey2
    , contributor
    Comments (685) | Send Message
     
    Sell on the bad news rumor, buy on the news
    17 Apr 2013, 06:09 PM Reply Like
  • STDvooh
    , contributor
    Comments (641) | Send Message
     
    I'd like to thank all the AAPL bears for this wonderful buying opportunity. Long AAPL forever!
    17 Apr 2013, 04:32 PM Reply Like
  • cinci45208
    , contributor
    Comments (3) | Send Message
     
    I agree with most of whats written here, AAPL is a great stock but no reason to buy it now. I will wait till it has the momentum again. But AAPL at 398 is absurd!
    17 Apr 2013, 04:32 PM Reply Like
  • Vegas Ben
    , contributor
    Comments (216) | Send Message
     
    What method will you use to determine that it has momentum again?
    17 Apr 2013, 04:44 PM Reply Like
  • Upyourassets
    , contributor
    Comments (267) | Send Message
     
    Too hard to guess the bottom. I am a buyer at these levels. If it goes to 350 as some suggest I may sell a kidney to get more (just kidding--I like my kidneys).
    17 Apr 2013, 06:11 PM Reply Like
  • ujvar
    , contributor
    Comments (92) | Send Message
     
    Apple will tell us shortly that it has got more power than the analysts.
    17 Apr 2013, 04:32 PM Reply Like
  • yardley hank
    , contributor
    Comments (10) | Send Message
     
    Let's see: 125,000 put contracts were traded today between the $400 strike and the $375 strike, all expiring Friday. The open interest today was 46,000 contracts. Could it be that the "trade" is still trying to break Apple - maybe looking for major fund stop-looses below 395?

     

    When the trade goes after a stock it has nothing to do with anything.
    17 Apr 2013, 05:06 PM Reply Like
  • ujvar
    , contributor
    Comments (92) | Send Message
     
    Apple will Show us ist force, bigger than Analysts.
    17 Apr 2013, 06:38 PM Reply Like
  • cinci45208
    , contributor
    Comments (3) | Send Message
     
    AAPL is a great stock, but why buy it here, its going lower!
    17 Apr 2013, 06:38 PM Reply Like
  • cinci45208
    , contributor
    Comments (3) | Send Message
     
    Apple is a greta stock, but why buy it here? Wait till it hits 350!
    17 Apr 2013, 06:38 PM Reply Like
  • fmlizard
    , contributor
    Comments (8) | Send Message
     
    I'm a fairly new investor, but has there ever been a company in the modern history of business that has had a market cap less than 2x of its pure cash on hand? Pure cash.

     

    Oh, and said company isn't in a doomed business. They lead the charge in some of the biggest growth industries out there. Weird stuff.
    17 Apr 2013, 06:39 PM Reply Like
  • Mohamed Abdirahman
    , contributor
    Comments (106) | Send Message
     
    "Pure" cash?? You mean some cash, short term investment and the largest chunk of their "cash" invested in low yielding long term assets...I am not sure if that can be counted as "pure" cash.
    17 Apr 2013, 06:50 PM Reply Like
  • Aristotle2k
    , contributor
    Comments (180) | Send Message
     
    What charge is apple leading today? I'm genuinely curious.
    18 Apr 2013, 08:31 AM Reply Like
  • nickcorn
    , contributor
    Comments (17) | Send Message
     
    All sellers and no buyers during this cycle. Great company and products . Will leadership bring new highs? To soon to tell.
    19 Apr 2013, 10:22 AM Reply Like
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