Apple drops under $600; is the moon ride over for investors?
posted by Alan F. / Oct 31, 2012, 11:00 AM
RCA caught the attention of investors before crashing in 1929 with all other shares. In the 1960's, color television was the buzz word along with automatic bowling pin-resetters. Companies like Sylvania and Brunswick soared and plunged. In the 1980's, Home Shopping Network made millionaires out of some investors, but subsequently ruined others. And who could forget the internet boom in the 1990's when so many stocks ran up sharply, only to drop just as fast when the bubble burst.
Of course, Apple has been making money and lots of it. But investors want to see growth expanding, not contracting. And since Wall Street is said to look ahead 6-9 months, Apple's shares could be warning us that times won't be so good for the company by next spring. Or, it could merely be some profit taking. With a stock that runs on momentum like Apple, all it takes is one person deciding to cash in to buy an Apple iPhone 5 to set off a chain reaction of sellers.
For what it's worth, back in April we told you how one analyst who uses the complicated Elliott Wave form of technical analysis was calling for the shares to drop to $510. If this does happen, we would call it the broken clock form of analysis because the stock soared over $100 points higher first. Remember, even a broken clock is right twice a day. For those bullish on the stock, the good news is that the shares have hit the 200 day moving average which often presents a short-term bottom and a buying opportunity for Wall Street players. The last time the 200 day line was touched was last December with the stock trading around $360.
Posts: 930; Member since: Dec 23, 2011
Just as I predicted... Get ready for a rough ride, Apple investors. Buckle up, because it's a looong way down.
posted on Oct 31, 2012, 11:06 AM 38
Posts: 243; Member since: Feb 25, 2012
Predicting that a stock will go down is like me predicting what I will have for lunch (Jelly sandwich and flaming hot cheetos every day).
posted on Oct 31, 2012, 11:19 AM 25
Posts: 3722; Member since: Aug 16, 2011
Just as you predicted. Wow, I wish we were all as brilliant as you. You're a fantastic financial analyst. You should get together with all the other Android fanboys on this site and start an investment firm.
posted on Oct 31, 2012, 11:53 AM 7
Posts: 1236; Member since: Sep 26, 2012
and its not on a slope...more like from the edge of a very straight cliff!
posted on Oct 31, 2012, 12:44 PM 4
Posts: 1236; Member since: Sep 26, 2012
that doesnt even mnake sense but ey how can i count on you to make any sense? However I'll repeat my question...you shhh a lot so where do you shhhh from - your mouth or your a$$? Reason for asking is cause I am pretty sure you laugh out of your a$$..since you use LMAO a lot...so where do you shhh from?
posted on Nov 01, 2012, 5:40 AM 0
Not exactly. Smart investors know that you buy into stock for the long term, not the day to day. This is obviously a reaction to firing of Forstall and Browett who head two extremely important areas in Apple. I'm an iSheep and even I am a little weary of how the change will effect things. Stock prices will go up and down. I have no clue how this will turn out, but I doubt this will be the beginning of the end. All stocks were mixed today and Apple isn't exempt from that.
posted on Oct 31, 2012, 1:20 PM 4
Trending decline, not up and down without pattern. Anyone with any statistics background can see that over a months worth of data shows it's in decline, not just fluctuating. It's clear as day in the graph above. Granted, anything can change, but even the Mini didn't help it get back to level or climbing status.
posted on Oct 31, 2012, 2:41 PM 1
You want to see them bankrupt? A lot of my friends have jobs with Apple...just because you have some immature hatred for a company, you want to see thousands of people that love what they do lose their jobs? Real mature bud...
posted on Nov 01, 2012, 1:04 PM 0
Posts: 6023; Member since: Dec 30, 2010
Gotta agree with this. See, told you there are times I agree with you....lol. Stocks rise n fall on a daily basis. Google hasnt in a long while and havent fell alot. But its the reason why I stopped trying to play the stock market. I did sell at the right time for Zynga tho....whew. I cant see Apple stock falling so far down that they are in trouble.
posted on Oct 31, 2012, 8:26 PM 0
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