AAPL Takes a Roller Coaster Ride, Drops Below $168
AAPL Takes a Roller Coaster Ride, Drops Below $168
by , 1:25 PM EST, November 8th, 2007
Earlier this week, Apple's stock hit US$191.79. Thursday, however, was a different story as the company's stock shot up and down -- and at one point dipped down to $167.99.
Apple started Thursday at 186.62 after closing on Wednesday at $186.30. At one point during Thursday trading, the company's stock dropped as much as $18.30 before climbing back above $170.
The Mac and iPod maker's market cap took a hit, too. On Wednesday, Apple was sitting at $167.30 billion, but today that number is down some 18.57 billion to $148.73 billion. In comparison, Intel's market cap currently is $149.27, IBM is at $144.01 billion, and Dell is $62.87 billion. All are down compared to their position on Wendesday.
Apple is currently trading at $$170.50, down 15.80 (8.84%).
If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.
Observer Comments
AAPL might bounce up a bit still, but I'd expect a fair bit of profit-taking while the sub-prime mortgage situation is unravelling. With the rest of the market trending downward, I think Apple's value is going to drop, if less so than the rest of the market. The economic situation may actually play to Apple's benefit as the weakening American dollar makes Apple products more competitive in Canada and Europe.
QuoteKitsuneStudios wrote:
AAPL might bounce up a bit still, but I'd expect a fair bit of profit-taking while the sub-prime mortgage situation is unravelling. With the rest of the market trending downward, I think Apple's value is going to drop, if less so than the rest of the market. The economic situation may actually play to Apple's benefit as the weakening American dollar makes Apple products more competitive in Canada and Europe.
Apple dropped more than the market: - 5.8% vs about -2% for the NASDAQ, -0.3% for the DJI and <-.1% for the S&P.
It's not just the "Big Boys" who do it. I placed instructions to sell a lot of my AAPL stock when it hit $189.5 and to use all of that money to buy if it dropped to $170. Sixth time I've done that this year, made enough profit to cover rent and living expenses for the next three years easy. It may not be in the millions, but it's still a significant chunk of my income.
Nope. With the buy/sell/buy I've ended up with more shares total, all at a higher price than when I've bought them. I've kept track of things for almost a year, to settle a bet with a friend (and to show him you don't need a few million to make investments). By setting instructions to buy, sell, then buy back I made 20.1% more than if I had just left it all there. Of course, this is just Apple, the other two stocks I do this on only got 13.6% and 11.4% more doing this.
QuoteAnonymous wrote:
If you had simply held that initial buy, you probably would have made even more ('on paper.' at least)...
Not so. Consider this:
1. Buy 10 shares at $100 for $1000.
2. Sell the 10 shares for $150, getting $1500.
3. When the stock falls to $125, buy 12 shares.
4. If the stock goes to $175, your stock is now worth $2100, vs $1750 if you had just held on to the original 10 shares.
The fallacy comes from 1) not realizing that he bought MORE shares than he had and 2) thinking that these were the SAME shares. They could just as well been shares in another company. Consider this:
1. Buy 10 shares of A at $100 for $1000.
2. Sell those 10 shares of A FOR $150, getting $1500.
3. Use the $1500 to buy 12 shares of B at $125.
4. Assume A and B both go up to $175. If you had held on to A, it would be worth $1750. However, by selling A and buying B, your stock is worth $2100.
This is just what "day traders" do, only they do it in a matter of hours, even minutes.
Comments are currently closed. Please email the author instead.
Recent Headlines - Updated March 20th
- Fri, 5:55 PM
- Games - Namco Releases Match-Three Game Tinseltown Dreams to the App Store
- 5:16 PM
- News - iPad Launch Day Deadline for Developers: March 27
- 5:11 PM
- News - Steve Jobs Helps Promote Organ Donor Legislation
- 4:06 PM
- iPad - VIVmag Shows Off Interactive iPad Version in the Works
- 3:07 PM
- App Store - Microsoft Yanks Bing App From Foreign App Stores
- 2:05 PM
- iObserver - Analysts Downgrade Troubled Palm Amid Severe Revenue Drop
- 1:35 PM
- In-Depth Review - PhoneSuite MiLi Packs a Powerful Punch
- 1:11 PM
- News - YouTube to Viacom: Sue Yourself
- 11:34 AM
- Product News - PocketMac for BlackBerry 5 Improves Snow Leopard Support
- 10:59 AM
- News - Apple iGroups Patent Hints at Social Networking Plans
- 10:20 AM
- Hot Forum Topic - Reader Discussion: Who Will Buy Palm?
- 9:50 AM
- News - Bharti Airtel Lands India iPhone 3GS Deal
The Mac Observer Reader Specials
- TypeStyler For Mac OS X is Now Shipping! Download The Free Fully Functional 60 Day Tryout at www.typestyler.com
Mac Memory and Hard Drives: MacBook Pro Memory 8GB kits $349.99! iMac Memory 4GB DDR Kits for $109.99! Mac Pro Memory 4GB Kits for $135.99! Mac Hard Drives 1.5TB Seagate SATA II for $147.99! Click Here!
- CarMD Handheld Device & Mac/PC Software System saves you time and money on car maintenance and repair. Buy at www.CarMD.com! Save $10 with code TMO2.
If you're using a Mac, then you've gotta check out Full Tilt Poker for Mac. This Full Tilt Poker bonus code does the unthinkable, it actually rewards!For the latest Apple products use Ciao, a price comparison website, to find laptops like MacBook Air. Then find the best prices on MP3 players and use our comparison tool to evaluate mobile phones like the Apple iPhone.

