$AAPL Continues Sell-Off, ExxonMobil Passes Apple

| Apple Stock Watch

Shares in Apple Inc. continued to sell off on Friday, shedding another 2.36 percent to end the week at US$439.88, down $10.62 on heavy volume of 42.3 million shares trading hands. The move results in Apple's market cap falling below ExxonMobil's for the first time since the spring of 2012.

This year-long chart tells the story:

$AAPL vs. $XOM

$AAPL v. $XOM - 1-Year Chart
Source: Yahoo! Finance

ExxonMobil has largely held slow and steady—think: oil tanker—while Apple rose, rose some more, fell, rose, rose some more, rose a lot, fell, then plummeted off a cliff in the last two days.

There's no real meaning to this contest other than bragging rights. ExxonMobil was the world's most valuable corporation for many years before losing the crown to Apple last year.

At the same time, Apple's stock is more volatile and could retake the #1 spot as investors digest the company's new guidance strategy and releases the next round of products.

Shares of XOM closed at $91.73, a gain of $0.380 (+0.42 percent), on light volume of 10.8 million shares trading hands.

*In the interest of full disclosure, the author holds a tiny, almost insignificant share in AAPL stock that was not an influence in the creation of this article.

Comments

Bosco (Brad Hutchings)

Wow. Remember that “crazy” analyst who set his target at $420. What was that, like two months ago? Even I thought that was nucking futs. Right now, I think we’re all in shock about this. In a week or so, the reality should set in, and you guys will all come around to thinking that the Cookie Administration needs to crumble. I’m here for you with a warm hug and a hot cup of cocoa for when you come to terms with this.

CudaBoy

It’s karma. And, a korrection.This is my take. You can’t charge top dollar, generally twice as much as the competition alienating the common man along the way while releasing tiny little upgrades seemingly twice every 18 months at the same top dollar for 3 devices that haven’t changed that much from jump. The competition quite frankly has superior hardware, looks, and design in many ways (not hamstrung by Apple’s “old”  tired design cues) and the software is improving every day and this for much less hard earned dough than Apple charges. The numbers, stock trend and news media seem to back this up. The stock is a correction, IMO. Nobody bitched when Apple was flying high at last March’s price or even before that. The frenzy is over and now sanity must prevail. I got lambasted by people here for me stating that Apple was blowing it by not being in the 7” tab mkt. So, Apple is too big n slow now, I get it. I hope they aren’t out of touch either - those darn kids rule this toy market you know. Now I will get killed for suggesting that Apple has to come into the low priced phone market or lose even more share to Android, I’m ready for the hate but I’m also ready for another I told you so, too. Al Gore is looking smart about now, ey?

RonMacGuy

http://finance.yahoo.com/q/bc?s=AAPL&t=5y&l=on&z=l&q=l&c=

OMFG. Look at that chart. So, my limit sell order offloads 40% of my stock in the high $600’s. And, I have a rare opportunity to buy back in within weeks at significantly lower price? Keep the hugs and cocoa, Bosco. I’m having steak and seafood!!

And where will you be when stock goes back up? Cowering once again. LMAO.

Bosco (Brad Hutchings)

Ron, you’re so full of beans. I thought you were buying when it was at $520-$540. Maybe post a record of your buys and sell Nostradumbass.

RonMacGuy

Wow, there goes that civility again.  Be nice, Bosco.  I didn’t personally insult you.

Actually, I bought some back at $550, and more back at $515 or so I think.  All I said was that within weeks I bought back in at a significantly lower price.  I have plenty of shares to deal with, and I dabble with some short-term trading, but mostly started buying Apple stock when I bought my first iPod and iMac in 2006/2007 timeframe.  The first could of years, I mostly bought, since I knew Apple would succeed.  And, given the trends (did you see the chart?) I didn’t have much opportunity to trade much.  I was all in when the market took the big dip in 2008 and missed the $200 to $80 drop in Apple.  Wish I saw that one coming, but I didn’t.  I’ve got absolutely no reason lie on TMO.  I know you have no respect for me, and i have negative respect for you, and lying to try to impress you would be a worthless endeavor.  If it matters, I never sell more than 40% of my Apple stock - So yes, if I had sold 100% of my stock at $685 I’d be a hell of a lot better off, but I still believe holding the majority of my sub-$100-purchased Apple stock makes the most sense.  I am not going to risk missing continued growth and a very nice quarterly dividend now.  And since this is all in my Roth account, I can’t touch it until retirement anyway.  So, laugh if you must, at Ron missing out on selling at $685.  I have no doubt Apple will get there again, and higher.

daemon

Wall Street isn’t the common man. It’s a reactionary hype machine. They tell themselves that a given stock is going to go up and it does, which leads to more hype surrounding that stock. Eventually it becomes a bubble, and bubbles don’t stop growing just because they’re a bubble. They don’t stop until there isn’t anyone left buying at a higher price. They burst when more people sell their position at loss than are willing to buy.

AAPL is a bubble. My target is $250, where it should hold steady.

AdamC

Isn’t it a pity every tech company is making a billion and quarter while Apple can hardly make $5B a quarter.

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