Apple Stock Continues Drop as Market Opens

| Apple Stock Watch

Within an hour of trading opening on Tuesday, Apple Inc.’s stock continued the fall it experienced in pre-market activity, dropping another US$13.98, or 4.01%, to $334.50. Bloomberg quoted Greg Taylor, a money manager at Aurion Capital Management in Toronto, as saying: “If you’re a holder, you’re probably starting to think, ‘Maybe I should take some money off the table.’ Maybe the risk-reward is more slightly skewed to the downside.”

Chief Operating Officer Tim Cook is taking over day-to-day operations from CEO Steve Jobs, the same arrangement that transpired when Mr. Jobs took a leave of absence for a liver transplant in 2009. Bloomberg said that an anonymous source of theirs noted Mr. Jobs has been unable to keep on weight after the liver transplant and has been more susceptible to illness because of weak health. That led to an erratic work schedule, according to another source, a manager at a company that does business with Apple.

Bloomberg quoted Piper Jaffray analyst Gene Munster as saying: “If you bought the stock on a pullback over Steve Jobs’s health in the past, you made money. The history is that when Steve Jobs goes on leave, it’s a great buying opportunity.”

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Comments

geoduck

That led to an erratic work schedule,

Meaning that Cook has already been doing the day to day operations for some time. Apple is where it is because of Cook’s steady hand as much as it is due to SJ’s brilliance.

Intruder

You only lose if you sell. It will come back, just like it did the last two times.

prl53

The people who will gain today are the brokers since they make money on every transaction. Just leave it and wait for the financials this afternoon and be happy Apple is selling a ton of product.

Tiger

BUY!!!!!!!!!!!!!!!

Lee Dronick

To make matters worse according to the chattering class AAPL is “dragging down” the NASDAQ.

Tiger

The fortune tide is turning. The drop in stock is minimizing, and when the quarterly results come in, I think it will be completely negated.

Lee Dronick

The fortune tide is turning. The drop in stock is minimizing, and when the quarterly results come in, I think it will be completely negated.

Yup, AAPL is rising and is also dragging up the NASDAQ.

jfbiii

For today, anyway; they’re at -2% right now. The next month will probably bring some bitching and moaning, but it’s really difficult to argue with results.

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