Apple Daily Stock Updates II

  • Posted: 05 June 2002 11:45 PM #16

    Please see Wednesday’s Apple Stock Watch Report for a recap of AAPL news and trading activity.

         
  • Posted: 06 June 2002 06:15 PM #17

    Apple closed down today 6/6 $.56 to finish at $22.16 in a nasty day on the Street. Intel dropped in after hours trading following an earnings warning for the quarter. Most likely Friday morning trading will find tech stocks challenged by Intel’s news in an already difficult market.

         
  • Posted: 07 June 2002 11:39 AM #18

    As The Apple Turns

    suggests selling all your Apple stock cause yet another exec is selling stock and they suggest that things are falling apart at Apple.

    Hmmm

         
  • Posted: 07 June 2002 08:11 PM #19

    One thing to remember: Stock options are a big part of executive compensation at Apple and other large companies. Further, when options are exercised and shares are sold, the company receives cash. The employee profits on the difference between the current market price and the exercise price.

    Several Apple executives have waited years for their shares to vest and for the share price to rise to a point where they have a profitable gain. The fact that many executives are registering to sell shares at the same time may mean that a series of options have recently vested and the share price has risen a bit above the exercise price.

    I don’t believe Apple is experiencing any more challenges than those faced by other high-tech companies in a difficult market. The company for the first time in years has a complete product line and is gradually growing market share.

    Apple has one of the strongest balance sheets in the business and currently has more cash and equivalents on hand than Dell. There is more than $12 in cash standing behind every share of Apple.

    The total number of shares registered for sale recently by several Apple executives represents less than one-half of one percent of the fully diluted share count on Apple’s balance sheet.

    Executives sell shares for different reasons such as home purchases, college educations for their children or even portfolio diversification. The executives at Apple have worked very hard over the past few years crafting one of the most storied corporate turnarounds of the past twenty years. The fact that several executives may be choosing to sell shares at the same time may appear a bit odd, but let’s look at it another way: If Apple hadn’t done well over the past few years none of these executives would be in a position to sell shares because there would be no money to be made on the transactions.

         
  • Posted: 07 June 2002 10:35 PM #20

    Apple closed today 6/7 down $.67 at $21.40. Friday was a very difficult trading day for tech stocks due to the Intel earnings warning. Please see Monday’s Apple Stock Watch report which will post on TMO about an hour after the market’s close for more information about today’s and Monday’s trading activity and a recap of the broader markets.

         
  • Posted: 08 June 2002 05:28 AM #21

    Thanks

    Thanks DT for a very thoughtful reply.

    I guess the bottom line is that I trust Steve Jobs.  His whole reputation and line in the history of computers would precipitate if Apple were tarnished by bad practices.

    I also believe Apple’s lineup is very strong, people are slowly losing tha MhZ myth and the penchant for Microsoft.

    By the way, OmniWeb is a great browser, with some neat human engineering touches, and is fast.

         
  • Posted: 10 June 2002 06:25 PM #22

    Please see the 6/10 Apple Stock Watch report for a recap of Monday’s trading.

         
  • Posted: 11 June 2002 09:11 PM #23

    On Tuesday the markets tumbled in afternoon trading. Apple closed Monday perilously close to the $20.00 per share marker, losing $1.02 to close at $20.46 on above-average volume. Please see Wednesday’s Apple Stock Watch Report which will post about an hour after the close of trading for a recap of Tuesday and Wednesday activity.

         
  • Posted: 13 June 2002 07:06 AM #24

    Please see the latest Apple Stock Watch Report for a recap of 6/12 trading activity.

         
  • Posted: 13 June 2002 03:12 PM #25

    Apple closed down today 6/13 $.55 to finish the day at $19.54. This is Apple’s first close below $20.00 per share since 11/23/01. The markets reacted to weaker than expected retail reports and continuing concerns about softness in the economy.

         
  • Posted: 13 June 2002 05:52 PM #26

    Quiet Period

    I assume the “quiet period” begins now, and thus Apple will meet expectations, at least generally.

    Does any one know if this is right?

    merci,
    Dr. L

         
  • Posted: 13 June 2002 09:51 PM #27

    Doc:

    I don’t have an immediate answer to your question. In my view the question isn’t about fiscal quarter three. Unless demand really fell off a cliff, it would be difficult for Apple not to meet its estimates. My concern is for quarter four. If consumers have indeed begun to pull back a bit on spending and the PC consumer market continues to be soft, it makes estimates for the next quarter more difficult. Remember, analysts build models for earnings based on future projections.

    If Apple misses its estimates (absent an announcement from Apple in the next few days) it won’t be by much. The question will be: What’s in store for future quarters? Even if Apple meets or even slightly exceeds its estimates, analysts will be more interested in future guidance than current earnings IMHO.

    As one analyst said this week “It’s a Perfect Storm for stocks, investors have the visibility of a brick.”

    Of course, if Apple blows away the estimates with a stellar quarter recording better than expected margins, higher sales and net profits than forecast, it will give analysts cause for pause and reasons to consider upgrades.

    In this economic climate and considering the continued softness in the PC market, it would be difficult for Apple to pull off that kind of “trifecta” performance in the current quarter.

    Robert

         
  • Posted: 14 June 2002 10:11 PM #28

    Apple closed up $.56 today 6/14 to finish at $20.10 on a day that the markets recorded their fourth straight weekly decline. Please see Monday’s   Apple Stock Watch Report which will post about an hour after the market’s close for a recap of Friday and Monday trading.

    Robert

         
  • Posted: 17 June 2002 05:51 PM #29

    Please see the 6/17 Apple Stock Watch Report for a recap of today’s trading.

    Robert

         
  • Posted: 17 June 2002 07:39 PM #30

    Quiet Period

    Doesn’t this essentially define the “quiet period” ?

    Intel intends to publish an earnings press release on July 16th, 2002, and hold a related analysts’ conference call (available for listening by webcast). From the close of business June 14th, 2002 until publication of the earnings press release, Intel will observe a “Quiet Period.” During the Quiet Period, the Outlook and other forward-looking statements contained in the Earnings Releases and Business Update press releases as well as in the company’s filings with the SEC on, e.g., Forms 10-K and 10-Q, should be considered to be historical, speaking as of prior to the Quiet Period only and not subject to update by the company. During the Quiet Period, Intel representatives will not comment concerning the Outlook or Intel’s financial results or expectations.