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AAPL hits 52-week low, cries itself to sleep

by Robert Palmer Nov 20th 2008 at 9:46PM

Apple shares today dropped to an intra-day 52-week low of a penny over $75, and rebounded to close at $80.49 per share. That was down 5.8 points from yesterday's close.

This marks the lowest prices for Apple stock since the introduction of the iPhone in early 2007. Many stocks lost ground today in a broad market selloff that saw the Dow Jones Industrial Average down nearly 445 points.

Marketwatch.com's Rex Crum says that AAPL has lost "the iPhone premium": That is, whatever gains the company made since the introduction of the popular handset. Apple shares hit a peak of almost $203 per share late last year, but those days are long gone.

If there's a silver lining to this gray cloud, it's that now might be a good time to buy. Macworld Expo is coming in January. In years past, the stock price has risen in anticipation of product announcements at the expo, leading to a selling frenzy the day of the keynote.

Of course, past performance does not necessarily indicate future results. In this market, who knows?



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Apple shares today dropped to an intra-day 52-week low of a penny over $75, and rebounded to close at $80.49 per share. That was down 5.8...
 

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balls

It should be noted that

"%s has hit a 52wk low"

Because everything is down.

November 21 2008 at 12:54 PM Report abuse rate up rate down Reply
Olligarski

@Robert Palmer: "past performance does not necessarily indicate future results"

Actually, past performance does indeed indicate future results. Most prominent technical analyser was of course W D Gann.

November 21 2008 at 8:00 AM Report abuse rate up rate down Reply
Mike Scherer

So there it is again: stock price has absolutely nothing to do with company performance. It's all just speculation and manipulation. What WOULD the world be that actually rewarded success and hard work? Oh, and desirable product

When will we fix this so-called capitalistic system? More like crapitolistic. Just try to argue that I'm wrong. HA! No evidence here!

November 21 2008 at 1:32 AM Report abuse rate up rate down Reply
1 reply to Mike Scherer's comment
Jeff Davis

Apple "fundamentals" may be sound the decline in the stock price is related to the companies performance. Product quality and innovation aside, if Americans are cutting back on spending particularly on non-essential items (i.e. computers, phones, ipods, software) then Apple will be hit. Yes, in the Apple myopia that exists on these boards, fans/devotees are defenders of the Jobsian world. Another expo or product launch may not be sufficient to push consumers to buy. The general population is worried about their jobs, paying for food, gas, utilities and not on the next WOW gadget. Lastly, the comment about Macs being omnipresent at college campuses is funny given that this has been the case for many years even in the 90s. Apple's student discount drives the usage. The unfortunate thing is prior college students once out of college then switch to enterprise computers (i.e the evil pc).

If you have the money and can invest then it may be a buying opportunity but with every buy comes risk. I for one would wait for a price under $65 to buy while keeping an eye on the overall economy.

November 21 2008 at 8:02 AM Report abuse rate up rate down Reply
ubn2

wtf? isnt apple doing like really well with no debt? even gaining market share? so it seems like a good idea to invest...right? so why is apple doing so bad in the stock market?

November 21 2008 at 12:20 AM Report abuse rate up rate down Reply
Howie Isaacks

"Cries itself to sleep"????

What kind of stupid ass thing to say is that?

November 21 2008 at 12:14 AM Report abuse rate up rate down Reply
1 reply to Howie Isaacks's comment
Robert Palmer

Must ... resist ... emo ... picture ... joke ...

November 21 2008 at 1:44 AM Report abuse rate up rate down Reply
Aaron Davies

oh come on, the market as a whole is back to where it was eleven years ago (literally, check the Dow for October 97). AAPL, split adjusted, is *sixty-four* times what it was then--that's over 6000% gain (while the Dow is now flat for the same period). me, i have AAPL at (adjusted) $35.30, so i'm going to be hanging on for the long term. (which is not so say i don't wish i'd sold on 2008-01-02....)

November 21 2008 at 12:02 AM Report abuse rate up rate down Reply
Gee-Zee

Turns those machines back on! Those high priced systems aren't looking great now...

November 20 2008 at 11:42 PM Report abuse rate up rate down Reply
fishbert

As painful as it is for my portfolio, AAPL only mirrored the Dow today. Nothing special.

November 20 2008 at 11:01 PM Report abuse rate up rate down Reply
Caleb Hermann

I don't know anything about the advantages of having a company with stock holders but could apple be trying to lower it's stock prices, by not releasing anything that people are excited about so that the company can eventually with there cash reserves buy back there company and if a economic crysis occurs then they will not die with the rest of the market?

November 20 2008 at 10:40 PM Report abuse rate up rate down Reply
1 reply to Caleb Hermann's comment
Doug

if an economic crisis occurs? you are riding in the eye of the storm my friend...the good news for apple is they are sitting on, I think, $24 billion in cash. That will buy you a lot of time in a well-run company.

I would not recommend the stock here though, not because of apple, but the global economic situation. everyone said it was cheap at $100 and at $90. and it keeps going down. I would want to see something of a bottom develop before entering this market. I thought 8000 was the floor, but the floor might be the floor. These are no ordinary times.

November 21 2008 at 1:11 AM Report abuse rate up rate down Reply
Rboyett

No, don't buy. Not yet.

This isn't over. Apple is a damn good company that is particularly well run. It has outstanding fundamentals. However, this fall isn't over. Apple's stock is simply the victim of the panic on wall street.

I'm not yet sure when I would buy in, but I most certainly will. Just not yet..

November 20 2008 at 10:39 PM Report abuse rate up rate down Reply
1 reply to Rboyett's comment
Tony

Actually, it IS a good time to buy...just don't buy all your shares at once. Buy in small increments to average in your price.

November 21 2008 at 12:11 PM Report abuse rate up rate down Reply
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