MacDailyNews - Where Mac news comes first

Oct 07, 08 - 04:24 pm Comment from: Macintosh

Well, what do ya know... Me too!

All ready did. As of yesterday, I have lost 49% of the portfolio. So, today, I lost 53% from last years high that was mainly made owning Apple's stock.

I may take some off the table over the next few days. But, in the end, I will make it back. Wish I had not kept it as it dropped, but I know it will be back up again.

Actually, he's smart to mention it now. There's always a dip in share price after an Apple event, and if the October 14th rumor is true, the stock will dip until the 18th or so.

Oct 07, 08 - 04:47 pm Comment from: Cascadians

I think we may be entering the Mother Of All Depressions but I am planning to soon buy a tiny bit of Apple stock. They say stock should be viewed as gambling and only play money you wouldn't miss should be invested.

Apple makes awesome products which are a sheer exhilarating joy to use. It does not even matter that the crooksters are manipulating the market blatantly -- eventually Apple's ultra-worthy products will be King. Apple's goodness will outlast the corruption now teetering on the brink of the abyss.

Oct 07, 08 - 04:48 pm Comment from: Macintosh

@Rob,

I think he's more concerned about Apple's financial results on October 21.

I sold my Apple stock 9 months ago. In fact, I sold all of my stock 9 months ago. My broker at Smith Barney looked at me like I had 2 heads. I explained to him that the banking situation was for more disastrous than it was being touted and that I thought even healthy profitable companies would get drug down in the muck by it. He tried to get me to stay in. Glad I didn't listen. 15 years in banking paid off for me.

Oct 07, 08 - 04:53 pm Comment from: Crazylegs

Forget about fundamentals. No one will buy this stock ahead of a consumer driven slow down. Too many sellers out there that don't care about fundamentals to sit here and make an intelligent investment decision. If you are an "investor" I believe it's a very smart bet to buy anywhere in the 80s, 70s, 60s. Just keep scaling in and 2 to 3 years following your last purchase, you'll be happy. Remember that Apple has $21/share in cash, so you are only paying $68 for cash flow. They have already put up $6/share cash flow in the first 3 quarters of this year and who knows but I bet they put up another $1/share cash flow. So you are paying less than 10x true earnings for the year that ALREADY ended. If the company doesn't shrink or grow, this is still cheap, cheap, cheap.

Oct 07, 08 - 04:56 pm Comment from: Crazylegs

But it doesn't matter if hedge funds are liquidating because of redemptions and high water marks and the Joe Public is panicking and selling their mutual funds.

Oct 07, 08 - 05:12 pm Comment from: Jamie

how much is in Apple's warchest? Does anyone have a figure?

I'm glad they have that, I think they are pretty safe for now. Plus, how many people are gonna do overtime and sell kidneys on eBay to get the next amazing new product from Apple. That dude from Apple said they have new amazing products coming out this year, there's still nearly 3 months left in 2008, new MacBooks for the school year etc etc.

They were also wise keeping that cash mountain and not blowing it on buying up Sony and Adobe.

My $0.02

Oct 07, 08 - 05:13 pm Comment from: jarrettdailynews

Just had my sister sell her mutual funds today, yeppers, joined the panic we did..... good news is, now we are closer to a bottom than we were at 14,000.... ha ha hahahahahah

Oct 07, 08 - 05:14 pm Comment from: Macromancer

i feel like this thing is going to run under 80 and I'll be ready to pounce. In the meantime I'm putting all my money in a safe.

Oct 07, 08 - 05:21 pm Comment from: Randian

@Cascadians

"I think we may be entering the Mother Of All Depressions. . . ." If you truly believe what you have written here, you are an absolutely idiot to invest one more nickel in "paper." Better that you buy seed, toilet paper, and ammunition. Or are you just emoting?

Oct 07, 08 - 05:29 pm Comment from: bobchr

@ Jamie, I think it's up to $20 Billion.

Oct 07, 08 - 05:39 pm Comment from: Cascadians

I've never bought any stocks. I just believe in Apple and my life seems to go against trends, LOL Been a prepper since 1998 when Y2K changed my mindset. So even though I do believe it's insane, I will buy the smallest amount of Apple stock possible soon simply because I believe in Apple's worthiness.

Yeah, I bought a few more shares late last week, just above the $100 mark (brought down my average purchase price a little)

The Fools idea of the 14th makes perfect sense - there is a big announcement "Scheduled" for that day, and no matter how great it is the stock will drop...

The next purchase point will come at the earnings announcements.

Alec writes, "I sold my Apple stock 9 months ago. In fact, I sold all of my stock 9 months ago. My broker at Smith Barney looked at me like I had 2 heads."

When I met with my own broker a few months ago, I told him I'd been slowly thinning my holdings out of concern with how things were going. He started making faces. "What kind of strategy is that?", he asked. Unfortunately, I didn't have the advantage of 15 years in the banking business, so I still entered this meltdown with (for me) substantial holdings which, sadly, are no longer so substantial.

I, too, am looking to pick up more AAPL once I sense we're nearing the floor. But it's scary to realize the market is near where it was immediately after the 9/11 attacks.

Oct 07, 08 - 06:16 pm Comment from: KingMel

@Jamie
"They were also wise keeping that cash mountain and not blowing it on buying up Sony and Adobe."

I agree that they would have paid too much at the time, and I was not in favor of it. But with the recent stock declines, Apple's deep cash pockets could translate into major buying opportunities (not limited to Sony or Adobe). That is a great position to be in.

Ya gotta have cash (or credit but nobody can find that now) to run a business. It takes cash to enter new markets or invest in lowering your costs. Maybe this would be a good time for Apple to buy back some stock.

Anyway you look at it, forget the products, that amazing balance sheet may be their best strategic advantage for the next couple of years.

INSANE. The market is tanking and you want to buy? Moron. Growth stocks often correct 70% or more from their peeks once they roll over. That dog, AAPL, hasn't been above it's 200 DMA since early September. Hey, I love the company and the products too but don't be a sucker. Buy on strength. Remember, a few months ago when all the market wizards were tellings us to buy financials???

Think about it. Things will get better eventually.

If you truly believe what you have written here, you are an absolutely idiot to invest one more nickel in "paper." Better that you buy seed, toilet paper, and ammunition.

If you truly believe what YOU have written, buy your limit's worth of AAPL on margin.

Or are you just emoting?

I think we may be entering the Mother Of All Depressions

(They) make() awesome products which are a sheer exhilarating joy to use.

(Their) ultra-worthy products will be King. (Their) goodness will outlast the corruption now teetering on the brink of the abyss

Are we talking 2000's Apple or 1930's Duesenberg?

I need more money to buy MORE before this sale is off!

Remember, a few months ago when all the market wizards were tellings us to buy financials

Do the exact opposite of whatever the experts and headlines say to do.

Ya' know what a '30s Duesenberg is worth today!

Oct 07, 08 - 08:01 pm Comment from: Macintosh

Here's a classic for you:

"When others are fearful be greedy and when others are greedy be fearful." - Warren Buffet

This is a ploy to stop the bleeding. It will stop when it stops!

Apple's $21 billion cash holdings is looking like a pretty smart strategy at this point. They'll easily make it though this. Many criticized them for having this much cash.

I am buying right now, and will continue to do it. If you can, do it. Apple will be huge. Just buy and wait.

See: a crisis is a crisis, period.
Absolutelly every single share is an hazardous matter these days. Some want to turn to get hard cash only... But, there is a but... The actual (relatively) high value of the US $ is nothing but artificial. Almost all the banks of the world force themselves to buy american treasury bonds in spite of the catastrophic foreign depts of that country. It's a dangerous game, because the US $ is sold 3 times the value it could justify... So what's the solution? Maybe going back to gold and silver in bar...

Oct 08, 08 - 05:24 am Comment from: Wingsy

I bought a block at 109 several days ago and another at 93 yesterday. If it goes to 80 I'll bust open the piggy bank and get some more. Like all other depressions/recessions, this one too will end.

off topic, but i am a little bit concerned that there is no official invite to an apple event on oct. 14th. shouldn'n it be here by now?

@Jersey_Trader

I did the same thing. Dollar cost average on the down side. AAPL's fundamentals are too strong especially compared to their peerss.

iPhone's delayed revenues are huge and I don't believe have been taken into account by most of these analysts.

I know not how the markets work, but say a companys stock drops to $0, does that mean they are officialy belly up bankrupt? Or is that when they crack open the war chest?

mw = military - nice one

$hit that I just don´t have ca$h right now. This sale would be a nice oppurtunity to buy more aapl. Now I do have 7800 pieces of Apple. Most of those I bough before the split, when the stock was just under $14. (invested some $60000 and currency rates apply)

EVEN APPLE CAN'T WEATHER A POST REAL ESTATE BUBBLE RECESSION!

You were warned many many months ago to take your profits.

Now you just have to cry.

Numerous reports show that people are only buying the necessities, not fancy over priced Apple hardware.

Heck, I may even build my own PC now.

Oct 08, 08 - 01:03 pm Comment from: DLMeyer

When the stock hits $0, that means the STOCK is worthless. Says nothing at all about the company! Except that I'll own a much larger slice of it as I bought more shares as it entered the single digits.
About the "Real Estate Bubble Recession" ... that was just the first crack. This recession is more about the collapse brought on by the loss of stability that crack caused in the junk loans floated by greedy lenders. Related? Sure! But the same thing? Not quite. The Real Estate bubble was caused by over-enthusiastic purchasing. This current collapse was caused by bad-faith lending practices. Two sides of the same coin, but DIFFERENT sides. So, Raver, you go build your own PC. Can't think of anyone more deserving.

"When the stock hits $0, that means the STOCK is worthless. "

But because the stock is an ownership interest in the company it means at $0 that no-one anywhere will give you any money to own the entire company.

That meets the entire company meets the generally accepted definition of WORTHLESS.

Usually well before then the company will have been delisted from major exchanges and if it had any real value would be acquired by someone trying to save it or someone who would tear it apart for any value it contained.

So, practically should a stock hit $0, the company is worthless.