Apple slips on overblown iPhone remark; iPod ramp in September?

***AppleInsider*** · 07-31-2007, 01:27 PM

Shares of Apple Inc. took a substantial hit Tuesday morning after an unofficial analyst comment on iPhone production was blown out of proportion during a swift game of Wall Street telephone tag. Meanwhile, an overseas report claims Apple plans to ramp production of a new iPhone model this September.

Apple skids on one-off analyst comment

Apple shares slipped more than $5.00 or 3.5 percent in early morning trading on the Nasdaq stock market after TheStreet.com reported on a research note from Miller Tabak which allegedly asserted that Apple was reducing its production of iPhones from "9 million units to 4.5 million units.”

However, Miller Tabak analyst Peter Boockvar later told AppleInsider that his firm authored no such note on Apple. Instead, he said, gossip was passed along*during a conversation and was subsequently overblown.

"Disregard it. There's no note on Apple today," Boockvar said. "It's pure noise."

iPod ramp in September

Taiwan-based Compeq Manufacturing will start producing rigid-flex printed circuit boards (PCBs) for a new line of Apple iPods due for production ramp in the September time frame, according to DigiTimes.

Rigid-flex circuit boards use a combination of flexible and rigid substrates laminated into a single package, presenting a 3D interconnect that can be bent, folded, and mutilated into a higher performing PCB. The technology allows electronics designers to replace multiple PCBs interconnected with connectors, wires and ribbon cables with a single package offering improved performance and reliability.

Additionally, Compeq is said to have received validation for high density interconnect (HDI) and rigid-flex PCBs for handheld models that will become part of Apple's iPhone series.

While DigiTimes offered no additional details on the iPhone model, it cited industry sources in saying iPod production would begin in small volumes this August, with shipments ramping up in September.

[ View this article at AppleInsider.com ]

trevorlsciact · 07-31-2007, 01:45 PM

Stupid analysts.

Ireland · 07-31-2007, 01:46 PM

How high is the ramp?

Idle · 07-31-2007, 01:48 PM

Stupid knee-jerk "investors."

city · 07-31-2007, 01:59 PM

Quote:

Originally Posted by Idle

Stupid knee-jerk "investors."

You say "stupid", but taking your profit may be smart.

Wally · 07-31-2007, 02:00 PM

So does this mean a Libel suit: Apple vs. TheStreet?

Someone cook these a**holes please.

StuBeck · 07-31-2007, 02:01 PM

They didn't say anything, so a libel suit is in order? No, not at all.

gumguy · 07-31-2007, 02:02 PM

Yea, thanks for the "noise" and I hoped someone gets fired!!

jamezog · 07-31-2007, 02:02 PM

Today's a day to buy some AAPL...

jamezog · 07-31-2007, 02:04 PM

Quote:

Originally Posted by Ireland

How high is the ramp?

I imagine it's at least this high:

roehlstation · 07-31-2007, 02:05 PM

Eminem should sue.

madeincupertino · 07-31-2007, 02:21 PM

apple is very close to its all time high (reached about a week ago).

of course this was all due to a flurry of iphone hype.

the iphone is here. it looks like the sales have started to trail off (this is what could be inferred from Verizon's conferrence call about losing customers to AT&T).

the iphone being a huge success is already priced (in my opinion overpriced) into apple's stock.

i see a major lack of news between now and the fall (when apple should begin to pick up due to seasonal sales up swing)... sure new imacs (overall, desktops are only 1/4 of apple's sales) and new ipods (which are rumored not to be widescreens ala the iphone)... i dunno i don't see any real surprises pumping up the stock.

of course there is the continued growth story about apple selling more computers but this is already priced into the stock.

are you sure you want to buy apple now?

mstone · 07-31-2007, 02:22 PM

TheStreet.com

Kramer up to his old tricks again?

Buy on dip (sh*t).

m

bobmarksdale · 07-31-2007, 02:27 PM

Quote:

Originally Posted by Wally

So does this mean a Libel suit: Apple vs. TheStreet?

Someone cook these a**holes please.

Don't you mean slander?

Slander=spoken
Libel=written

But I agree with your point though.

Frank777 · 07-31-2007, 02:30 PM

Quote:

Originally Posted by roehlstation

Eminem should sue.

anantksundaram · 07-31-2007, 03:21 PM

This is just the kind of thing that the SEC typically checks up on, to make sure that no one from thestreet.com was profiting from this kind of a price move. I have little doubt that they have a bunch of their folks sniffing around on this one, and that this is probably not the last we will hear of it.......

But the skittishness/nervousness on Apple is the larger story here: As I have said before, this is the kind of volatility that we simply have to learn to live with in the new, post-iPhone world until the dust settles somewhat on what this new product means for AAPL's cash flows in the future.

Maestro64 · 07-31-2007, 03:29 PM

These analysts are putting out FUD so to take opportunites to pull the stock back so they can convince their investors to buy. This is not the first time this has happen, other analysts in the past who no one ever heard of in the past all of a suddent comes out with news that no one else has and the stock falls and you never hear from them again.

Think of it, cut iphone from 9 to 4.5 million over what period, come on apple stated 10 million in 18 months, why would they cut product forcasts by 50% 6 months to a year ahead based on only 3 or 4 weeks of sales, unless the blew the load in 2 or 4 days and no one has bought a iphone since.

I am long on Apple and not interested in even taking a little profit at this time, let it ride and roller coaster is fun.

quinney · 07-31-2007, 03:29 PM

Quote:

Originally Posted by roehlstation

Eminem should sue.

drjjones should sue

backtomac · 07-31-2007, 04:38 PM

^^

Now he can't afford a lawyer.

StuBeck · 07-31-2007, 04:52 PM

Quote:

Originally Posted by Maestro64

These analysts are putting out FUD so to take opportunites to pull the stock back so they can convince their investors to buy. This is not the first time this has happen, other analysts in the past who no one ever heard of in the past all of a suddent comes out with news that no one else has and the stock falls and you never hear from them again.

Think of it, cut iphone from 9 to 4.5 million over what period, come on apple stated 10 million in 18 months, why would they cut product forcasts by 50% 6 months to a year ahead based on only 3 or 4 weeks of sales, unless the blew the load in 2 or 4 days and no one has bought a iphone since.

I am long on Apple and not interested in even taking a little profit at this time, let it ride and roller coaster is fun.

The other thing is the analyst you've never heard of saying that Apple sold a million iPhones in the first 24 hours and other stuff which wasn't true. There was a lot of false information about the iPhone which escalated the price of the stock. I see it going down some more because it is very unstable right now, going up and down 3 to 5 percent every day. I think it will even out somewhat close to what it was a few months ago at some point once longer term news for Apple comes out.

mstone · 07-31-2007, 05:24 PM

Quote:

Originally Posted by StuBeck

I see it going down some more because it is very unstable right now, going up and down 3 to 5 percent every day. I think it will even out somewhat close to what it was a few months ago at some point once longer term news for Apple comes out.

If you look at the lows (red) the trend line says we are about on track. The upside looks kind of interesting.

SpamSandwich · 07-31-2007, 05:59 PM

Boy, this is hell week. I'm in it for the long haul though. Picked up another block at 135.

JDW · 07-31-2007, 06:24 PM

My personal thanks to all you nutty analysts and news reporters who successfully helped drive down the cost of AAPL last night by nearly 10 points. It would appear someone read my last post!

Keep it up! And buy low, sell high!

JimDreamworx · 07-31-2007, 06:54 PM

I love it! AAPL has a P/E below 40 and RIMM (a one-trick pony*) has one above 50.

And AAPL gets hit because a goofy rumor has them not ramping up fast enough.

--------------

* mind you, it's been a good trick for the last little while...

Splinemodel · 07-31-2007, 07:00 PM

Quote:

Originally Posted by Wally

So does this mean a Libel suit: Apple vs. TheStreet?

Someone cook these a**holes please.

seriously. . . I lost a lot of wealth today because of false reports.

aaarrrgggh · 07-31-2007, 07:12 PM

Quote:

Originally Posted by JimDreamworx

I love it! AAPL has a P/E below 40 and RIMM (a one-trick pony*) has one above 50.

Yup... Easy money to be made both long and trading on volatility! Happy to buy a few more blocks today!

anantksundaram · 07-31-2007, 07:40 PM

Quote:

Originally Posted by Splinemodel

seriously. . . I lost a lot of wealth today because of false reports.

Oh, calm down!

You are only as poor as you were in early July. You've had all this extra "wealth" for less than a month, when the stock went reliably above $131 for the first time.

JDW · 07-31-2007, 08:19 PM

Quote:

Originally Posted by anantksundaram

Oh, calm down!

You are only as poor as you were in early July. You've had all this extra "wealth" for less than a month, when the stock went reliably above $131 for the first time.

Is this thread filled with complete novices to the world of investing? Seriously, you don't need to get upset or "calm down." You are not "poor" or "rich" UNTIL you sell (unless you foolishly buy stock on borrowed money). I don't think any of you moaning here are "selling" now are you? No. You are just growing fearful over nothing.

Again, most of you who blew through my previous post clearly missed the point. Nutty analysts can often create trouble for us in market. But in this case, it's a real blessing. We all know that AAPL is going to do extremely well in the long term (over the next 12 months) for reasons that I don't need to go into here. This pull back in the stock price makes it more attractive now to people who know the market and "buy low to sell high." And unless this rumor is confirmed with a lot of evidence over the next 72 hours, the stock price should jump right back, possibly gaining 10 points or more in the next few days. What does that mean? Instant profits for everyone who buys at the current $13x/share price.

It really is THAT simple, folks.

SpamSandwich · 07-31-2007, 10:12 PM

131.76... Good Lord.

anantksundaram · 07-31-2007, 10:56 PM

Quote:

Originally Posted by JDW

Is this thread filled with complete novices to the world of investing? Seriously, you don't need to get upset or "calm down." You are not "poor" or "rich" UNTIL you sell (unless you foolishly buy stock on borrowed money). I don't think any of you moaning here are "selling" now are you? No. You are just growing fearful over nothing.

Again, most of you who blew through my previous post clearly missed the point. Nutty analysts can often create trouble for us in market. But in this case, it's a real blessing. We all know that AAPL is going to do extremely well in the long term (over the next 12 months) for reasons that I don't need to go into here. This pull back in the stock price makes it more attractive now to people who know the market and "buy low to sell high." And unless this rumor is confirmed with a lot of evidence over the next 72 hours, the stock price should jump right back, possibly gaining 10 points or more in the next few days. What does that mean? Instant profits for everyone who buys at the current $13x/share price.

It really is THAT simple, folks.

With a set of bald-faced assertions passing off as analysis, you're calling the people in this thread 'novices?' Your analysis above is about as substantive as that of Mr. Kumar's.

Oh, while you're at it, get yourself a sense of humor too, and chill out. This is not an investing forum, but just a place for some Apple enthusiasts to share some insights, hopefully an occasional nugget of wisdom and humor, and perhaps even a jibe or two.

SpamSandwich · 07-31-2007, 11:56 PM

I still say there needs to be a dedicated Forum for AAPL stock chit-chat...

SpamSandwich · 08-01-2007, 12:27 AM

Quote:

Originally Posted by Splinemodel

seriously. . . I lost a lot of wealth today because of false reports.

Hopefully you didn't sell on the downturn... if not, you'll be OK. Hold on for a while, she'll be headin' up again after the crazed panic from the housing market collapse, and the banks teetering on the edge... oh, wait a second... I was trying to cheer you up...

Neil Anderson · 08-01-2007, 09:49 AM

Don't worry. Be happy. Roller coasters are fun, but not for the queasy.

Hiro · 08-01-2007, 12:58 PM

Quote:

Originally Posted by SpamSandwich

I still say there needs to be a dedicated Forum for AAPL stock chit-chat...

And do you think Kasper wants to open himself to legal action if he even hints at making that an official sanctioned part of AI and some bozo goes off spouting rumors that get picked up and move the stock price?

A thread in Outsider or GD can be passed off as harmless free speech. A dedicated forum means policing it to the SEC's and litigious lawyers likings. Don't touch that with a 10-foot pole!

anantksundaram · 08-01-2007, 06:02 PM

Quote:

Originally Posted by Hiro

A dedicated forum means policing it to the SEC's and litigious lawyers likings. Don't touch that with a 10-foot pole!

Hear, hear!

Splinemodel · 08-02-2007, 12:58 AM

Quote:

Originally Posted by SpamSandwich

Hopefully you didn't sell on the downturn... if not, you'll be OK. Hold on for a while, she'll be headin' up again after the crazed panic from the housing market collapse, and the banks teetering on the edge... oh, wait a second... I was trying to cheer you up...

The housing market collapse has more or less already occurred. Banks are surviving. Apple keeps selling iPods & macs.

By the way, I'm not exactly worried about Apple. I'm just a little upset that some twit made a false report. That is not cool. Over the past few years, the same type of thing has landed jail time for dozens of corporate accountants!

jonnyboy · 08-02-2007, 10:17 AM

this kinda ramp, dudes!

cowabunga!

07-31-2007, 01:27 PM	#1
*AppleInsider* Kasper's Automated Slave Join Date: Nov 1997 Posts: 6,170	Apple slips on overblown iPhone remark; iPod ramp in September? Shares of Apple Inc. took a substantial hit Tuesday morning after an unofficial analyst comment on iPhone production was blown out of proportion during a swift game of Wall Street telephone tag. Meanwhile, an overseas report claims Apple plans to ramp production of a new iPhone model this September. Apple skids on one-off analyst comment Apple shares slipped more than $5.00 or 3.5 percent in early morning trading on the Nasdaq stock market after TheStreet.com reported on a research note from Miller Tabak which allegedly asserted that Apple was reducing its production of iPhones from "9 million units to 4.5 million units.” However, Miller Tabak analyst Peter Boockvar later told AppleInsider that his firm authored no such note on Apple. Instead, he said, gossip was passed along*during a conversation and was subsequently overblown. "Disregard it. There's no note on Apple today," Boockvar said. "It's pure noise." iPod ramp in September Taiwan-based Compeq Manufacturing will start producing rigid-flex printed circuit boards (PCBs) for a new line of Apple iPods due for production ramp in the September time frame, according to DigiTimes. Rigid-flex circuit boards use a combination of flexible and rigid substrates laminated into a single package, presenting a 3D interconnect that can be bent, folded, and mutilated into a higher performing PCB. The technology allows electronics designers to replace multiple PCBs interconnected with connectors, wires and ribbon cables with a single package offering improved performance and reliability. Additionally, Compeq is said to have received validation for high density interconnect (HDI) and rigid-flex PCBs for handheld models that will become part of Apple's iPhone series. While DigiTimes offered no additional details on the iPhone model, it cited industry sources in saying iPod production would begin in small volumes this August, with shipments ramping up in September. [ View this article at AppleInsider.com ]

07-31-2007, 01:46 PM	#3
Ireland Registered User Join Date: Feb 2006 Location: Ireland Posts: 8,564	How high is the ramp? Collecting my SSD iMac Fry-die. :D

07-31-2007, 02:02 PM	#9
jamezog Registered User Join Date: May 2006 Location: the Great White North Posts: 163	Today's a day to buy some AAPL... Last edited by jamezog; 07-31-2007 at 02:07 PM..

07-31-2007, 02:21 PM	#12
madeincupertino Registered User Join Date: Jan 2006 Location: philly Posts: 18	today's NOT a day to buy some apple apple is very close to its all time high (reached about a week ago). of course this was all due to a flurry of iphone hype. the iphone is here. it looks like the sales have started to trail off (this is what could be inferred from Verizon's conferrence call about losing customers to AT&T). the iphone being a huge success is already priced (in my opinion overpriced) into apple's stock. i see a major lack of news between now and the fall (when apple should begin to pick up due to seasonal sales up swing)... sure new imacs (overall, desktops are only 1/4 of apple's sales) and new ipods (which are rumored not to be widescreens ala the iphone)... i dunno i don't see any real surprises pumping up the stock. of course there is the continued growth story about apple selling more computers but this is already priced into the stock. are you sure you want to buy apple now?

07-31-2007, 03:29 PM	#17
Maestro64 Registered User Join Date: Jan 2005 Location: Philadelphia Posts: 264	These analysts are putting out FUD so to take opportunites to pull the stock back so they can convince their investors to buy. This is not the first time this has happen, other analysts in the past who no one ever heard of in the past all of a suddent comes out with news that no one else has and the stock falls and you never hear from them again. Think of it, cut iphone from 9 to 4.5 million over what period, come on apple stated 10 million in 18 months, why would they cut product forcasts by 50% 6 months to a year ahead based on only 3 or 4 weeks of sales, unless the blew the load in 2 or 4 days and no one has bought a iphone since. I am long on Apple and not interested in even taking a little profit at this time, let it ride and roller coaster is fun. Last edited by Maestro64; 07-31-2007 at 03:34 PM..

07-31-2007, 01:48 PM	#4
Idle Registered User Join Date: Nov 2006 Location: the city by the lake Posts: 48	Stupid knee-jerk "investors."

07-31-2007, 02:00 PM	#6
Wally Registered User Join Date: Oct 2006 Posts: 208	So does this mean a Libel suit: Apple vs. TheStreet? Someone cook these a**holes please.

07-31-2007, 02:01 PM	#7
StuBeck Registered User Join Date: Jun 2007 Posts: 140	They didn't say anything, so a libel suit is in order? No, not at all.

07-31-2007, 02:02 PM	#8
gumguy Registered User Join Date: May 2007 Posts: 14	Yea, thanks for the "noise" and I hoped someone gets fired!!

07-31-2007, 02:05 PM	#11
roehlstation Registered User Join Date: Jan 2007 Posts: 492	Eminem should sue.

07-31-2007, 02:22 PM	#13
mstone Registered User Join Date: Jan 2006 Location: SoCal Posts: 943	TheStreet.com Kramer up to his old tricks again? Buy on dip (sh*t). m

07-31-2007, 03:21 PM	#16
anantksundaram Registered User Join Date: Sep 2006 Posts: 3,243	This is just the kind of thing that the SEC typically checks up on, to make sure that no one from thestreet.com was profiting from this kind of a price move. I have little doubt that they have a bunch of their folks sniffing around on this one, and that this is probably not the last we will hear of it....... But the skittishness/nervousness on Apple is the larger story here: As I have said before, this is the kind of volatility that we simply have to learn to live with in the new, post-iPhone world until the dust settles somewhat on what this new product means for AAPL's cash flows in the future.

07-31-2007, 04:38 PM	#19
backtomac Registered User Join Date: Jan 2006 Posts: 3,943	^^ Now he can't afford a lawyer.

07-31-2007, 05:59 PM	#22
SpamSandwich Registered User Join Date: May 2005 Posts: 8,461	Boy, this is hell week. I'm in it for the long haul though. Picked up another block at 135. "The natural progress of things is for liberty to yield, and government to gain ground." —Thomas Jefferson Proud AAPL stock owner.

07-31-2007, 06:24 PM	#23
JDW Registered User Join Date: May 2006 Location: Japan Posts: 122	Thanks! My personal thanks to all you nutty analysts and news reporters who successfully helped drive down the cost of AAPL last night by nearly 10 points. It would appear someone read my last post! Keep it up! And buy low, sell high!

07-31-2007, 06:54 PM	#24
JimDreamworx Registered User Join Date: Jun 2003 Location: North America Posts: 859	I love it! AAPL has a P/E below 40 and RIMM (a one-trick pony) has one above 50. And AAPL gets hit because a goofy rumor has them not ramping up fast enough. -------------- mind you, it's been a good trick for the last little while...

07-31-2007, 10:12 PM	#29
SpamSandwich Registered User Join Date: May 2005 Posts: 8,461	131.76... Good Lord. "The natural progress of things is for liberty to yield, and government to gain ground." —Thomas Jefferson Proud AAPL stock owner.

07-31-2007, 11:56 PM	#31
SpamSandwich Registered User Join Date: May 2005 Posts: 8,461	I still say there needs to be a dedicated Forum for AAPL stock chit-chat... "The natural progress of things is for liberty to yield, and government to gain ground." —Thomas Jefferson Proud AAPL stock owner.

08-01-2007, 09:49 AM	#33
Neil Anderson Registered User Join Date: Jun 2007 Location: Princeton Posts: 94	Volatility Don't worry. Be happy. Roller coasters are fun, but not for the queasy.

08-02-2007, 10:17 AM	#37
jonnyboy Registered User Join Date: Jan 2005 Location: Tokyo, Japan Posts: 477	this kinda ramp, dudes! cowabunga!

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