Apple's market cap dips below Exxon as stock selloff continues
Shares of Apple dropped more than 2 percent on Friday, continuing the company's selloff after this week's earnings report, and dropping its market capitalization below oil giant Exxon Mobil Corporation.
Shares of Apple had dropped as much as 2.4 percent in trading Friday afternoon, bringing its market cap to under $412 billion.
Shares of Exxon, meanwhile, were up more than a quarter of a percent, pushing its market capitalization to more than $417 billion. The changes made Exxon once again ? at least temporarily ? the most valuable company in the world by market cap.
Apple first passed Exxon's market cap in 2011, making the iPhone maker the world's most valuable company. It has held that distinction ever since, but shares of Apple have been dropping since late 2012 as investors fear Apple's slowing growth.
After Apple reported its holiday quarter on Wednesday, the company's stock dropped more than 10 percent in after-hours trading. Since then, the stock has not recovered, and is off more than $250 from its high reached in September during the iPhone 5 launch period.
While the battle for market cap supremacy between Exxon and Apple is largely superficial, a more serious low point was also achieved by Apple on Friday: with shares dipping below $440, the company's stock reached a new 52-week low.
Shares of Apple had dropped as much as 2.4 percent in trading Friday afternoon, bringing its market cap to under $412 billion.
Shares of Exxon, meanwhile, were up more than a quarter of a percent, pushing its market capitalization to more than $417 billion. The changes made Exxon once again ? at least temporarily ? the most valuable company in the world by market cap.
Apple first passed Exxon's market cap in 2011, making the iPhone maker the world's most valuable company. It has held that distinction ever since, but shares of Apple have been dropping since late 2012 as investors fear Apple's slowing growth.
After Apple reported its holiday quarter on Wednesday, the company's stock dropped more than 10 percent in after-hours trading. Since then, the stock has not recovered, and is off more than $250 from its high reached in September during the iPhone 5 launch period.
While the battle for market cap supremacy between Exxon and Apple is largely superficial, a more serious low point was also achieved by Apple on Friday: with shares dipping below $440, the company's stock reached a new 52-week low.
Comments
It's just a game, no big deal.
Apple is doomed!!!!
Apple is not going to split the stock.
Quote:
Originally Posted by pedromartins
It's just a game, no big deal.
That's easy for you to say, if you don't have any skin in the game. I don't have any skin in the game right now at the moment either, but this is not good for Apple or for those people who invest their hard earned money in that company. Most people aren't Al Gore, who gets to buy their shares at around $7.
Quote:
Originally Posted by Apple ][
That's easy for you to say, if you don't have any skin in the game. I don't have any skin in the game right now at the moment either, but this is not good for Apple or for those people who invest their hard earned money in that company. Most people aren't Al Gore, who gets to buy their shares at around $7.
It's only a big deal for those that decide to sell. Now for those victims of this craziness it's total crap I agree.
The second greatest advice my father ever gave me was: You never make or lose money in the stock market until you sell.
Of course, dividends are an exception but the general rules of thumb always have caveats. Think of the stock market as Schrödinger's Investment. You don't know if you'll ultimately make or lose money on an investment until you decide to cash out.
Apple reports biggest quarter in its history, setting sales records. Also sets new corporate quarterly record in tech sector.
*couldn't sell infinity-million iPhones*
*Time to hammer the stock*
smh
I thought you brought in at 457.
I waiting to see how far down it's going to go... I'll probably buy in on the first uptick
As I mentioned in another thread, dividends never do that. All they do is to burst the speculation bubble, because once you start giving out dividends, people start caring about actual profit. Microsoft made the same mistake and Jobs knew this, but Cook is only now learning it the hard way.
Quote:
Originally Posted by Buzzz
Guess those stock dividends and huge profits did nothing to solidify investor confidence in Apple's future.
Zero growth is Zero growth. They just did 8% if you account the 13 weeks VS 14 weeks and just guided no growth.
What do you think the "growth" funds are doing? ...they are dumping and dividend is still to small for value fund to pick up the stock.
I am down 80% in my Apple account. I am bringing new cash to do a reset of all my Jan 2015 leaps, which means I will roll down everthing and restarts like I just bough here. I am not going to take any chance, its all 2 years out options from now on and I will convert to stocks when I can.
Quote:
Originally Posted by majjo
I thought you brought in at 457.
I waiting to see how far down it's going to go... I'll probably buy in on the first uptick
No, my last trade was last week, I bought in at 499.9999, and I sold right before the close on earnings day for around 514.
I haven't touched AAPL since earnings day, and I don't have any immediate plans. AAPL needs to prove itself to me, before I put my cash on the line.
1) The uncharacteristic smorgasbord product launch in Sept
2) The Maps fiasco
3) The Forestall food fight
4) Massive product constraints
5) Broken supply chain
No Spotify, no Waze, no_?
6) Openheimer changing AAPL's guidance MO at the worst possible juncture.
It has become apparent to me that with Steve gone and Cook at the helm APPL is a broken company.
Quote:
Originally Posted by SolipsismX
The second greatest advice my father ever gave me was: You never make or lose money in the stock market until you sell.
I fully agree, and that is great advice. Unfortunately, many people do engage in panic selling and they follow the herd. I would not panic now, and I certainly wouldn't sell, if I was stuck in a bad position.
I made a post in another forum about Apple's earnings report that would be valid here. For some reasons Tallest Skil kept deleting this comment even though I didn't appear to be breaking any of the forum rules. Hmm, I wonder why?
The results from their earnings report mainly had to do with their Mac line. Why does this mean when all you do is make small evolutionary updates to your desktop line for a really long time your sales will eventually decline? What a revelation. Here is a side by side comparison between the 2004 iMac and current iMac:
http://hal9209.com/blog/wp-content/uploads/2010/09/iMac-side-by-side.jpg
This is what Apple has accomplished in a decade. If you can see the revolutionary changes in this design let me know. Evolution is fine but it needs to be balanced out by occasion revolutionary designs.
Quote:
Originally Posted by Vaelian
As I mentioned in another thread, dividends never do that. All they do is to burst the speculation bubble, because once you start giving out dividends, people start caring about actual profit. Microsoft made the same mistake and Jobs knew this, but Cook is only now learning it the hard way.
total BS, Apple is dropping and Microsoft dropped on growth deceleration. The price of a stock is based on either its growth potentiel or on valuation. Apple as lost its growth potentiel and the only thing remaining is valuation. Dividend is the thing holding it right now, but its not enough for value funds to pick up the massive growth fund dumping.
What Apple should have done is rise the dividend to support the stock until they can announce new products or prove they can still get there thing back together. They can double the div and still continu to pile up cash. Or maybe they know they are going down and just want to keep all the cash in, which means the company is now dead meat.
Quote:
Originally Posted by SolipsismX
The second greatest advice my father ever gave me was: You never make or lose money in the stock market until you sell.
Of course, dividends are an exception but the general rules of thumb always have caveats. Think of the stock market as Schrödinger's Investment. You don't know if you'll ultimately make or lose money on an investment until you decide to cash out.
Your father probably never held shares of Nortel, pre-2009 GM or 360 Networks
Quote:
Originally Posted by herbapou
The price of a stock is based on either its growth potentiel or on valuation.
But valuation is a subjective thing?