Apple’s stock dives during Macworld keynote
- January 15th, 2008
- 3 Comments
It looks like Wall Street isn’t too impressed with what Steve Jobs has showed off today. Apple’s stock is down some 8 percent today, trading at $170.41. What’s up, Wall Street? I mean, I have my own reasons why I’m disappointed with the announcements, but I’d like to know what The Street’s problem is.
Apple Stock Tanks During Stevenot [TechCrunch]
Matt Claypotch (Who am I?)
8 months ago
My bet has nothing to do with the big wigs, and everything to do with people trying to short the stock on the keynote.
Ethan (Who am I?)
8 months ago
its pretty hard to keep things secret, so the MacBook Air and other news about the iPhone numbers and OSX Leopard numbers are most likely already priced into the stock running up to todays event.
There’s also the possibility that people are doing some profit-taking on a stock that has done very well.
Adam (Who am I?)
8 months ago
I don’t think that there’s a product in our collective imagination that Steve could have pulled out today that would have AAPL up on the day. Risky assets are just starting to wake up to global economic reality (NASDAQ down 2.45% today, down 8.85% YTD). I would argue that AAPL still has a pretty fancy price even down 14.5% YTD. A price/earnings ratio of about 42 heading into a U.S./Global recession is pretty optimistic. I’ll say again that I have no idea where this stock is going but if I was a monkey in front of a dart board (and I am) I would choose not to throw the dart (and I’m not).