You are misunderstanding. He exercised his options to purchase a bunch more stock. He did not sell any.
-
Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.
Apple Reports record results, 47.8mil iPhones, 22.9mil iPads, wall street still mad
- Thread starter mcfrank
- Start date
- Status
You are misunderstanding. He exercised his options to purchase a bunch more stock. He did not sell any.
No way!!
Umm.... Holy shit.
There was supposed to be a bounce back on earnings. I don't know WHAT the fuck to think now.
brianmcdoogle
Member
Too bad Tim can't ask investors questions like "Record revenues. Record profits. More than Amazon and more than Google. Why did you tank our stock 30% in the last 6 months?"
I absolutely have to entertain that idea now. I expected them to rebound closer to $700 on earnings. Or at least to fucking surge after earnings. Its fucking dipping into the $460's in after hours. Jesus fucking Christ.
Ahhh, I kind of skimmed through that thread.. I am really not good with stocks, lol.
grimshawish
Banned
If you expected a bounceback sooner, maybe.
If there were one then it would be far better investing at this value.
I worked at Apple from 2006 until 2008. They also matched my 401k with Apple stock but that didn't work out because I did a 401k rollover into the new companies 401k. STUPID ME!
Cause they are crazy. Just look at microsofts stock history. Look apple at over 700 was not sane. Now they are getting a harsh reality check and the number will correct itself
brianmcdoogle
Member
I thought desktop sales have been on the wane for a while, which suggested to me that this was the first quarter that increases in portable sales were flat, and didn't recoup the loss in desktops. Unless I misheard or misunderstand, I don't know.
grimshawish
Banned
Exactly. The previous 'value' was people stupidly valuing the company at expected future value, they basically thought sales would multiply at no extra cost.
This is what the people currently selling expected. Those sensible saw the 1% increase and sold knowing it wasn't enough; everyone else is in a bit of a panic mode watching it fall.
People were valuing where they thought the market would push the value, not based on their own understanding of the companies value.
The only question is what number is the correct one ? The stock could hit the 300s again shortly
I don't think you misheard. I'm just gonna get into Cook's comments (paraphrased) that I read as I don't think he mentioned laptops specifically so I don't know how much we can read into that part of it:
We left the quarter with significant constraints on the iMac. Our sales would have been higher without those constraints. We tried to warn you on our last call. But to some folks, this may be a surprise.
If you look at last year, Peter showed last year we had a 14-week quarter, this year 13-week.
Our channel inventory was down from the beginning of the quarter by over 100k units. That's because we didn't have the iMacs.
If you look at those three factors, they bridge more than the difference between this year's sales and last year's sales. I'd also point out two other things:
(now it's smaller things
One: The market for PC's is week. IDC's last estimate was -6%. Two, we sold 23M iPads.
So I took that to mean Cook is saying that general PC market decline and iPad sales were not the key factors in the Mac sales drop. it looks like it was mostly the ramp up for iMacs. and a one week shorter quarter.
So, I guess he's saying that we shouldn't expect further YoY declines in future quarters as iMac production ramps up (assuming laptop sales continue to be popular).
BrownChickenBrownCow
Banned
Investers want to see rapid growth, and expansion in a developing market. Apple is pretty stale right now and should expand their services business or break into the budget market. Im guess we will see the latter.
CharminUltra
Member
Good thing I didn't buy at $500. Not sure if I'll be able to resist much longer.
After Hours: 463.00-51.01‎ (-9.92%‎
are investors dumb? it looks like theyre being dumb. im not smart enough to know, though.
No, it's quite simple, really. Apple used to always low-ball their numbers and they would miraculously beat them. Starting a few quarters ago, that started to change. Then today, they said they would stop giving bullshit guidance numbers. And at the same time they lowered guidance. They also refused to give earnings guidance.
The question should be, are people that expect the stock to go up, dumb?
grimshawish
Banned
Well its difficult. Someone somewhere will have far more detailed analysis of Apples value, but I don't have that.
Lets look at their market value:
Shares: 940.69M
Price: 514.01
Price: 458.78 [After Hours]
Value: $483,524,066,900
Value: $431,569,758,200 [After Hours]
Make of it what you will, but the market collapsing suggests people are looking at the extra cost and realising the brand won't sell itself. I have a feeling it was previously being valued on the idea that it can simply announce things and get sales; as oppose to having to invest and spend for them.
Its sanity returning. Apple have some great products but their in a very competitive market, the market is just realising that there is a cost to compete. Meanwhile its fair to say Apple just aren't as diverse with where they get their revenue as Google and MS are.
Heck. Apple have two of their biggest products tied to the competitiveness of their OS.
Meanwhile their computer side is not expanding and they've announced no new products.
They've gone from growing to only just increasing profits yoy. The market at 700 was expecting big increases again, this was stupid. They expected Apple to create a new market to make up for a reduction of the profitability in their current markets.
Apple stocks won't be rising terribly quickly unless they announce a new product (Apple TV); but all of this is pretty risky and unstable.
Ask yourself; will you be able to resist leaving it a little longer? In which case I have to say don't go in here. Just my opinion.
speculawyer
Member
Apple is still a great company kicking everyone else's butt. The stock just got a bit ahead of itself. Nothing grows forever.
Apple sure had an amazing run though with iPod, then iPhone, and now iPad. But it doesn't look like there is a new category on the way so it is mostly continuing with those amazingly successful product lines.
Unless you think the long rumored Apple TV thingy will be big. I doubt that.
Apple sure had an amazing run though with iPod, then iPhone, and now iPad. But it doesn't look like there is a new category on the way so it is mostly continuing with those amazingly successful product lines.
Unless you think the long rumored Apple TV thingy will be big. I doubt that.
See how that works?
But way to focus on the important part. They drastically cut guidance, stock went down. As it should.
No conspiracy needed either.
Liu Kang Baking A Pie
Member
I think Apple's taking their time because no one else is coming close to what they figured out. They'll get it right.
Just had a conversation with a friend about how we only really use our computers for work or as home media servers. I'm imagining the TV idea is going to work with that.
Tallshortman
Member
No, they're the ones who invest money, why would they have to rely on Apple's estimates instead of their own?
Yeah, I feel everyone is focusing on the wrong question. Imo, the recent drop is not that hard to explain and it's still up YOY.
Looking at the past 18 months though, it's the run up in 2012 that should be "scrutinized", not the recent adjustments (or neither).
Hell, with so many hedge funds betting big on AAPL and driving their own returns, I would be far more willing to accept collusion here, rather than the idiotic $500 conspiracy fanboy bs.
GraveRobberX
Platinum Trophy: Learned to Shit While Upright Again.
Apple buys Sharp
iTV is realized
Stock reaches $999
Book It!
That graph zou posted, if you got in even @Mid-2011 and sold during the run-up, good lord, you made out like a bandit (if you had that kind of cash)
iTV is realized
Stock reaches $999
Book It!
I'm just fucking around lol
That graph zou posted, if you got in even @Mid-2011 and sold during the run-up, good lord, you made out like a bandit (if you had that kind of cash)
They've solved the problem buy won't tell anyone how because they hate money. makes sense.
grimshawish
Banned
Agree, but I sometimes think these things are just blips in the market, some odd part of human consciousness. I suspect people on gaf aren't the only people 'waiting for the bounce back' and I'd include some hedge funds (well to a degree; they have good flexibility with these things) as people trapped with what are just pure losses.
Basically something sets peoples expectations up (Apple's announcement timetable works well here); the peaks show this clearly. Everyone forgot what Apple actually did and what other companies actually did in the same space. People begin to believe the stock will continue rising.
Random blip of humanity but it seems clear it was more set up naturally, though obviously other forces will have instantly taken advantage when they saw numbers go above a certain figure.
Yeah, I don't really think we're looking at anything sinister on either end or side here.
Hell, David Einhorn's Greenlight tanked their 2012 performance thanks in part due to their Apple holdings.
Any short-term trader who hoped to catch a a bounce is probably sad. Any long-term investor who still thinks the company is performing exceptionally compared to almost any peer will shrug at how unfair life is and maybe buy a bit more. I know I would if I wasn't already overweight the stock (albeit from a 3-handle).
victreeb3l
Member
thats nowhere near what he said
bigsnack
Member
What I have had success with over the years is not to try and rationalize the market's movements. No matter what Apple's call revealed, the stock has been trending downward for months already. The stock will keep moving downward until someone with a ton of capital stops it from moving downward. So far I don't see that happening yet.
grimshawish
Banned
Your thinking too short term. Explain to me why Apple's value goes through the roof in 2012.
What happened? What did they do to make such huge gains?
Your looking at the issue backwards.
bigsnack
Member
I don't think I'm looking at it backwards, I'm just not trying to justify the movement. Does it really matter why the stock rose in value? The stock went up because people were willing to buy it. That's all there really is to it. There are lots of ways to have success with stocks, and this has worked for me.
grimshawish
Banned
Fair enough. Think I misunderstood your original post. Guess you mostly aim to react quicker than everyone else in getting in and out then?
ChainedMaster
Banned
Umm.... Holy shit.
There was supposed to be a bounce back on earnings. I don't know WHAT the fuck to think now.
Just wait for the iPhone 5...er I mean just wait for the iPad Mini...no uh...wait for the Apple TV.
D'ultimate
Member
I think the bottom line is this.
"If you step back a bit, it's clear they shipped a lot of phones. But the problem is the high expectations that investors have. Apple's conservative guidance highlights the concerns over production cuts coming out of Asia recently."
http://news.yahoo.com/apple-revenue-misses-iphone-disappoints-213649400--finance.html
Excellent numbers for any other company except Apple and perhaps Google. It's just that the market expected and wanted more. The stock will rebound and hover in the $500 range until the launch of the next Iphone.
"If you step back a bit, it's clear they shipped a lot of phones. But the problem is the high expectations that investors have. Apple's conservative guidance highlights the concerns over production cuts coming out of Asia recently."
http://news.yahoo.com/apple-revenue-misses-iphone-disappoints-213649400--finance.html
Excellent numbers for any other company except Apple and perhaps Google. It's just that the market expected and wanted more. The stock will rebound and hover in the $500 range until the launch of the next Iphone.
grimshawish
Banned
Still solid numbers for Apple. Just bad numbers for greedy and foolish investors who should know better.
ChainedMaster
Banned
No it didn't. The stock dropped after earnings despite the WSJ report.
bigsnack
Member
No worries
It's not even that really. I won't want to try and buy something on the way down, I would rather wait and see if someone with a lot more money than me tries to stop it from going down first. There are tools available to try and decipher that, usually by how much volume trades at specific prices, etc. After years of looking at the same patterns over and over, it gets easier (a bit) to recognize something that looks vaguely similar to something that's happened before. After that, you jump in and take a guess just like everyone else
It's been dropping well before that.
Stock price has nothing to do with how successful their product line is. iPhone 5 is outpacing the iPhone 4S and the iPad mini is massively outpacing the previous iPads.
Not likely, the desktop operating system is a dying market at the consumer level. Tablets are taking over the consumer PC market.
ChainedMaster
Banned
Right so Apple's stock has nothing to do with their successful products. Uh huh...
bigsnack
Member
This! It has been selling off for 3 months already, with no real indication that the pattern that is in motion has any plans to reverse.
- Status