Eve, Do NOT bite that BAD Apple!!!
Reuters) – Apple Inc shares tumbled more than 6 percent on Wednesday (12-5-2012), chalking up their biggest single-day loss in four years as fears grow about intensifying competition in the mobile device market.
The sell-off, fueled by a forecast by an influential research firm that the iPad maker is continuing to cede ground to rival Google Inc Android gadgets, rounded off a bleak 10 weeks for the most valuable U.S. company.
The stock was one of Wednesday’s biggest percentage losers on the S&P 500, shedding $35 billion of market value as more than 37 million shares changed hands — blowing past the company’s average daily volume over 50 days of 21 million.
Apple’s shares, once among the most desirable of portfolio holdings, have headed steadily south since September on growing uncertainty about the company’s ability to fend off unprecedented competition.
Once again, when God says “Do not eat from the tree of knowledge of good and evil lest ye shall die” He meant it… After all, when so many Serpents are crawling around AAPL stock looking to devour unsuspecting investors/patsy’s, He must of scribed the “Handwriting is on the Wall” just for them…
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UPDATE:
Apple May Fall Another 20% on ‘Panic Selling’: Analyst
CNBC
Published: Thursday, 6 Dec 2012 | 12:59 PM ET
By: John Melloy
Raymond Boyd | Michael Ochs Archives | Getty Images
Apple’s stock is up Thursday, but the recent selloff may be far from over.
Extraordinary volume during the stock’s plunge this fall signals another 20 percent decline is still ahead, a top chart analyst on Wall Street says. (Read more: Apple Defies ‘Death Cross’)
“Along with the two volume ‘spikes’ cited in my Nov. 16 note, yesterday (Wednesday) was another volume ‘spike’ day on the downside suggesting that the $528 support area will in fact be decisively broken on a closing basis over the near-term,” said John Mendelson, technical analyst for ISI. “My view continues to be that because the stock ran up so fast last spring, the next significant support area is $420.”
EXACTLY WHAT I SAID YESTERDAY. THIS PILE OF CRAP STILL HAS A WAYS TO GO BEFORE REAL VALUE IS FOUND.