Disclosure: I frequently have positions in this stock. I could own shares at the time you read this post. Investing is risky and you can lose money. Do not look here for investing advice. Do your own homework and make your own decisions or hire a professional to do that for you.
The Apple Falls
So AAPL took a little tumble today, losing about 11 1/3 dollars per share.
AAPL has failed to peirce the $600 per share mark since right after the last earnings report!
Speaking of which, the next earnings report is rumored to be set for: July 24th 2011.
If it follows previous patterns, there could be a rise as early as next week.
But don’t get your hopes up. All the sour news out of Europe, while good for the dollar, is bad for the stock market.
There will be a lot of pressure holding the overall market down and throttling back on the power of the big AAPL as well.
Too bad so sad. I certainly would not short this stock though.
On the other hand, it could be risky. If the market decides to take a bigger tumble, dollars could be lost.
As mentioned a moment ago, the next Earnings report will be out on July 24th. If you have been reading my posts on AAPL, you know that I like to play on Earnings.
Generally speaking, I like to sell a stock before the Earnings Report comes out.
However, the last two ERs for AAPL saw the stock rise sharply the day after the earnings report came out.
The big question is: Will it happen again?
And the answer is: No one knows!
As I recall there were a ton of doubters last time. Going against my normal play, I went ahead and held AAPL and it went up about $50 per share the next days after the report.
However, I did not sell on time and the Stock took a sharp tumble down to the $530 level.
Seeing that this coincided with a support level for the S&P around the 1300 mark, I decided to hold the stock.
Sure enough, it came back up. And I was delighted to sell it for a few dollars / share profit.
What’s next? Hard to tell! There could be a rebound tomorrow or the market could continue its downward move based on the fact that there is a lot of bad news out there.
On the other hand, there could be rebound action tomorrow as well.
In fact, the market as measured by the S&P500 did not stay on its lows yesterday. It came back from lower depths.
That could make a nice prelude to a bump up tomorrow. But, we can never be sure about these things, can one?
Comments? Thoughts? Leave them below.