News Breaks |
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| December 5, 2012 |
| 14:31 EDT |  | AAPL, CHL, NOK | Apple sell-off attributed to numerous factors by analyst
Shares of Apple (AAPL) are sinking today primarily because of a "misinterpreted" news report and a "technical breakdown" in the stock, Piper Jaffray analyst Gene Munster wrote in a note to investors this afternoon. Munster doesn't believe the reasons behind the decline hold much water and he recommends buying the stock amid the pull back. One of the primary factors behind the stock's decline is a report by Taiwanese website DigiTimes that Apple's demands for iPhone 5 parts and components may drop 20% in the first quarter of 2013, the analyst wrote. Such a decline, however, is to be expected, since the device was just launched during the current quarter, according to Munster. Also a major contributor to the stock's decline is the fact that the shares' 50 day moving average is nearing its 200 day moving average. At worst, this bearish technical development could cause the stock to decline another 10% from current levels, Munster believes. A third, less important factor behind the stock's sell-off is a decision by COR Clearing to increase its margin requirement on purchases of Apple's stock to 60% from 30%. This decision doesn't affect Apple's fundamentals as a company, the analyst believes. Finally, the announcement by Nokia (NOK) that its Lumia phones will be offered by China Mobile (CHL) by the end of the year could also be hurting Apple's stock, as some investors have speculated that China Mobile will offer the Lumia instead of the iPhone. Munster, however, still expects China Mobile to sell the iPhone in the second half of 2013. In mid-afternoon trading, Apple dropped $27.07, or 4.70%, to $548.78. |
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News For AAPL;NOK;CHL From The Last 14 Days Check below for free stories on AAPL;NOK;CHL the last two weeks. |
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| May 20, 2013 |
| 12:04 EDT |  | AAPL | Apple rumored to be testing OLED for iWatch, AppleInsider says
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| 09:40 EDT |  | AAPL | Active equity option families trading
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| 07:32 EDT |  | NOK | Society for Information Display / IHS to host a conference
Display Week 2013 is being held in Vancouver, British Columbia on May 19-24. |
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| 06:27 EDT | | AAPL | Apple MacBook orders to rise 20% sequentially in Q2, DigiTimes says
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| 06:23 EDT | | AAPL | Apple next-generation iPad trial production to begin soon, Digitimes says
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| May 17, 2013 |
| 16:00 EDT | | AAPL | Options Update; May 17, 2013
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| 12:13 EDT | | AAPL | Samsung says S4 sales to reach 10M next week, Korea Times says
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| 12:01 EDT | | AAPL | iPad mini panel shipments from AUO expected to drop this quarter, DigiTimes says
AU Optronics' (AUO) shipments of panels for Apple's (AAPL) iPad minis are expected to sink to 2.5M-2.8M in Q2 from 4M in the first quarter, Taiwan-based supply chain sources stated, according to DigiTimes. Reference Link |
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| 11:05 EDT | | AAPL | Apple devices approves for use on U.S. military networks, Bloomberg says
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| 09:57 EDT | | AAPL | Apple devices approved for use by Pentagon, Bloomberg reports
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| 09:37 EDT | | AAPL | Active equity option families trading on open
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| 07:11 EDT | | AAPL | Apple to suggest tax reform for offshore cash, Bloomberg reports
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| 06:43 EDT | | AAPL | Apple disputing government's e-book allegations, NY Times says
Apple (AAPL) is aggressively combating the U.S. government's contention that it pushed Amazon.com (AMZN) and publishers to raise e-book prices,The New York Times reported yesterday, citing court papers filed this week. Amazon and publishing companies were already looking to use a different pricing model before Apple joined the e-book business in 2000, the newspaper quotes Apple as stating. A trial over the Justice Department's lawsuit against Apple regarding e-book pricing is slated to start June 3, the newspaper noted. Reference Link |
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| 06:12 EDT | | AAPL | Apple losing its edge as innovator, poll shows, Bloomberg reports
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| 06:06 EDT | | AAPL | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: A so-so Q1 earnings season hasn't dented investors' enthusiasm for stocks as prices have been rising, with the DJIA up 16% for the year and 4.2% since earnings season began April 8, the Wall Street Journal reports...JPMorgan Chase (JPM), in a last-ditch effort to beat back activist investors, sent a letter to shareholders who have yet to vote on the nonbinding proposal ahead of the May 21 annual meeting, urging them to reject a proposal to split the chairman and CEO roles held by James Dimon, the Wall Street Journal reports...REUTERS: Amazon.com (AMZN) will be called back to the British parliament to clarify how its activities in the U.K. justify its low corporate income tax bill, Reuters reports...J.C. Penney (JCP) CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, Reuters reports...BLOOMBERG: Apple (AAPL), which holds $102B in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country, Bloomberg reports...Fiat’s (FIATY) deliberations over moving its headquarters to the U.S. after a merger with Chrysler Group LLC. raised concern among Italian unions and politicians about the plans of the country’s biggest manufacturer. CEO Marchionne is considering the move because Fiat’s main sources of revenue and profit are shifting to North America, Bloomberg reports. |
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| May 16, 2013 |
| 14:01 EDT | | AAPL | Options Update; May 16, 2013
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| 13:05 EDT | | AAPL | Spending on Apple, Android video games jumped in Q1, AllThingsD says
In the first quarter spending on video games for Apple (AAPL) and Android devices increased significantly versus the previous quarter, while spending on video games for traditional handheld consoles fell meaningfully, research firms IDC and App Annie found, according to AllThingsD. Consumers spent three times more on games for smartphones and tablets than on games for traditional handheld consoles last quarter, the website stated. Reference Link |
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| 10:20 EDT |  | AAPL | Apple reverses sharply higher after breaking below $420
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| 10:03 EDT |  | AAPL | On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Amazon.com (AMZN) initiated with a Buy at Lazard Capital... Apple (AAPL) initiated with a Neutral at Susquehanna... Churchill Downs (CHDN) initiated with a Buy at Brean Capital... Interpublic Group (IPG) initiated with an Overweight at Evercore... Monarch Casino (MCRI) initiated with a Buy at Brean Capital... Stillwater Mining (SWC) coverage resumed with an Outperform at Wells Fargo... Wabtec (WAB) initiated with an Overweight at Atlantic Equities... eBay (EBAY) initiated with a Buy at Lazard Capital... Dangdang (DANG) initiated with a Buy at BofA/Merrill... Coeur d’Alene Mines (CDE) coverage resumed with a Neutral at JPMorgan... ValueClick (VCLK) initiated with an Underperform at Northland Securities... Yelp (YELP) initiated with an Outperform at Cowen. |
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| 09:44 EDT | | AAPL | Apple falls in early trading, levels to watch
The shares are down over 1.6% to $420.77. At that price, next support is at $419.85. Resistance is at $424.85. Among issues that could be contributing to the price decline are continued cutting of postions by hedge funds long the stock, a news item that Apple and its supplier Foxconn are violating work-hour laws in China, and a U.S. Senate inquiry into its treatment of taxes and non-patriated foreign profits. |
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