Apple stock hit with biggest drop since 2013

By

iphone stocks app
Apple shares are taking a dive.
Photo: Ste Smith

Apple’s Q2 2016 earnings have been disasterous for the company’s share price, as AAPL stock suffered its worst week in three years.

Wall Street has suddenly soured on Apple, including Carl Icahn, who revealed earlier this week that he dumped all of his shares. With investors offloading shares, the company watched its market capitalization shrink by $65 billion in a mere three days, which is about the equivalent of Cambondia’s net wealth. 

Mega-investor Carl Icahn gives up on AAPL

By

iphone stocks app
Apple shares are taking a dive.
Photo: Ste Smith

Apple’s biggest cheerleader on Wall Street, Carl Icahn, is getting rid of all of his AAPL shares after the iPhone-maker reported its first year-over-year decline in revenues for the first time in 13 years.

The iconic investors has insisted for years that Apple shares are grossly undervalued and has made over $3.4 billion investing in Apple. Now Carl is throwing in the towel even though he still thinks the stock is ridiculously cheap.

Apple stock plummet erases $40 billion in market cap

By

iphone stocks app
That's a drop the size of Netflix, by the way!
Photo: Ste Smith/Cult of Mac

Following yesterday’s disappointing (but inevitable) Apple earnings call, shares in the company fell by more than 8 percent in after-hours trading. For those keeping track at home, that means that Apple’s market value plummeted by upwards of $40 billion — or the equivalent of the entire market value of Netflix.

Fortunately, things are recovering slightly and stock is currently trading down 6.55 percent priced $97.80.

Liveblog: Apple’s toughest earnings call in a decade

By

Earnings_Call_2
How bad is peak iPhone?
Photo: Ste Smith

Apple earnings calls are usually a time for celebration and gloating, but for the first time in over a decade the company is poised to post declining profits.

Tim Cook warned Wall Street that this would likely happen due to declining iPhone sales. Have we really reached “peak iPhone”?

Analysts and reporters will be grilling Cook and Apple CFO Luca Maestri during today’s Q2 2016 earnings call. Investors will be looking for signs that Apple still has room to grow. And Cult of Mac will be right here, liveblogging the entire Apple earnings call — and translating the financial gibberish — when the big event starts at 2 p.m. Pacific.

Get in on the action below:

Our WWDC 2016 hardware hopes and iPad Pro’s ‘practically perfect’ display on The CultCast

By

macbook-pro-wwdc-2016
What do you want to see unveiled at this year's Worldwide Developers Conference?
Photo: Apple

This week on The CultCast: Why the new iPad Pro screen is “practically perfect”; stories from The Cult of Mac; our most anticipated WWDC 2016 announcements; a look at Apple’s newly updated MacBooks; Apple’s secret plan to create hit TV shows; and, have you ever wondered how rich you’d be if you invested in Apple’s IPO instead of buying its computers? We break down the numbers.

Our thanks to Freshbooks for supporting this episode. FreshBooks is the easy-to-use invoicing software designed to help small-business owners get organized, save time invoicing and get paid faster. Get started now with a 30-day free trial.

What a $1,000 investment in Apple in 1996 looks like today

By

money
Note to self: always bet on Apple.
Photo: Ste Smith/Cult of Mac

As a tech fan, there are plenty of times — particularly when you hear about billionaire investors and record-breaking stock prices — when you wonder whether you would have had the foresight to predict things turning out the way they have.

Would you have bet big on Apple around the time of its 1980 IPO? Was it obvious that Steve Jobs was going to turn around the company in 1997? Or would you have been the equivalent of folks calling the Titanic an unsinkable ship, and pouring your life savings into pre-crash dot-com companies?

An amazing new data-viz shows how the returns on a $1,000 investment made in Apple, Microsoft and IBM would have fared over the next 20 years following January 1, 1996. Check it out below:

Two top Apple execs score big (and one giant) payday

By

money
Turns out there's a lot of money to be made at Apple. Who knew?
Photo: Ste Smith/Cult of Mac

Apple’s Chief Operating Office Jeff Williams and Chief Financial Officer Luca Maestri both dumped large amounts of AAPL stock this month — prompting speculation that those inside Apple aren’t confident that the share price is bouncing back to all-time high levels any time soon.

Although, as usual, such fears are almost certainly greatly exaggerated.

Sorry, haters! Signs point to a massive January for Apple

By

iPhone 6s boasts a new 12-megapixel camera.
Reports of the iPhone's demise may have been greatly exaggerated.
Photo: Killian Bell/Cult of Mac

Forget all the doom predictions about Apple — according to Drexel Hamilton analyst Brian White, the company may have just had its best January since 2008.

Although Apple itself has said that iPhone sales are likely to fall for the first time ever in the January quarter, White claims that his own analysis of Apple’s suppliers suggests that things are looking far from bleak.

Now is a great time to bet on Apple, says Goldman Sachs

By

Apple store istanbul
Step right up and place your AAPL bets.
Photo: Apple

Stocks have been getting crushed all year, but according to Goldman Sachs, now is the perfect time to starting betting on Apple options.

Goldman Sachs’ options team has pointed out that Apple options prices are especially low right now compared to the the S&P 500, making it a great target for purchasing a ‘straddle’, which could score investors a big payday if Apple shares move higher or lower than currently expected.

Straddle options work by allowing investors to purchase a bullish and bearish option on a stock so that they make money off the volatility of shares. It’s an advanced investment for most traders to make and it’s not cheap, but Susquehanna’s Stacey Gilbert explains that it’s cheap relative to volatility expectations for the overall market.

Panicking investors are missing a crucial Apple metric

By

money
Cook says that Apple is no tax dodger.
Photo: Ste Smith/Cult of Mac

Apple soothsayers have been predicting doom and gloom for the iPhone-maker ever since Tim Cook dropped the company’s Q1 2016 earnings. iPhone sales are projected to decline. The iPad is still struggling. And even the Mac is taking a drop.

This is the end for Apple according to some Wall Street crazies, but they’re missing a key metric in Apple’s earnings report that shows the company still has a lot of growing to do thanks to it’s huge install base.