Apple stock closed at a new 2013 high on Tuesday — rising 2.7 percent (or $15) over the course of the day to finish at $566.32.
For those keeping score, that’s the best close Apple’s stock has had since December 4, 2012, and means that the company is up by 6 percent so far this year — although still down on the $700 all time high which accompanied the iPhone 5.
If you’re looking for a way to get rich overnight, here’s an idea: somehow borrow $1 billion without anyone knowing what you’re doing, invest it all in Apple shares the night before an earnings call (when the stock price is all but guaranteed to rise), immediately sell the next morning, return the original capital, and then pocket the profit without anyone the wiser.
Sound too straightforward to be true? That’s because it is — although that didn’t stop 40 year old trader David Miller from trying the stunt back in 2012.
This is the cover of the favorite album of iOS 7 beta testers.
It’s not uncommon to see early versions of upcoming iOS and Mac releases pop up in server logs — we’ve seen occasional blips from iOS 7 and OS X 10.9 for a while now in our own server logs — but what is less common is actually looking over an iOS 7 beta tester’s shoulder and checking out what they’re interested in.
Bob Herbold is not impressed with Tim Cook. Not at all.
Apple’s stock hasn’t been doing too well lately. While many analysts think the problem is that Apple hasn’t released any new products in months, Microsoft’s former COO thinks it’s more of a leadership problem.
In a recent article, former Microsoft COO, Bob Herbold claimed the problem with Apple is that it doesn’t have a visionary leader who is paranoid with details, so Apple’s totally going to start sucking like Microsoft pretty soon.
Andy Zaky has been one of the most famous independent Apple analysts for years. The self-taught, 33-year-old investor has offered some of the most wildly accurate predictions on Wall Street, and in the past he’s been pretty spot on with his bullish calls to buy AAPL stock.
But something happened to Apple’s stock value after hitting its September 2012 high of $700+ per share. It suddenly plummeted, and it has continued to decrease for the past 5-6 months. Speculation abounds, but no one has been able to pinpoint exactly why AAPL has been—and still is—taking such a beating.
As you can imagine, many investors have lost a lot of money betting on Apple’s success over the past several months, and morale is weakening on Wall Street. Zaky is one of the best examples of how incorrectly predicting Apple’s stock value can have grave consequences.
Hedge fund heavyweight David Einhorn just won a decisive victory in his crusade against Apple’s limited stock options.
A New York judge has ruled in favor of David Einhorn’s Greenlight Capital and blocked an AAPL shareholder vote that would limit Apple’s ability to give preferred stock options to investors. The ruling comes after Greenlight held a meeting yesterday with shareholders to explain the ideas behind its “iPrefs” stock proposal.
Apple shareholders were scheduled to vote on limiting preferred stock next Wednesday, but a preliminary injunction has been granted that stops the vote from taking place.
The saga between David Einhorn of Greenlight Capital and Apple continues.
Greenlight Capital’s David Einhorn is a very influential Wall Street investor who is going after Apple for proposing to allegedly eliminate preferred stock options from AAPL shareholders. Apple recently started issuing small dividends to investors, and preferred stock would entitle investors to fixed dividends instead of the fluctuating common-stock dividends.
Einhorn and Greenlight Capital will hold a conference call today with interested Apple investors to discuss their ideas on how Apple should use its massive cash pile.
Apple has been treading lightly with Wall Street in recent months. The company’s stock has continued to nosedive despite reporting record earnings for the last quarter. Many investors have been urging Apple to do something with its $137 billion cash hoard. Shareholders want a return on their investments.
Greenlight Capital, a prominent and influential Apple investor, has called Apple out for its proposal to eliminate preferred stock. Apple started paying a quarterly dividend of $2.65 per share last year, but investors want something more substantial. Greenlight Capital’s David Einhorn believes that “preferred shares would be a way to reward investors without putting the company at risk.”
Apple has officially responded with a press release:
Apple will announce its quarterly earnings for the 2012 holiday season tomorrow, and investors are nervous. The company’s stock has been on quite the roller coaster ride since its $700 high back in September 2012. AAPL is now trading right around $500, which is the lowest it has been in more than six months.
Recent reports have said that demand for products like the iPhone is faltering. That’s why it may come as a surprise that Wall Street expects Apple to have its best earnings report ever tomorrow. So is it a good time to sell AAPL? Now may actually be the best time to buy.