Apple’s stock price fell off a cliff this morning, trading below $100 a share for the first time all year. The best time to buy AAPL shares all year was at 9:30 a.m. today, when the stock opened at $94.87 — before Tim Cook intervened.
If you didn’t buy shares this morning, you’ve already missed your chance to snap up cheap Apple stock. The price trajectory has boomeranged back up, and may give AAPL its biggest one-day gain in months.
AAPL shares are currently trading up 1.85 percent at $107.72. The nearly 13-point gain in a matter of hours is mostly thanks to Cook’s email to Jim Cramer on Mad Money this morning. Cook reassured investors that despite China’s stock woes, the company is still seeing better-than-expected performance in the country.
People today: sell sell SELL SELLLLLL WOW woah buy? yes, buy wait, sell no, buy BUY BUYYYY
— Neil Cybart (@neilcybart) August 24, 2015
Cook’s decision to reach out to Mad Money was an unusual move from the Apple CEO, who usually stays quiet about his company’s performance except during earnings calls and keynotes. But with the Chinese market losing more than 8 percent of its value in a single day, tech companies like Apple that depend on China for growth could face some tough challenges.
Many investors are worried that China’s collapsing stock market will cause economies in the United States and Europe to nosedive, but Cook says the number of iPhone activations in China have actually gone up in the past two weeks. Apple’s also close to launching its next lineup of iPhones, which couldn’t come at a better time to help buoy the stock price.
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
13 responses to “You just missed your chance to buy cheap Apple stock”
“You just missed your chance to buy cheap Apple stock”
Nah, not at all. Despite the silly predictions of ANALysts and the ever-present Apple detractors, Apple stock is still cheap, and a great investment for present and especially future returns.
Nope, I got in! Wasn’t going to let that opportunity pass me by…
“Given that the global economy is collapsing”
Umm, except its not. Are stock markets down? Yes, but other factors, particularly outside China, are looking solid. I think your statement is a grave over reaction.
And you think China’s economy is size of virgin islands that it’ll have no implications on US and other world markets. right!
China is too big to ignore. Particularly for $AAPL. Might not be a big deal for $GOOG that exited Chinese market and focused on India and other emerging markets.
I am not suggesting we ignore China, but its severe contraction is unlikely to have major impact on us and, even then, it certainly not causing the collapse of the world economy. The Great Depression, which was a collapse of the world economy, is not about to repeat itself, nor are we going to even experience something akin to the 2008 Great Recession. We might lose a quarter point in growth, but not much more than that. Apple stock has been so undervalued for so long, that I am not worried about it collapsing either. Its P/E ration is 11.90 at close today and the average range for such ratios for the market as a whole is 15 to 20.
This isn’t a time to panic, run around in circles with our hands in the air, shouting, “panic, panic.’ This is the time to be glad we invest for the long term.
Now, this isn’t a stock trading site, but since we’re talking about it lets go back to your original comment where you said “Are stock markets down? Yes, but other factors, particularly outside China, are looking solid.”
I’m not sure exactly what data set you’re looking at which convinced you to conclude that ‘outside China’ everything is good, but as far as I know, global economies are sort of a chain reaction IMO.
You’re illiterate if you think the global economy is collapsing.
I see you didn’t refute with any proof or claim that the global economy is collapsing. You’re obviously extraordinarily wrong. If you think you’re right, send me a link to the economy collapse, anywhere. It must be news somewhere right. Mongolian news perhaps?
Unless of course you confuse the words “economy” and “stock market”. Which are different words.
cheap was right after the split
@Tallest Skill, assessing the state of the financial markets is not your •best• “skil.” You have absolutely no idea what you’re talking about. Better stay out of this one, kid.
You’re most welcome, Chicken Little. Maybe by now you’ve learned something… although with your arrogance and inexperience, I rather doubt it.
“Popcorn’s ready” suggests you contribute nothing, and instead just sit back on a sofa, ready to pontificate on whatever is happening in this world. Selfish kid.
In any case, even if there were to be “the collapse” of epic proportions you imagine, there most certainly IS something one can do… and that’s to have a balanced portfolio. Ever heard of that? But as you likely have no money or investments in the first place, this Great Crash of 2015 you’re predicting shouldn’t matter to you. Popcorn, couch-sitting and your video games should serve quite well while “the sky is falling.”