Ok, it’s down 30% from its peak. Returns aren’t anecdotes.
Investing logic:
Stock does well: I was correct! I am a genius!
Stock does poorly: Anecdotal devidence, I am still correct, the market is wrong. I am still a genius.
Dollar cost averaging. If you keep buying, you’ll eventually get your cost low enough, and then just imagine the profits when it rebounds!
Brilliant! 
GOOG surpasses AAPL as the most valuable company in the world. Seems like selling the best and most profitable product in the world isn’t even worth as much as a company that tends to invest in too many ‘failed’ projects
I see a lot of people posting this in various places. No one wants to be the one left standing when the music stops for Apple. Everyone is aware the company will continue to mint coin for the coming few years, but looking past that what is it worth?
“Best” is a rather random word to chose for that product. Many people I know haven’t been upgrading their iPhones as its only a marginal upgrade. The iPhones status is that of a fashion item. You run the risk of going out of fashion, you run the risk of another technology coming out and replacing the smartphone entirely.
Apple needs to show investors it can come up with the NEXT thing. They recently gave up on the idea of selling a true Apple TV, and instead the service they sell is average at best. They haven’t shown any progress on the car front like Google has. The amount of money available to Google via self driving cars could be immense & its not like they are starving for cash.
At a higher level, Google has entranched itself in online advertising. As long as people are making products they are going to try and use advertising to convice others to buy their crap. Google is in a much better position for the future than Apple.
Bump. Called it.
I’ll dig into the details tmrw when I’m more awake, but the sell off seems a bit overblown. Still think the company is a relative cash cow getting thrashed due to the comps looking like a growth stock. Nothing new was released in Q1, but in the last few months, despite carriers getting away from subsidizing phones I’m seeing many of the people I know who had iphones, getting new ones despite it. Two girls in my office with iphones upgraded to iphone 6 models. My boss lost his iphone on a work trip and just went and bought a new iphone SE for cash and shrugged it off. The persisitence of iphones is pretty impressive. Of course this is anecdotal evidence, but look around and see what your family/friends are doing. Also, tech overall has been down this earnings season. Check MSFT…
That being said, I bought a new cell phone this month. I upgraded from my 2 year old Moto G to the Moto X. Fantastic phone. $375 on Amazon, combined with my $45/month cell phone plan. The fact that people pay $600-700 for an iphone to use an overpriced network (AT&T/Verizon) is shocking, but also that’s what most people seem to do!
I sold my AAPL position at ~$96 earlier this year. I had been kicking myself as I saw it trade up into the $100s but apparently I might have a new buying opp in the future.
It’s amazing how people not see this coming especially with data available for Apple’s chinese market month before earnings. Saw this coming a mile away but I do think this is overblown and provides another attractive buying opportunies as the result was mainly attributable to slow product cycle relative to its peers such as Samsung in China.
In for more at 96.72. Parking some cash and hoping for upside. Valuation seems cheap, given that it is a luxury brand, imo.
I like it in the low 90s, but I think this (and broader equities, particularly in the US) are selling for a bit too much right now.
I don’t have a stake in AAPL but I don’t think these results are too concerning. The last two years were abnormally high due to the larger iPhone, and due to HK slowing down. All the people who bought the 6 will upgrade. I think it’s a decent buy here but not a home run. I would own this for the return of capital.
Icahn sold his stake. Still holding.
.
Damn, Apple getting beat down hard! It’s happened in the company’s past before (doesn’t mean it will recover this time). Still holding, multi year time horizon for me but currently not a pleasant ride for sure.
Might pick some up tmrw it it stays around $90. My previous exit point was around $95.
Invest accordingly.
My boy Warren B’s discloses almost $900mm stake
Is this like when Berkshire bought BNSF in 2009 at near peak pricing?