Stocks

Even with strong iPhone 5 debut in China, analysts downgrade AAPL, sending shares below $500

Ed Sutherland ∙ Updated April 14, 2018

Is the glass half-full, or half-empty? Apparently, when it comes to Apple's stock, financial analysts in Europe and Asia are born pessimists. After Citigroup Sunday downgraded the iPhone maker's stock from Buy to Neutral, shares fell below $497 in pre-market trading Monday. This after closing Friday at nearly $510. Analysts appear to have discounted the equally-positive news this morning that Apple's two million iPhone 5 in three days in China broke a record...

Here’s why AAPL hit 10-month low today

Ed Sutherland ∙ December 14, 2012

China's influence over Apple's financial health is growing. In fiscal 2011, the country accounted for sixteen percent of Apple's revenues. But is Apple's growth in China sustainable?

Friday, two analyst reduce forecasts amid what one described as a 'muted' response to today's iPhone 5 release in the world's largest market. As a result, Apple shares fell 3.9 percent to a ten-month low.

The decline also hurt a number of Apple's suppliers as the firm is thought to be cutting orders in order "to balance excess inventory". For example, Broadcom is down 3.13 percent and Qualcomm dropped 4.7 percent.

As a result, Jefferies analyst Peter Misek cut his iPhone shipment estimate for the first three months of 2013 to 48 million, down from 52 million. He also trimmed Apple's expected gross profit margin to 40 percent, down two percentage points...

Apple shares fall 4 percent amid heavy trading and post-Jobs era concerns

Ed Sutherland ∙ December 7, 2012

Questions about Apple's future lead to heavy trading in the technology giant Wednesday afternoon, prompting a 4.2 percent drop to $551.50 per share and an almost 22 percent decline since it's all-time high of $705 in September. More than 17 million shares were traded during midday action on Wall Street. Among questions facing investors: can Apple management perform without Steve Jobs, can the company produce another hit product, and can the iPad maker fend off Android...

Apple’s Eddy Cue cashes in $9 million in company shares

Cody Lee ∙ December 5, 2012

Following in the footsteps of Bob Mansfield and other executives, Apple's SVP of Internet Software and Services, and new head of Maps, Eddy Cue sold 15,000 shares of company stock last week. The selloff, which netted Cue nearly $9 million, was detailed in a filing published by the US Securities and Exchange Commission yesterday...

Apple’s Technologies boss cashes in shares

Christian Zibreg ∙ Updated July 12, 2017

Bob Mansfield, Apple's un-retired SVP of Technologies, is another high-ranked executive to cash in shares of AAPL stock after an "insanely insane" sell-off that saw a quarter of Apple's market cap wiped off. Like other executives, Mansfield likely figured the move makes financial sense ahead of a rumored "fiscal cliff".

According to a U.S. Securities and Exchange Commission filing, Mansfield, a long-time Apple veteran, unloaded 35,000 shares. At $582.21 a share, the transaction earned him $20,377,507.50. He still holds 29,548 shares and will get another 150,000 shares in June 2013 and March 2016 provided he stays with Apple.

Though Mansfield wanted to retire, Apple's boss has managed to convince him to stick around for two more years. If Cook gave me a $2 million a month paycheck as a compensation for an advisement position, I'd also un-retire in a heartbeat....

Citi: Apple bottomed, stock set for rebound

Ed Sutherland ∙ November 26, 2012

After a six-month absence on the Apple watch, Citi has returned - and with a strong recommendation to buy shares of the consumer electronics giant. After hitting a particular rough patch that included a sell-off one observer called "the insanity of insanity", Apple's stock is set to rebound 20-50 percent.

Citi's new Apple watcher, Glen Yeung, told investors Monday that Apple's drop in share price has likely hit bottom. Indeed, in most cases, shares will climb back within twelve months. Yeung said the stock should hit $675...

Disney CEO buys $1M of Apple stock, a vote of confidence amid insane sell-off

Ed Sutherland ∙ Updated January 26, 2016

Disney CEO and Apple board member Bob Iger earlier this week purchased $1 million worth of shares of the iPhone maker, just one week after exercising an option on a million shares for $17.9 million. The move is seen as an attempt by the Disney executive to show confidence during a period of sell-offs one analyst described as "insane".

Iger joined Apple's board of directors a year ago and is credited with healing wounds between the two companies when his predecessor Michael Eisner led the studio. The executive purchased $1 million worth of Apple stock at the time, then worth near $375 per share. Under Iger, Disney has been a loyal supporter of Apple, permitting movies on iTunes during a time when other Hollywood content owners avoided Steve Jobs...

AAPL rebounds from the ‘insanely insane’ sell-off

Christian Zibreg ∙ November 19, 2012

After seeing a quarter of its market cap wiped off as shares hit a half-year low, Apple has finally rebounded as investors return to senses with a big rally on Monday. The unexpected sell-off has been "insanely insane", according to Topeka's Brian White. AAPL hit $565.35 a share in after-hours trading.

It closed at $565.73 a share. All told, AAPL soared today $38.05, or 7.21 percent, its second highest one-day dollar gain since 1984. It also pulled Nasdaq and S&P 500 with it. Though still a far cry from the mid-September high of $705.07, it's a good sign that investors haven't lost confidence in Apple's longer-term prospect, especially after eight straight weeks of losses...

Why did Apple’s recently-minted hardware boss cash in $11M in stock?

Christian Zibreg ∙ Updated July 12, 2017

Dan Riccio, Apple's recently promoted Senior Vice President of Hardware Engineering, sold 20,726 shares of stock in the last two days. The transaction netted him a cool $10.7 million, with a thousand shares worth approximately half a million going to an unnamed charity. That another SVP of Apple is unloading shares (though he didn't touch his stock options) doesn't mean he's potentially being fired, as some critics have jokingly speculated...

Apple’s stock crosses $700 following record iPhone 5 pre-orders

Cody Lee ∙ September 17, 2012

Earlier today, AT&T announced that it set a sales record over the weekend with iPhone 5 pre-orders. Apple also had a record-breaking weekend, recording 2 million iPhone 5 pre-orders in just 24 hours.

Well apparently the early success of Apple's new handset has given investors a boost in confidence in the Cupertino company, as its stock crossed the $700 mark today in after-hours trading...

Wall Street: Injunction or not, Apple wins fight against Samsung

Ed Sutherland ∙ Updated April 10, 2018

Whether or not Apple is granted an injunction preventing Samsung sales in the U.S. doesn't concern Wall Street. Following the iPhone maker's patent-infringement win against the South Korean company, the real question is whether this causes consumers to pause.

"The key question is whether operators/customers will be willing to buy infringing Samsung handsets/tablets if there is risk they may have to stop selling them in the future," writes Wells Fargo analyst Maynard Um. Indeed, Um sees the only risk now facing Apple is whether they'll have enough iPhone 5 handsets to meet "unprecedented demand."

Apple stock closes at all-time high ahead of new product rollouts

Cody Lee ∙ August 16, 2012

Apple's stock price has been on a bit of a roller coaster over the past 6 months. After nearly touching $650 during a mid-day spike back in April, it plummeted below $600, and has hovered around that mark ever since.

But good news for investors, it looks like AAPL is back on the rise again. Over the past few weeks the stock has climbed back above the $600 mark, and today, it closed at an all-time high of $636.34 per share...