Apple hit new all-time high, got whacked by Facebook overnight — updated

Apple was red in premarket trading today after Facebook fell 20% in yesterday’s aftermarket.

From AAPLInvestors.net: Dates in green indicate closing price was an all-time high at that time.

all-time high

Click to enlarge. 

My take: Why Apple must fall if Facebook fails is a mystery to me.

UPDATE: Forget Facebook, Apple was off to the races in early trading Thursday, setting more new highs. Money moving from one FAANG to another?

7 Comments

  1. John Konopka said:

    As I type this in the morning AAPL is up to 195.23. I think when FB dropped so much many investors just bailed out of all sorts of tech. Google was also down about a percent. Many shareholders are not thoughtful and slow to react to news.

    1
    July 26, 2018
  2. It seems privacy IS a big deal among the public after all. How is this going to impact iPhone sales during the December quarter?

    Could Android and, by extension, Google be toast? Could this be the time for Apple to introduce its own Search or social media engine?

    Bundle access with an Apple Music subscription? Nah, that would get to much DOJ attention.

    1
    July 26, 2018
  3. Gianfranco Pedron said:

    “Why Apple must fall if Facebook fails is a mystery to me.”

    Simple. Because, well, tech stocks. Because FAANG. It would appear many “investors” just learn the buzzwords and couldn’t be bothered to learn more about the fundamentals of each of the constituents of the acronym.

    I’ve met many an “expert” who could whip up a wicked buzzword stew but who couldn’t tell me what any of the actual ingredients were if their lives depended on it.

    1
    July 26, 2018
    • “I’ve met many an “expert” who could whip up a wicked buzzword stew but who couldn’t tell me what any of the actual ingredients were if their lives depended on it.”

      And most of them work for Fortune, Barons, NYTimes, The Verge, WSJ, CNBC, et al.

      0
      July 26, 2018
    • David Drinkwater said:

      There is at least a small amount of “reason” for “because tech stocks”: there are a lot of indexes funds. Any stock that is a part of the target group in an index fund will get somewhat dragged up or down with the rest.

      There’s no logic to it, but it is what it is.

      0
      July 26, 2018
  4. Ken Cheng said:

    Sadly, for many investors, it’s all about momentum, so tech is tech, right? Facebook has privacy issues, turning off users, then they all must have the same problems, so sell it all.

    I suppose leveraged investors, might cash out some winners to cover losers.

    1
    July 26, 2018

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