Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Nov 20, 2018 12:23:39 GMT -8
If I recall correctly, there is a limit to how much Apple can buy on the open market -- 10% of the daily volume.
Of course on high volume, low price days like today...
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Post by appledoc on Nov 20, 2018 12:24:05 GMT -8
Just bought at 176.79. Figure 3-4% more down max before we get a sizable bounce. I could be completely wrong, but it's already hemorrhaged almost 25% since the ATH.
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Post by archibaldtuttle on Nov 20, 2018 12:58:56 GMT -8
Be careful. Nonsensical slumps in AAPL can and have sometimes lasted for a year or more before people get over their fears and positive sentiment returns. Right now, the trailing PE ratio is about 15. I find looking at the chart of AAPL's PE ratio instructive for where we are in the overall cycle of fear/greed. In 2015/2016, the PE slumped for over a year. The PE ratio fell all the way to 11. With current earnings, that would be 122....!!! ycharts.com/companies/AAPL/pe_ratioI agree with the cautious thinking on how long the depressed PE ratio can last. Since I can't help looking at the bright side of things however, I'll just note that Apple's available cash for buybacks is much greater now than it was in '15/'16. I’m not sure that buybacks have had that much of an effect. Look at the latest quarter, blowout earnings but the stock tanks because of an anticipated slowdown in iPhone sales. EPS doesn’t move the stock as much as expectations of revenue and margin.
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Post by appledoc on Nov 20, 2018 16:15:59 GMT -8
Over the last 10 years (or maybe ever) I don't think AAPL has seen such a steep decline in a period of ~6 weeks. Someone can probably look it up better than I can, but looking at the chart, I think that's true.
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Post by sponge on Nov 20, 2018 16:35:35 GMT -8
Over the last 10 years (or maybe ever) I don't think AAPL has seen such a steep decline in a period of ~6 weeks. Someone can probably look it up better than I can, but looking at the chart, I think that's true. On the other side I don't think we have ever gone up as much from May to Sept as well. It was a 30% move.
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