Here is a one-month stock chart comparing Apple (down 40 percent), Google (down 20 percent), Yahoo (ditto), and Microsoft (down about 10 percent). Microsoft is holding up best. If Yahoo keeps diving, what next?
Discuss among yourselves.
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It’s tempting to buy apple at this low price….
Uhm, no.
uhm, yes. its the same company it was 1 month ago, its just worth 40% less according to everyone else and its falling for no apparent reason. the same with google.
apple has $20 billion cash on hand and their market value dropped to $80bn, thats ridiculous. best time to buy and ive bought about 20K worth of apple shares yesterday. holding onto it for the long run, 2-3 years.
Mitch you are exactly right. Lots of cash and no debt. that’s who you should be buying.
they will mop up on all the under-capitalized or debt-laden companies going forward.
MSFT, GOOG, AAPL, have north of $50B in cash amongst the three of them and no long-term debt
that’s the play in this market….
Especially with talks of their speculative sub-$1000 laptop release.
Why is sub $1000 such big news? Under $1k isn’t going to tempt people when Dell is selling laptops that are sub $400
“uhm, yes. its the same company it was 1 month ago, its just worth 40% less according to everyone else and its falling for no apparent reason.”
News flash – the economy is in trouble, consumer spending is dropping like a dead bird. While the company might still make a sound product, if nobody is going to buy it then its earnings aren’t going to justify a high stock price.
From where I’m sitting it would probably be smarter to short sell it, because this market isn’t turning around anytime soon and things are going to get worse before they get better.
Agreed, go short now. Go long when it’s bottomed… whenever that will be.
I guess all those trendy apple fanboys don’t have the cash to buy $600 iphones with $1000 apps after having thier houses forclosed on and losing thier jobs in the financial market. Sad day for them. The trend is over no more iphones and $10 coffees from Starbucks.
Speaking of $10 Starbucks, I wonder how many people head for the McD’s Drive Thru instead and pick up the 2 liter Vanilla Iced Coffee for $2 and change?
Seriously? Have you tried that? It’s disgusting. One time I picked one up and because they were out of liquid creamer they desided to use a bunch of powdered creamer packets. I think that was the last time I thought of buying one. Now don’t get me wrong I like Starbucks they really do have QUALITY coffee and it has a MUCH higher caffine level than most coffee. It’s just that they make those fuffy drinks that are mostly milk and sugar and you can’t taste the coffee. I don’t mind the occasional frapachino but it’s like $10 for vente!
If you are a coffee lover though and want a good cup of black coffee Starbucks does reasonably charge about $2 for a Vente of house blend.
Ok enough of my rant the moral of this post is… close down three of the four Starbucks on every corner and charge me less for coffee and keep the quality up!
starbucks? good coffee? Lay off whatever your on… it’s way too strong to be healthy…
Heuuu excuse me? Starbucks… good coffee?
Well, if you live in Europe where you can get a proper espresso in any bar or restaurant for something like 3$…. You’d never call a Starbucks coffee good.
We have got 1 Starbucks where I live (I know it’s a pretty remote place), that is the last place where I would like to have a coffee.
All people who own Apple products or own Apple stock are not “fanboys”. Every time somebody says “fanboy”, I think about pistol-whipping.
Apple is probably a good buy right now. They have piles of cash reserves and the credit Crunch won’t affect their day-to-day operations much.
Hi Erick,
I have to say that all of the news of late is certainly intimidating from our vantage point. We’re a small start-up. We’re bootstrapped, relying primarily on the revenues from our service offering to keep afloat (we also run an interactive agency). We’ve started to look at the possibility of finding some kind of funding, but have been slow to do so. (Perhaps too slow, as it certainly seems like we’ve clearly missed the boat given the panic out there.)
The thing that I keep asking — and perhaps I’m wrong in this — is whether people like us should in some respects just put our blinders on, keep working, and try to ignore the storm as much as possible? I recently read a comment in a Paul Graham essay, in which he noted that the problem with running out of money isn’t that you run out of money, but rather that the fear tends to stop you from working. (I’m paraphrasing liberally here.)
So, sure, all of the stock values above feel like a rug being pulled, but should they? Eventually, however, it will go back up again, just as it did after 2000, won’t it? (Am I totally bonkers to think so?) My feeling right now is to simply concentrate on survival. As a start-up, this isn’t terribly different from any other time. (Most of us are never that far from the edge anyway.) Perhaps we have to look at this as a place to tighten our belts, hold-on to something tight, and just hope we’re still here once everything shakes out.
Then of course, perhaps I’ll be filling your order for fries at McDonald’s in six months, and you’ll be laughing at my naivete.
Cheers!
Eric
BTW: On a lark I started this topic at MakeFive. When all’s going for crap, a laugh might not hurt, right? http://tinyurl.com/4u5ugg
If you’ve got the cash and a low burn rate, then putting the blinders on is probably the best thing you can do. Not everyone will be so fortunate.
I can’t say that we really have the cash, but we sure do try to squeeze every last drop out of it. Along the way, our service end of things should prop us up, but that area is rather glum looking as well. (In markets like these, I get the feeling that marketing budgets will be the first to go.)
Looking at the headlines gives me the creeps, but with only four people in our company at least we’re pretty much down to the bone anyway.
By the way, I posted some more thoughts about this on my blog. I hope this doesn’t seem “spammy”–it’s just one of those topics that I started writing about that turned out to be a little too long to leave in a comment field.
If you’re interested, you can read it here: http://www.idea...he_sky_falling/
Now I’ll go back to biting my nails.
errr…. isn’t this a prime example of : “Some Big Sites Are Using Google Trends To Direct Editorial?!?!?”
No, it’s just me looking at some stock charts and sharing. Surprisingly, the meltdown isn’t even registering on Google Trends right now:
http://trends.g.../hottrends?sa=X
What is being overlooked is that MSFT has gone down from $32 at the beginning of the year (pre-YHOO-bid) to below $24. That’s a 25% drop right there.
Read about the loss of faith in MSFT by some major hedge-funds here:
http://www.alle...crosoft-ballmer
“… Since then, management has acted in an overaggressive and almost panicky fashion regarding its online offering. First, it sought to acquire Yahoo! and then after that failed, it announced extremely high internal investment requirements to pursue this “huge” opportunity (read: “Google-envy”). We doubt the opportunity is what they say it is and wish MSFT focused on its core strength: software.
The CEO is a very smart and very wealthy man. Perhaps, he is so wealthy that he has bigger ideas and aspirations than making MSFT’s shareholders wealthier. We’ve given up on MSFT for now…”.
BTW, I believe the only thing that is propping up the stock today is the relatively good news about XBox sales after the price cut to below $200. Best thing that MSFT has done in a long time…
I think of those mentioned, Apple has the most upside & best fundamentals (eg, is most undervalued).
In the personal computer market, they can continue to grow share…it’s not the *price* of the computer that matters to most people, it’s the *value* they get from their machine. Two totally different issues.
Even in a recession, people still purchase based on *value* NOT on *price*…only the lowest economic bracket actually worries about the price of a purchase, anybody with brains & income cares about value.
YHOO would be a good buy, if they could pull their heads out of their a$$es. Fundamentally, they need to drop paid inclusion (their stock is already tanking, one more thing gone won’t hurt right now), then they need to re-focus on giving people a *great* reason to use Yahoo. Personally, I don’t have a reason to use any of their products, and I worked there for nearly two years, and consulted with them for a year after I left.
It sucks, really. Everybody I still talk to that worked there cries about their potential, and how they can’t get over themselves to realize it.
well Yahoo Pipes is great … I just love it!
Jeremy, what’s your obsession with paid inclusion? End users don’t care about it.
both Google and Yahoo are broken stocks and broken companies.
Financial engineering, led by Mr. Greenspan himself, blew a massive credit bubble, supported by exactly nothing in the real world. Until that bubble is done deflating, I think you would be wise to stay away from equities.
We are a long way from the bottom. If the children in DC were locked up and the adults were allowed to restore regulation and trust to the financial markets we could get there a lot sooner, but the circus is still in session.
I guess situation is going to be much worse in coming time. Every one is confused about what to do in this global financial slowdown.
Stocks will eventually recover, just like last time.
I just hope that McCain’s $300B bailout doesn’t happen. Maybe I’m biased because I rent (as I imagine do a lot of the readers of this blog because of the still high real estate prices in SV).
The government should not be in the business of artificially propping up real estate prices, which at least in SV, are still high relative to peoples earnings by historical (> 10 years) standards.
Long term I see this as a good thing for tech. We don’t need so much of the nations capital tied up into a commodity product like housing. Maybe if some of that money is freed up it can go back into funding innovation.
McCain’s “$300B bailout” is not a new idea by ANY means it’s been floating out there for a while and generally deemed at not all the good of an idea at this time. Additionally it won’t ‘artifically prop up real estate prices’ in fact it basically will ‘buy them down’. As I understand it if you purchased your house for say $500,000 and the current real estate value is only $250,000 the government would buy you loan from the bank. REVALUE your loan to $250,000 and eat the other $250,000. They would then structure you loan for the value of $250,000 and you would be making payments for $250,000 instead of $500,000.
Of course I am sure the loans would them be shopped around and resold to other banks and lenders as part of securities and such…
Hope that helps clear things up for you.
I understand all that. But of course it will prop up real estate prices.
Without revaluing your loan to 250,000 (i.e. essentially giving current home owners 250K) the said homeowners would perhaps be forced to sell their house and move into something that they can afford, or maybe rent. Hence, that would reduce the price of houses by increasing the supply.
Basic economics. Hope that clears things up for you
More than one financial analyst and investment manager has said that this period of time is a once in a lifetime buying opportunity. This includes California real estate. Unfortunately we won’t know the bottom until it has passed.
Apple at this level is a 5 to 10 year buy and hold.
Yahoo is a 15 to 20 percent Day Trade
MySpace launched their music platform at the wrong time
Microsoft, Cisco, and IBM will begin the consolidation process and begin buying companies that they find attractive.
ouch and that is why i sold early… i’d rather take the small with ratehr then the big loss…
All 4 have “exposure” to reduced consumer spending. Arguably Apple has the most exposure, as their products are generally priced “above average” – and if people go bargain hunting (you get what you pay for), they’ll still need Microsoft (or Linux), and everyone still needs Google and Yahoo. The relative prices seem accurate as to how “essential” these 4 are in “tough economic times”…
yeah, yeah, and there was a time when akamai was at 56 cents…what you should do is put up a survey asking readers about short and long term confidence in these stocks based on industry of employment, age range and income bracket – now that would be interesting, you’ve got more than enough readers to do it…
i’m inclined to believe that a 23 year old googler is less fixated on long term value than a 58 year old apple exec…
YHOO- Yang is a dope and so is Decker, end of story.
Starbucks- WTF is Vente anyway? What, are we all Italian now? It’s a LARGE guys, quit with this Vente, Grande lingo. Act like men, American men fellas!
Large coffee with cream please.
One more time people – Gold. Physical, bullion, under the mattress.
Why not include IBM to show an upward trend and provide an antidote to fear and negativity?
The initial reaction of every person affected by this recession is to cut back spending on discretionary costs while maintaining a healthy baseline for the things we all need, like food, clothing, shelter, transportation, etc. It’s a good thing for each of us in our personal finances but a bad thing for the global economy. Here’s why: while literally everyone is cutting back spending to firm up their monthly income/expenses, companies focused on providing those discretionary products are getting killed (such as Apple) in the short-term, simply because the media has caused us all to fear the worst. The overall result is a domino effect of failing business and massive job losses.
In an ideal society, everyone would continue to spend normally in order to keep those businesses from slowly being choked out by a stagnant economy. Sure, the initial reaction of most is to freeze spending, analyze budgets, make necessary cuts, and slowly start to pay off any outstanding debts in an effort to stabilize their own situations. It’s great that we are starting to realize the brutal effect of overextending ourselves through credit cards and interest-only loans, but it’s too little, too late to overcome without an extended recession.
The credit market needs to reset and come out smarter while consumers need to be more cautious when taking on loans and mortgaging their future for short-term relief.
a simple bubble being deflated. they were over blown from the get go and can afford to come back to reality.
BankerLocator.com
Good time to buy Google and Apple stocks..
http://gatesand...s.blogspot.com/
if apple has so much cash reserve why dont they buyout some stock?
My thoughts on AAPL (from my blog: http://waynepan...-bargain-at-90/ )
……
I think it’s a bargain at this price, why? Simple…
It was $90 pre-iPhone.
That’s right, AAPL was hovering around $80 before MacWorld 2007, where the iPhone was announced. What’s happened since then? Apple has launched 2 versions of the iPhone in 50+ countries and essentially created an entirely new business for themselves with the AppStore.
They’ve also hit a record high in PC market share (~8%) and that will only continue to grow as the iPhone’s halo effect continues.
Really makes me wish I had a big wad of cash to invest!
Four tough days for the market and more to come. Investors really need to make changes to their investing strategy if they have not already. This means move money into T-bills and municipal bonds and invest some overseas to guard as a hedge against the coming inflation of the US dollar. I use offshore bank accounts for this and they have helped me. If you would like to learn more, feel free to visit my site.
Best,
Frank Miller
http://www.theo...bankaccount.com
how do these compare to the rest of the market?
oh, never mind. that would be boring.
AAPL is a strong sell. We are heading towards a depression. People won’t be worrying about how cool their cellphone or laptop looks when they are standing in line at a soup kitchen. Such snobbish and overpriced machines Apple makes.
The whole of silicon valley is going bankrupt. Only Google will survive cause Obama will use Google technology to change the world.
Reason Apple, Intel, Microsoft, HP and Yahoo are going bankrupt is cause their products totally suck. It’s not only the capitalistic collapse, it’s the realisation that they have no good products, they are just a bunch of monopolistic coorporations that have abused of their power during the last 15 years to force their crappy products on the populations.
I’m totally buying google,
http://www.iphone4um.com
I think goog will see $300 yhoo will see $10
Yahoo shareholders and employees are super-pissed now and wish they had taken the MS deal. That’s maybe why MSFT is holding up nicely.
Hey where did that stock picture come from? Google Finance?
100% they are just a bunch of monopolistic coorporations that have abused of their power during the last 15 years to force their crappy products.