Besides the airlines this cycle (AAL down $13 since earnings) AAPL has taken it on the chin with shrinking iPhone and iPad sales. The big one is the iPhone which generates most of AAPL’s dollars. Newsy rumors today that AAPL vendors are expecting much smaller orders cratered AAPL stock. This is after a rough ride from $100 after earnings. For a company that has mostly done everything right since 2000 it is a tough road.
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As I write this Greece defaults on debt to the IMF and sends its citizens into some uncharted waters. The SPY is up .25 from the close so it is a safe bet for now that US stocks don’t care anymore. The game is ending and is about to play out with a referendum this weekend. It would not surprise me to see stocks start a rally again and end up at new highs after the labor reports this week. Another surprise was the jump in AAPL IV on a down volatility day in the market.