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China to close market this week to honor WW II
CNN shakes up GOP debate criteria
Pope puts abortion forgiveness on the table
Survey may confirm our worst gender fears
GE names first female vice chair
Amgen finds data falsified in diabetes study

NYSE invokes Rule 48 before market open

McDonald’s set to offer all-day breakfast


 
Uber drivers lawsuit  endangers much more than Uber
Uber driver suit can proceed as class-action

Never use a market order when stocks are selling off

Texas edges out North Dakota in this oil list

Where every Fed member stands on raising rates

Rate-hike question is what Yellen didn’t want
Boston Fed president: Sept. doubt remains

New on the shelves of your local Apple Store: drones

Annie Leibovitz is working on UBS’s image

How LVMH poached Apple digital exec Ian Rogers

What to expect at September Apple event
What to expect from the Apple event on Sept. 9
Apple talks to Hollywood for exclusive content
Apple, Cisco team to put business users on iOS
Apple will let iPhone and iPad users block ads
Lost Apple deal leads to 40% job cut at GT

Yahoo CEO Marissa Mayer
Yahoo CEO Marissa Mayer pregnant with twins

Canada’s economy enters recession — arguably

Construction laborers work on the top floor of a high rise apartment building in New York.
Building is emerging as strongest sector of economy
U.S. manufacturing growth at 2-year low: ISM

How China turned minor yuan issue into global rout
Chinese factory data pull Asian shares lower
Beijing bumbling is China’s biggest problem

These are the cars that get the most Instagram attention

Best time to buy a new car may be just around the corner
U.S. car sales are stronger than expected

10 cities in U.S. with the very worst traffic problems
Lowest Labor Day gas prices in 11 years: AAA

Trump says Mount McKinley name change ‘insult to Ohio’
Trump: Switch to Denali is ‘insult to Ohio’
Mount McKinley in Alaska is renamed Denali
Which U.S. president has the tallest mountain?

Classified details blacked out in new Clinton emails
Classified details blacked out in new emails
Clinton says she supports ‘revolving door’ bill
Biden a tougher matchup than Clinton: poll

Unlucky lottery winner gets IOU from Illinois

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Markets »

171.39MDow Volume:
Avg Vol: 111.86M
Unchanged
163
Decliners
5264
Advancers
1172
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,058 -470 2.84%
Nasdaq
/quotes/zigman/12633936/realtime 4,636 -140 2.94%
S&P 500
/quotes/zigman/3870025/realtime 1,914 -58 2.96%
GlobalDow
/quotes/zigman/629063/realtime 2,293 -2 0.09%
Gold
/quotes/zigman/662444/delayed 1,141 +1 0.06%
Oil
/quotes/zigman/2331095/delayed 44.33 -1.08 2.38%
FTSE 100
/quotes/zigman/3173262/delayed 6,059 -189 3.03%
DAX
/quotes/zigman/2380246/delayed 10,016 -244 2.38%
CAC 40
/quotes/zigman/3173214/delayed 4,541 -112 2.40%
FTSE MIB
/quotes/zigman/1482176/delayed 21,451 -491 2.24%
IBEX 35
/quotes/zigman/2759620/delayed 9,993 -266 2.59%
Stoxx 600
/quotes/zigman/2380150/delayed 353 -10 2.73%
Asia Dow
/quotes/zigman/6959860/realtime 2,712 -6 0.22%
Nikkei 225
/quotes/zigman/5986735/delayed 18,095 -70 0.39%
Hang Seng
/quotes/zigman/2622475/delayed 21,143 -42 0.20%
Shanghai
/quotes/zigman/1859015/delayed 3,147 -19 0.61%
Sensex
/quotes/zigman/1652085/delayed 25,678 -18 0.07%
Singapore
/quotes/zigman/1709939/delayed 2,897 +14 0.50%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.31%
Yen
/quotes/zigman/16008150/realtime/sampled 120.09 +0.72 0.60%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 +0.00 0.03%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 +0.00 0.26%
DXY Index
/quotes/zigman/1652083/delayed 95.62 +0.24 0.25%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.35 +0.18 0.21%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 +0.00 0.13%
German 10y
/quotes/zigman/15866409/realtime 0.80 +0.00 0.29%
Italy 10yr
/quotes/zigman/15866497/realtime 2.00 0.00 0.00%
Spain 10yr
/quotes/zigman/15866444/realtime 2.14 +0.08 3.76%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.83 -0.02 1.25%
Japan 10yr
/quotes/zigman/15866525/realtime 0.40 +0.04 11.00%
Crude Oil
/quotes/zigman/2331095/delayed 44 -1 2.38%
Gold
/quotes/zigman/662444/delayed 1,141 +1 0.06%
Corn
/quotes/zigman/7599553/delayed 371 +2 0.54%
DJIA F
/quotes/zigman/38649152/delayed 16,242 +155 0.96%
S&P F
/quotes/zigman/30356461/delayed 1,936 +20 1.05%
Silver
/quotes/zigman/3134148/delayed 15 0 0.38%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 87.23 -2.20 -2.46%
AAPL /quotes/zigman/68270/composite 107.72 -5.04 -4.47%
GOOG /quotes/zigman/30194416/composite 597.79 -20.46 -3.31%
BAC /quotes/zigman/190927/composite 15.58 -0.76 -4.65%
C /quotes/zigman/5065548/composite 50.94 -2.54 -4.75%
F /quotes/zigman/264304/composite 13.72 -0.15 -1.08%
T /quotes/zigman/398198/composite 32.32 -0.88 -2.65%
BP /quotes/zigman/247026/composite 32.14 -1.40 -4.17%
GE /quotes/zigman/227468/composite 23.88 -0.94 -3.79%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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What to Make of Apple’s Plunge

Apple’s stock fell for a fifth consecutive day Monday, losing 4% to close at $580 and change. But shareholders shouldn’t lose sleep.

The tech giant has now dropped nearly 9% since April 9, when it closed at an all-time high of over $636. The move far exceeds the 1% decline during the same stretch for the broad Standard & Poor’s 500-stock index.

Analysts blame Apple’s slide on profit taking and earnings-season angst. But the numbers say neither is a good reason to sell.

Consider Apple’s second-fiscal-quarter earnings report on April 24. Wall Street expects it to earn $9.92 per share, down from the $13.87 earned during its first quarter but sharply higher than the $6.40 it earned in the second quarter a year ago, according to FactSet.

“The iPhone has become Apple’s biggest product, and we’re halfway between the iPhone 4s launch and the iPhone 5 launch,” says Michael Walkley, who covers the stock for Canaccord Genuity. “Investors may be selling the stock because they think iPhone sales for the quarter will underwhelm.”

The iPhone 4s launched in the United States in October 2011. Although Apple hasn’t announced its next model, since the original iPhone’s launch in summer 2007, the company has tended to offer new models every year or so.

History doesn’t favor investors who bet on an earnings-day decline for the stock. Over the past five years, the shares have jumped an average of 3.8% on second-quarter earnings reports, according to FactSet data. Apple topped earnings estimates by an average of 21% during that period.

Nor does the stock’s valuation seem to call for profit-taking. Apple’s stock price doubled since September 2010, but its earnings per share also more than doubled since then. Shares look affordable relative to the company’s income and the broader stock market.

Apple sells for 13 times Wall Street’s forecast for its calendar 2012 earnings per share. That’s on par with the price-to-earnings ratio for the S&P 500, of which Apple is the largest member by stock market value.

Apple holds cash and investments equal to nearly one-fifth of its stock market value. In March the company announced it will begin paying a dividend of $2.65 per share, per quarter, later this year.  That works out to a 1.8% dividend yield, calculated against Monday’s closing share price–and Apple can afford plenty more (see “Why Apple ‘Record’ Dividend Looks Stingy”).

Mr. Walkley sees the stock’s recent decline as a buying opportunity. If there’s trouble brewing, it’s not reflected in earnings estimates. Forecasts for Apple have moved higher in recent weeks, even though those for the broad market have been falling.

Not all investors will want to use the stock’s decline as a buying opportunity. With Apple making up about 4% of the S&P 500 index, investors who own broadly diversified mutual funds already have plenty of exposure (see “When Will Apple Hit $1,000 a Share?”).

That’s especially true of those who own technology funds. Over the past five days, the S&P 500 tech sector is down 2.5% including Apple, but just 0.6% without it, according to Howard Silverblatt, senior index analyst at S&P.

But for those who’ve coveted even more exposure to Apple than they already have, the past week’s sell-off might be just the opportunity.

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MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

London Markets Open in:

need to know
China to close market this week to honor WW II
CNN shakes up GOP debate criteria
Pope puts abortion forgiveness on the table
Survey may confirm our worst gender fears
GE names first female vice chair
Amgen finds data falsified in diabetes study

NYSE invokes Rule 48 before market open

McDonald’s set to offer all-day breakfast


 
Uber drivers lawsuit  endangers much more than Uber
Uber driver suit can proceed as class-action

Never use a market order when stocks are selling off

Texas edges out North Dakota in this oil list

Where every Fed member stands on raising rates

Rate-hike question is what Yellen didn’t want
Boston Fed president: Sept. doubt remains

New on the shelves of your local Apple Store: drones

Annie Leibovitz is working on UBS’s image

How LVMH poached Apple digital exec Ian Rogers

What to expect at September Apple event
What to expect from the Apple event on Sept. 9
Apple talks to Hollywood for exclusive content
Apple, Cisco team to put business users on iOS
Apple will let iPhone and iPad users block ads
Lost Apple deal leads to 40% job cut at GT

Yahoo CEO Marissa Mayer
Yahoo CEO Marissa Mayer pregnant with twins

Canada’s economy enters recession — arguably

Construction laborers work on the top floor of a high rise apartment building in New York.
Building is emerging as strongest sector of economy
U.S. manufacturing growth at 2-year low: ISM

How China turned minor yuan issue into global rout
Chinese factory data pull Asian shares lower
Beijing bumbling is China’s biggest problem

These are the cars that get the most Instagram attention

Best time to buy a new car may be just around the corner
U.S. car sales are stronger than expected

10 cities in U.S. with the very worst traffic problems
Lowest Labor Day gas prices in 11 years: AAA

Trump says Mount McKinley name change ‘insult to Ohio’
Trump: Switch to Denali is ‘insult to Ohio’
Mount McKinley in Alaska is renamed Denali
Which U.S. president has the tallest mountain?

Classified details blacked out in new Clinton emails
Classified details blacked out in new emails
Clinton says she supports ‘revolving door’ bill
Biden a tougher matchup than Clinton: poll

Unlucky lottery winner gets IOU from Illinois

/conga/frontpage.html 353884

Markets »

171.39MDow Volume:
Avg Vol: 111.86M
Unchanged
163
Decliners
5264
Advancers
1172
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,058 -470 2.84%
Nasdaq
/quotes/zigman/12633936/realtime 4,636 -140 2.94%
S&P 500
/quotes/zigman/3870025/realtime 1,914 -58 2.96%
GlobalDow
/quotes/zigman/629063/realtime 2,293 -2 0.09%
Gold
/quotes/zigman/662444/delayed 1,140 +1 0.05%
Oil
/quotes/zigman/2331095/delayed 44.31 -1.10 2.42%
FTSE 100
/quotes/zigman/3173262/delayed 6,059 -189 3.03%
DAX
/quotes/zigman/2380246/delayed 10,016 -244 2.38%
CAC 40
/quotes/zigman/3173214/delayed 4,541 -112 2.40%
FTSE MIB
/quotes/zigman/1482176/delayed 21,451 -491 2.24%
IBEX 35
/quotes/zigman/2759620/delayed 9,993 -266 2.59%
Stoxx 600
/quotes/zigman/2380150/delayed 353 -10 2.73%
Asia Dow
/quotes/zigman/6959860/realtime 2,712 -6 0.22%
Nikkei 225
/quotes/zigman/5986735/delayed 18,095 -70 0.39%
Hang Seng
/quotes/zigman/2622475/delayed 21,146 -39 0.18%
Shanghai
/quotes/zigman/1859015/delayed 3,147 -19 0.61%
Sensex
/quotes/zigman/1652085/delayed 25,680 -16 0.06%
Singapore
/quotes/zigman/1709939/delayed 2,897 +15 0.51%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.31%
Yen
/quotes/zigman/16008150/realtime/sampled 120.10 +0.72 0.61%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 +0.00 0.03%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 +0.00 0.24%
DXY Index
/quotes/zigman/1652083/delayed 95.61 +0.24 0.25%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.35 +0.18 0.21%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 +0.00 0.13%
German 10y
/quotes/zigman/15866409/realtime 0.80 +0.00 0.29%
Italy 10yr
/quotes/zigman/15866497/realtime 2.00 0.00 0.00%
Spain 10yr
/quotes/zigman/15866444/realtime 2.14 +0.08 3.76%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.83 -0.02 1.25%
Japan 10yr
/quotes/zigman/15866525/realtime 0.40 +0.04 11.00%
Crude Oil
/quotes/zigman/2331095/delayed 44 -1 2.42%
Gold
/quotes/zigman/662444/delayed 1,140 +1 0.05%
Corn
/quotes/zigman/7599553/delayed 371 +2 0.54%
DJIA F
/quotes/zigman/38649152/delayed 16,242 +155 0.96%
S&P F
/quotes/zigman/30356461/delayed 1,936 +20 1.04%
Silver
/quotes/zigman/3134148/delayed 15 0 0.41%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 87.23 -2.20 -2.46%
AAPL /quotes/zigman/68270/composite 107.72 -5.04 -4.47%
GOOG /quotes/zigman/30194416/composite 597.79 -20.46 -3.31%
BAC /quotes/zigman/190927/composite 15.58 -0.76 -4.65%
C /quotes/zigman/5065548/composite 50.94 -2.54 -4.75%
F /quotes/zigman/264304/composite 13.72 -0.15 -1.08%
T /quotes/zigman/398198/composite 32.32 -0.88 -2.65%
BP /quotes/zigman/247026/composite 32.14 -1.40 -4.17%
GE /quotes/zigman/227468/composite 23.88 -0.94 -3.79%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
Please log in to view your watchlist
MarketWatch Portfolio

World News from MarketWatch

Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/12221594/composite AMBA-6.30%
  • /quotes/zigman/15952148/composite OVAS-10.65%
  • /quotes/zigman/413712/composite USO-6.80%
  • /quotes/zigman/88601/composite WYNN-5.41%
  • /quotes/zigman/19622165/composite BBRY-3.29%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

MarketWatch will continue to provide the same important news and information you rely on every day. And, as a MarketWatch user, you will be able to enjoy:

  • Personalized news and quote email alerts
  • Editorial e-newsletters about personal finance, mutual funds and market-specific coverage
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