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Apple's movement over the past three months has been an exaggerated version of the NASDAQ or the Dow, up a bit around September, down to it's levels of about th

Apple's movement over the past three months has been an exaggerated version of the NASDAQ or the Dow, up a bit around September, down to it's levels of about three months ago. In Apple's case that peak coincided with the my hyped iPhone 5 launch which might explain some of the exaggeration. There are many many people who understand the market better than I do but to me at least this is a complete non-story.

robinjfisher 14y ago
Agreed. Over the last year, Apple's share price has swung widely from $363.32 to $705.07. Surely a more accurate statement would be that the share price has increased dramatically. Swung widely implies ups and downs. The current dip is similar to one seen in April and its share price is still markedly up YoY.
- corin_ 14y ago
  Currently it's hovering around $600, this is $105.07 lower than the high and $236.68 higher than the low. Sure, "swung" may lack the implication that overall the price has been going up, so it's not the complete story, but I think it's fair to say there have been pretty wild ups and downs.
pilsetnieks 14y ago
What if it was NASDAQ or Dow that moved because of Apple? (I suppose Apple is not yet that big but it could happen someday. Maybe a popular stock having much more trades than others could have such impact?)
- radicaldreamer 14y ago
  The NASDAQ does move because of Apple, it's weighted as 19.8% of the index.
chollida1 14y ago
Umm, Apple isn't part of the Dow http://www.bloomberg.com/markets/stocks/movers/dow/ http://www.bloomberg.com/markets/stocks/movers/dow/
- Tyrannosaurs 14y ago
  Provided as a comparison point as to what the US markets are doing generally.
JumpCrisscross 14y ago
The S&P 500, at time of writing, is down 0.26%. AAPL has a coefficient of expected co-movement with the market (ß) of 1.22. Thus, the expected co-movement of AAPL to the market is -0.32%. AAPL is down 1.8%. The remainder would be attributable, given no more information, to non-systemic factors. AAPL currently has an implied volatility of 28.93%. The odds, quick-and-dirty Gaussian [1], of today's return happening by chance is less than 1%. >"Apple's movement over the past three months has been an exaggerated version of the NASDAQ or the Dow" Over the past three months (60 trading days) the historic ß has been 1.26. This would make the systemic portion of today's return -0.33%. Curiously, the historic ß for the past year (250 trading days) has been 0.94. [1] Using a non-Gaussian alpha-stable or asymmetric generalised hyperbolic distro still implies this being a significant event not attributable to market noise (though there is some shadiness happening in the markets today with system's coming online after a non-standard detachment, e.g. KNX declaring self-help)

robinjfisher 14y ago

Agreed. Over the last year, Apple's share price has swung widely from $363.32 to $705.07. Surely a more accurate statement would be that the share price has increased dramatically. Swung widely implies ups and downs. The current dip is similar to one seen in April and its share price is still markedly up YoY.

corin_ 14y ago
Currently it's hovering around $600, this is $105.07 lower than the high and $236.68 higher than the low. Sure, "swung" may lack the implication that overall the price has been going up, so it's not the complete story, but I think it's fair to say there have been pretty wild ups and downs.

pilsetnieks 14y ago

What if it was NASDAQ or Dow that moved because of Apple? (I suppose Apple is not yet that big but it could happen someday. Maybe a popular stock having much more trades than others could have such impact?)

radicaldreamer 14y ago
The NASDAQ does move because of Apple, it's weighted as 19.8% of the index.

chollida1 14y ago

Umm, Apple isn't part of the Dow http://www.bloomberg.com/markets/stocks/movers/dow/ http://www.bloomberg.com/markets/stocks/movers/dow/

Tyrannosaurs 14y ago
Provided as a comparison point as to what the US markets are doing generally.

JumpCrisscross 14y ago

The S&P 500, at time of writing, is down 0.26%. AAPL has a coefficient of expected co-movement with the market (ß) of 1.22. Thus, the expected co-movement of AAPL to the market is -0.32%. AAPL is down 1.8%. The remainder would be attributable, given no more information, to non-systemic factors. AAPL currently has an implied volatility of 28.93%. The odds, quick-and-dirty Gaussian [1], of today's return happening by chance is less than 1%. >"Apple's movement over the past three months has been an exaggerated version of the NASDAQ or the Dow" Over the past three months (60 trading days) the historic ß has been 1.26. This would make the systemic portion of today's return -0.33%. Curiously, the historic ß for the past year (250 trading days) has been 0.94. [1] Using a non-Gaussian alpha-stable or asymmetric generalised hyperbolic distro still implies this being a significant event not attributable to market noise (though there is some shadiness happening in the markets today with system's coming online after a non-standard detachment, e.g. KNX declaring self-help)