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David Schwartz
January 17, 2013 at 12:15 am
Shares of Apple appear as if they are being manipulated. On Sunday night, when Apple stated that they would be cutting parts that they receive from their iPhone suppliers by up to 50%, no mention was made of this on Bloomberg or CNBC, starting around midnight Pacific coast time. The share price dropped like a rock on Monday and Tuesday. Then in Tuesdays afterhours trading session, I saw hundreds of bids being placed at $4, or more a share, above the closing price. Why? If investors didn't want to buy the stock at $485, who in the world would want to buy it for $490 a share, or more, in Tuesday's afterhours trading session? Then today, Wednesday, the stock opened at only $492 a share. Who in the world was buying the stock for $500 a share, and more, once the trading day progressed? Since the S&P 500 took a hit from shares of Boeing today, it almost appears as if someone is trying to offset the weakness in the S&P 500 by driving up the price of another stock. If not, then how come shares a Apple took a big hit on Monday and Tuesday, but the S&P 500 did not?
I live out on the west coast. Many nights, such as Monday and Tuesday, when I go to bed at 2 o'clock in the morning, the futures are trading much lower. Yet by the time I wake up, the market is trading flat!
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