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Technology Stocks : Apple Inc.
AAPL 270.98-0.3%Jan 2 3:59 PM EST
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To: Doren who wrote (68895)9/19/2007 4:56:20 PM
From: inaflash   of 213177
 
Yeah its weird. Yesterday, even though Apple was up, I thought it was weak. It should have been up more as lower rates mean a weaker dollar hence Apple products would be cheaper overseas.

Apple usually follows the NASDAQ albeit in a magnified way but today's precipitous drop was an anomaly.

I think it must be institutional selling.

Institutions also sell on news :-) One other factor is that some hedge funds were long apple and short market and there may have been some margin call involved given the time the sell off took place. To raise cash, they sold off their apple assets to cover their shorts. This effect could get worse until after Friday.
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