THE STOCK MARKET CRASH OF 2012: A MASSIVE OF SHOCKS IS HITTING THE SYSTEM
October 9th, 2012
APPLE SHOCK: Apple’s Stock Is Crashing
It seems, just as everyone knew but really did not want to admit, that AAPL is the core (pun intended) of the entire risk-rally. With the re-appearance of the bond-market this morning after their long-weekend, risk-assets everywhere have caught the tech companies’ cold with EURUSD at one-week lows – back under 1.2900, S&P futures tumbling back towards pre-QEternity levels and having wiped out all of last week’s gains, as AAPL is down over 2% (seemingly picking up speed once we noted the 10% iCorrection earlier). Oil is holkding gains while USD strength is sapping Silver, Copper, and Gold’s performance. Treasuries have snapped back to low yields of the day (down around 4-5bps). VIX has snapped back above 16% (up around 1 vol).
So, what’s going on?
Why is the only stock that pretty much everyone agreed was a sure thing suddenly going weak in the knees?
A bunch of likely reasons (If I’ve missed any, please add yours in the comments):