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Comment by jonknee | Hacker News Reader

This may be interesting to people. AAPL currently has a 3.38% share in the S&P 500 (VOO, SPY, etc) and a cool 9.72% share in the tech heavy NASDAQ 100 index (QQQ). Should be quite a volatile morning for QQQ.

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I would like to believe it's built-in to a certain extent thanks to the past few months, which includes the warning iPhone sales numbers weren't going to be reported with earnings. Let's say it dives further, since it just went below the 52 week low. Aapl might lose 40-50% of it's all-time high value which seems petty odd. What do I know, though. I've only started following them during the bull run where no one could do wrong. Aapl had increasingly record sales and the stock repeatedly stalled, probably due to fears of what just occurred.

AAPL dove 7.55% in after hours once the news hit, so a large gap down is very likely. Some skepticism was definitely baked in, but this is a very unusual move (no pre quarter warnings since 2002!).

All big tech joined in the selling as well so something like QQQ is going to be hit a lot harder than the S&P (QQQ down over 2% in AH).

Another thing is that yesterday made a triple top on ESH19 at ~2520 on the daily timeframe after all the pension buying last week of dec, so the recent run on equity indices were already facing some pretty stiff resistance.

Yes, the large gap down is a given, since 7.5% was already in after-hours. I guess I was thinking more long-term overall dive than daily. The markets have been pretty volatile for the past month or so. It's odd but a one day 500+ Dow drop isn't really unusual at this point.

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