“No Brainer” Apple Extends Losses Despite Analyst Pleas That Guidance “Better Than Feared”

Apple’s (AAPL) guidance was considerably worse than expected, but always spinning positively, analysts proclaim somehow that it was “better than feared.” It appears not as AAPL is now down almost 4% despite every sell-side analyst’s pleas that “the bottom is in.” The ultimate “no brainer” stock is now down over 28% from its highs last year and analyst targets are still at $137 on average – a nearly 50% gain from here. And finally, as if a crashing stock was not enough, Apple’s Safari browser is reportedly crashing if users attempt to search – not a great day for Tim Cook.

It appears Tim Cook forgot to email Jim Cramer about how bad China had become…

We know the conditions in China have been a source of concern for many investors. Last summer, while many companies were experiencing weakness in their China-based results, we were seeing just the opposite with incredible momentum for iPhone, Mac, and the App Store in particular. In the December quarter, despite the turbulent environment, we produced our best results ever in Greater China with revenue growing 14% over last year, 47% sequentially and 17% year-over-year in constant currency. These great results were fueled by our highest-ever quarterly iPhone sales and record App Store performance. Notwithstanding these record results, we began to see some signs of economic softness in GreaterChina earlier this month, most notably in Hong Kong.

Here’s Goldman…

AAPL reported 1Q earnings post close. The bottom line from our trading desk (not GS research): “Results are pretty much smack in line with how most of the street previewed the stock. Our sense is the reaction to the print will be somewhat muted.”

Hhhmmm no…