apple hits 700 again. but it's a short-term bottom. >> the relative strength in apple hit the weakest point. we saw a quick 15% rally. apple such a big component of the market, everybody sitting here assuming that the market's movements are just out of the vagaries coming out of washington. i suspect a lot of what we saw later in the day had a lot to do with this stock. people who watch the know know i've never been an enthusiastic apple buyer. but i started watching, my sense was that the market was probably going to start following apple's lead. >> early in the session it was down 2%. if you look at the intraday chart on apple, you can see what the analysts are pointing out in terms of the big swing in the middle of the day. >> i think that was the volume anyway was largely due to fact we had options expiration today. i don't think it was the exhaustive selling that defines capitulation. >> people are hoping, hoping and that's not a great investment thesis that apple will start buying back shares. i don't think this is the sort of thing where you say, this is the bottom, i feel good about g

i would actually recommend the apple iphone 5. off the s3 was not even that great for making telephone calls. it dropped a lot of phone calls and at the--people were saying that it was difficult to hear me. however, not with the iphone 5. at the end of the day it was a deal breaker so i would advise to take the iphone 5 over the galaxy s3. keep slate, kron 4. >> coming up later, the latest on alex smith. his >> coming up later, the latest on alex smith. his concussion in the rockies on our newly expanded advanced digital network, a connection you can count on. introducing at&t u-verse high speed internet with more speed options, reliability and wi-fi hot spots than ever. call at&t now to get u-verse high speed internet for as little as $14.95 a month for 12 months with a one-year price guarantee. it's the fastest internet for the price. our newly expanded advanced digital network gives you more of what you enjoy online. and with at&t, our wireless gateway turns your home into a private wi-fi hot spot that connects your wi-fi device

it's the first major expansion into santa clara by apple. >> reporter: it's just a hole in the ground now but apple is investing in two buildings with 300,000 square feet on north stevens creek boulevard near the cupertino border. it will be the future workplace for 1200 apple employees. >> it's exciting because what it says is apple is recovering and continuing to move and expand and grow and we are excited to be part of it. >> reporter: the ink isn't dry on plans for apple's round glass spaceship building to replace its main headquarters in cupertino and the company has already gobbled up space in sunnyvale, now santa clara. a real estate broker says that can only help the lackluster market. >> san jose is next in line and we are starting to feel that interest from tenants coming into this marketplace and so the expansion is continuing southward and eastward. >> reporter: it is a major coup for santa clara with the new 49ers stadium under construction, the city expanding its profile if not its footprint. >> we are considering about 19 square miles but we are using them to the maximu

. >> reporter: from the victoria's secret's pink, to the apple store, people are enthusiastic about buying and it shows. david vaton is on the hunt for an ipad mini and he says when it comes to getting a good deal, sleep is overrated. >> i stayed up the whole night, i did not go to sleep at all. today, so it's been a really long night. >> i got up at 2:00 in the morning. i probably got like five hours of sleep but i'm awkwardly awake right now. >> how much do you expect to save? >> well i just saved 50 bucks on this jacket. i don't know, maybe another hundred, save about $150. >> reporter: more than 145 million people are expected to go shopping this weekend, and while that's slightly less than last year's estimate, retailers are still feeling upbeat about the state of the consumer. stores often make more than a third of their annual sales during the christmas holidays and black friday is seen as a good barometer on the season. >> i think it creates the momentum for the rest of the season and by the looks of it this year i think we're going to have a great season. >> reporter: and when it

we are on the ground in the hardest hit communities. >>> and, biting apple. lukewarm sales for the new ipad mini. stock prices crumbling to a five-month low. are competitors finally getting the best of the house that jobs built? >> announcer: from the global resources of abc news, with terry moran, cynthia mcfadden and bill weir in new york city, this is "nightline," november 7th, 2012. >> good evening, i'm bill weir. well, as the happy obama family flew back to washington today, a few conservative pundits observed that if only america had the same demographics as it did under ronald reagan, mitt romney would have won. yes. and if jonie loves chachi was still in primetime, people wouldn't laugh at my parachute pants. the country is changing in waves. and what last night taught us is that the party that knows how to ride those waves wins. here's my co-anchor, terry moran. >> reporter: america awakened to a new political reality this morning. >> what happened? >> i was wrong. >> reporter: so were a lot of republicans. >> i so wish that i had been able to fulfill

>>> not as much enthusiasm for the apple ipad mini based on the shorter lines for an apple product release. i'm bob redell. >>> the latest jobs report is out. we will let you know what impact it will have on tuesday's election. >>> get ready for a heat wave. christina loren will tell us where we can expect to see and feel record numbers. the news at 11:00 starts now. >>> good morning. thanks for being with us. i'm marla tellez. >> i'm jon kelley. we start this morning with breaking news out of san francisco. it has been nothing short of a nightmare commute for muni riders. trains back up and running in an half hour. all lines have been shutdown at west portal and embarcadero after reports of a body laying on the tracks. we have christie smith with the latest. >> reporter: good morning, and marla. this was a rough start to the morning commute. trains not running for three hours this morning. within the last 30 minutes, things turned around. about 160,000 commuters use the route each day and half were inconvenienced. emergency trucks lined market street this morning near the montgomery stati

the s&p loss is apple. that's why we talk about the stock. dr. j, apple. you don't have a position. why not? >> i don't have a position yet. it's getting very tempting here. because this area right around 520 to 540 for me is a key level for apple. that basically takes us to the march lows, to that first rally that carried us to march when apple made the first move. they had just reported in the december quarter about 36 million iphones. they came back and reported whatever it was, 35 million in march. since then the stock waffled until the surge up to 700. now we have basically retraced all the way back down to that level. that's why that level is interesting to me, especially in light of the predictions for 46 million iphones for this holiday season. based on them having enough to sell, i think they could meet that number and then the question is, is the ipad mini a winner for them? how much does it cannibalize the other ipad? this is an area i could get interested in buying but no position yet. >> the ral

we know about the windows 8 launch, the new apple look alike stores in the malls. i think this is a compelling story for 2013 and beyond. it is very cheap and i think these guys will know what to do with their cash post fiscal cliff or i think this will be a safe haven. >> will they aggressively buy back stock if there is no relief? is there cash here? >> there is less cash here. i do believe that they want this stock to go up next year. i do believe that they have the product cycle story right as it relates to the operating system. and i do think that they will use whatever cash they have available here in the u.s. to soak up shares. you probably won't see a dividend increase. i do like the stock a great deal. i think it is very, very cheap. this is an aggressive buy for 2013. >> i like defense regardless. i think if they cut a deal i don't think defense will get whacked. i think stocks will continue to perform. they have performed. look at raytheon. l 3 communications coming off a great quarter. i still think lll and raytheon go higher cliff or no cliff. >> can't

so what's at the core of the apple selloff? >> if you are looking to sell, if you are concerned about the market and the fiscal cliff, portfolio managers are either shedding either their largest asset or their biggest winner and apple is likely both. >> reporter: short term, some investors are worried about possible supply shortages of the iphone 5 and whether the ipad mini is priced too high. longer term, there are fears about growing competition from google and microsoft. and concerns about management changes. >> there are concerns about the management team, the transition from steve jobs to tim cook. you had a management shake-up announced recently. you had apple maps released to negative reviews. you have some people who say that wouldn't have happened under steve job's watch. >> reporter: apple's decline is having an outsized influence on the nasdaq 100 and the s&p 500. the tech giant currently has a 17% weighting in the nasdaq 100. that's more than google, intel and amazon combined. apple's weight in the s&p 500 is about 4

one apple bear is now turning bullish. joining us now on the fast line is doug kass, founder of sea breeze partners and a cnbc contributor. welcome back to halftime. good to have you on today. >> hey, judge. >> why are you buying apple here? >> back at $700, less than two months ago, i decided to put the consensus on mute. the stock was priced to perfection. it was the beneficiary, as you just mentioned, of large fund inflows. it was a great deal of optimism regarding the product upgrades. earnings estimates were constantly being upgraded. there was almost a religious belief on the part of retail and institutional investors about the stock. i was concerned about the economy at that time. remember, they sell a very high priced product. gary kaminsky has been discussing with causality there. i was concerned about the ability to deliver a large quantity and high quality product. a number of other things like the changing competitive landscape that we'll mention. at 700 it was overpriced. at 536, not so much. the stock's down $165 in 45 days. the n

but only short lines were spotted outside the apple store in chicago. at the gas pump, prices fell 8 cents last week, dropping to $3.49 per gallon. and an unusual move by the department of energy, which is loaning diesel fuel to the residents in the northest left without power due to superstorm sandy. let's find out what's on the minds of traders this morning. phillip streible of rjo futures joins us on this monday morning. good morning to you. > > good morning to you. > > what was going on with that sell-off on friday? was that classic buy-on-the-rumor-of- the-jobs-number and then sell- off-on-the-news? > > it was really interesting. i mean, traders started to jump in and we got some momentum after the number came out. the number was perceived very well, and we saw that push upwards. but as the day progressed, traders became more and more concerned about the election that's going to be tomorrow and what the results will be. so, it felt wise to maybe take some money off the table, stand aside and get back to safety. > > the market hates uncertainty. mone

supervisor wiener and the appellant only had one bite of the apple. the issue is not whether or not permits are issued but who they're issued but let me speak to why you want to take jurisdiction, and you can hear all the rest later. the board of appeals is the body to whom for 80 years the people have turned to for a voice when something goes wrong in government. taxi cap issues have come under you no matter the umbrella and the police department or the taxi commission or mta. why doesn't it matter now who regulates us now? why should we lose rights because sf mta is regulating us? you heard individual appeals over the last couple of years since sf mta has had jurisdictio

the company and apple the stock. >> you have been quiet. >> where do you stand on apple? >> i have my samsung galaxy note. i'm tired of it. i know we are talking about sentiment. they have to pull out another trick out of the hat. for me the iphone not good enough. sentiment terrible. >> you would be a seller. >> i heard what you just said. i agree with it. i am looking for further sell side. >> just to button up, what would you do? buy here? >> the stock becomes very interesting around 540. this is a stock up 41% on the 12-month rolling basis. a lot of people with a lot of gains in the stock which is why i might be a little concerned. having said that this is a great place to buy a great company at a company that is not at an overcrowded trade. >> just one more button up on it. when you saw the htc it is a total divergence from steve jobs. he wanted to fight tooth and nail to come out with a better product. seems like they are settling and coasting on iphone. i did buy google. i would rather be a buyer of googleal google. >> for more let's bring in

s&p and nasdaq having a big day today on the back of apple. we will talk about that and much more in just a moment. here is what we are followinging on halftime today. flash point as the conflict escaltes into tes can a dashes can a lates in the middle east. top analyst says stay away from apple. a top trader says buy it. they will go head-to-head over america's most loved stocks. today's big rebound. it comes on renewed hopes in washington. will congress rise above and what does a fiscal cliff fix mean for your money? our traders today, joe terranova, john najarian, josh brown. are you buying stocks today or feeling betber the market? >> no, not really. today is really positive action. we should have bounced here. and we did. especially when you look at apple. it was at a key level of support. today we acted the way it should. i don't know the that this correction has much further to go. i don't think one day's action calls it the end. i would pay specific attention today if you are trading or investing to a follow-through in small caps and em

if convicted he could face up to eight years in prison. >>> the apple spaceship will take a little longer to land. the company says its futuristic looking headquarters will not be finished until 2016. that's later than expected. apple and the city of cupertino says there will probably be some delays in the upcoming environmental impact report, the eir, which means the 176-acre campus won't break ground until 2014. the plan was to break ground next year. about 12,000 apple employees will work in what is being called the apple campus 2. cupertino official says they plan to post an updated set of plans on the city's website shortly after thanksgiving. >>> it's business as usual at the port of oakland after a one-day strike. many trucks were ready to be loaded or unloaded this morning after drivers slept in their big rigs. the strike was over stalled contract talks between management and the port's custodial and maintenance workers. they've been without a contract for 17 months now. union leaders and port officials will hold a fact-finding meeting with a mediator next week. >>> on this thanks

>> well, you know, i like the approach on apple right off the bat there. you do with apple right here, i think you've got to buy it in here. i think on the semiconductor space, i was kind of curious, what was the margin compression on it? i think they'll get a better insight. i'll be curious what their research report says on that. >> you're saying -- you sort of buried that. you'd buy apple at $586? >> absolutely, yeah. >>> gaming the fiscal cliff as another company accelerates the dividend payment, are there more special dividends ahead? and from an energy company to a footwear maker. we're tracking some of the day's biggest movers. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. ♪ mom? dad? guys? [ engine turns over ]

tablet-designed apps that make the apple ecosystem. all that lives within that ecosystem -- winners. amazon, which is a super retailer with a slick razor to run the razor blades, apple is truly a tablet and smartphone driven company with a solid pc and ipod business, too. the fact that pogue makes the tablet out to be the de facto gift, when wall street seems to be disappointed with the ipad as well as sales for the iphone 5, tells me that the rally in apple that started a dozen days ago may have more steam. the bottom line -- sometimes you don't want to overthink things. in an ungamable fiscal cliff negotiation, it pays to keep an eye on the main chance. it may well be the three musketeers of tech. and the best stock. barbara in texas, barbara. >> caller: hi, jim, this is barbara. i'm interested in knowing, i got in liquidity services today at $37.04. it's gone down lower, and how would you -- i put a stop in around a little lower, but --. >> yeah, boy, you know, this is a difficult marketplace. ebay all the way up here is better. i th

but today brought some sign of things slowly returning to normal in the big apple. morning, mayor michael bloomberg rang the opening bell on wall street where activity returned to the trading floor. commuters crowded near bus stops with routes now up and running. others walked across city bridges alongside cars snarled in traffic jams. some broadway shows returned to the stage as well. the subway system remains closed, as crews work to clear stations that remain flooded. a task new york governor andrew cuomo said is being prioritized. >> getting the water out of the tunnels is probably the main, one of the main orders of business right now. these are significant challenges that we're facing and problems, in many cases, that we've never experienced before or not in a generation. >> woodruff: cuomo announced limited subway service will start thursday morning. flooding kept laguardia airport closed. j.f.k. and newark airports have resumed some travel. and high waters led to a number of rooftop rescues of trapped residents yesterday in staten island. late today, new yor

apple. >> what do you mean? when? >> 4.25 is not going happen and there's just too much cash on the balance sheet and if apple was smart below $500, go in and do a large buyback? if you don't like it at $547.20, but you might like it at $545? >> i think the market is in a vulnerable place and closer to a 200-day moving average and i see things in the market place. >> the momentum stock took it on the way up and ask on the shorts and you don't know where it ends on the way down. >> next on halftime, starbucks and green mountain may call itself partners and find out why they're rivals and which stock may come out on top and from coffee to another form of energy, gasoline or even longer lines to fill up in our future coming? i hope not. we're heading to the pits for the answeri coming up. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it

the apple ipad mini on sale today. not so much fanfare. >> in part because wall street's reportg jobs today. good friday morning to you. >> stock futures little changed. the final jobs report before out in a's election is couple hours. forecasting a to more americans out of work. if employers have little reason to boost its staff levels as demand slows. expansion is expected to be at a snail's pace. out atbers will come 8:30 this morning. linkedin is benefiting from people looking for jobs. they sold more subscriptions to base, giving third quarter sales a boost. sales may rise in today's session. the apple ipad mini goes on sale today. expect huge lines we saw with the iphone 5 was released september. as of yesterday's, there was just one guy in line. he traveled more than three from brooklyn to get to flag ships store in manhattan. saw a few dozen people in line this morning. and facebook is changing its time line. on that in the next hour. >> we will see you soon. four days away from the election the nominees are kee

compared to $12 billion in federal taxes here in the u.s. appleke many other globe companies, offer leave significant profits overseas to not pay the tax rate. the praise legal. >>> getting on early start on veterans day weekend. >>> more good news forecast drivers. we'll tell you what's happening to gas prices. >> a big warmup on the way. meteorologist leigh glaser has the forecast. >> mike: i'm mike shumann. the bucs in blackhole and an oakland >> ama: it's called the biggest veterans parade in northern california, and so what if it's a week early. marching bands, helicopters and veterans marched down the streets in pleasanton. last year reside parade featured 2700 matchers. plenty of people were on hand watch the festivities. veterans say they're impressed how much people respect the military. >> san francisco's municipal railway took riders back in time. the transit agency put several vehicles like this trolley coach into operation today. muni started as a street car system in 1912. it carried passengers along market street and then outgeary s

the samsung. along comes apple with the ipad mini. it's priced at 329 or so which some say was a little expensive. this is something steve jobs never wanted to do. he did not want to do an ipad mini. do you think that steve jobs' vision is still happening at this company? >> i think ultimately it still is. i think tim cook is a little more i would say rational in terms of not -- he's not as steadfast to his beliefs that perhaps steve jobs was. steve jobs talked a lot about not having a 7 inch screen. tim cook is seeing an opportunity for a smaller mini and going along with it. i think it is becoming his company which i think has to happen after steve jobs' unfortunate passing. i think you are seeing it the company sort of come under tim cook's wing a little bit more. cheryl: over the weekend apple and htc settled their lawsuits. what do you think happens? we don't know the details. do you think it's possible that htc is going to be paying on the patents to apple? >> i think that's a likely scenario. you know, again, the terms were not

for clues about what's next for the stock market. apple turned into a big heavyweight on the market yesterday. trader scott bauer of trading advantage joins us. good morning to you. it's been a sour apple lately in this market. > > yeah, that's a good way of putting it. people keep looking at some of the support areas that we've seen that apple just keeps blowing right through. first it was that $610 area, then $580, then $560, and now $520 is really the next one that people are going to be looking at. it's unbelievable. the stock is down over % now from where it was just a month-and-a- half ago or so, and that really is, like you said, weighing very heavily on the marketplace. > > and how well does that weigh on traders' minds when you see a stock like apple carrying so much weight? could this become a continual drag on the market? > > it has been certainly over the last week, week-and-a-half. now, if we see further drop from here, and if it breaks through $520 very precipitously, you're going to see the rest of the market come with it. i

but the big play apple is making here is to expand the ipad's market. that's a key product for apple's growth. of course it is priced at $329. that's the cheapest ipad that apple has ever offered. but it is up against competition from amazon's kindle fire hd, google's nexus 7, barnes & noble's nook hd. all of those around $200. the question is can this power apple through the holiday season, continue their growth acceleration despite the fact that this product is lower margin than others in apple's lineup. that's the cause of apple bringing down expectations for gross martin in the holiday quarter. piper jaffray's gene munster expects and toll do between 1 and 1.5 million units on the apple mini over this launch this weekend. i'm hearing anything at or above 10 million units of the ipad mini for the holiday quarter overall would be gate. but as we're seeing right now, as of this first launch day, it is not clear what demand really is. of course in new york which is still struggling to recover from sandy, we didn't see those long lines. but here we have a

>> i think the demand for, you know -- go into an apple store. the iphone 5 is extremely strong. the only real risk there is their ability to make enough. but i feel like that's a good problem to have. better than most companies who their problem is finding the demand. for apple, it's finding the supply. i think ipads are going to be very strong, ipad mini. i think the new mac refreshes will be solid. i look across their entire portfolio, and i think they're going to have a really strong holiday quarter. i think what they can't make this quarter they'll make in the march quarter. >> rob, brian, thank you very much. a quick break. on the other side, we're going to break down this market selloff. is anyone bucking the trend? [ rosa ] i'm rosa and i quit smoking with chantix. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had ch

you continue to go for the quality, pick out the apple. i believe that the housing, the housing market's still intact and so are the reits. something like hca with a 5% yield in it. specialty trust. just be very, very cautious and take profits and bring cash in to the play. it's very volatile between now and christmas. >> a question, scott, if the traders are thinking of this in the kind of dual modality? do you have a play on the cliff and what would the bet be if i'm betting on the direction of the economy and then sandy and a perfectly interesting conversation to have right now but not talking about sandy. why? because the hurricane -- >> yesterday with philly fed, though. >> yes. >> which you didn't get -- >> and production today but that would have been a debate as to what the actual direction of the economy is without the distortion of sandy. >> you get back from sandy in q1. you get the snap back. we had the conversation offset before. i think this is a gift to buy the quality names. and if we could just get to the point where the ma

giant has settled the global patent dispute with htc. apple and htc say they agreed on a ten-year cross licensing the patents. apple filed a suit against htc two years ago with the u.s. international trade commission. apple claimed that the taiwanese infringed patents. it was a software for automatically recognized phone numbers and e-mails and converting them into links. they include the decision last september to suspend u.s. imports of htc products. the latest deal is the first settlement between apple and a company that uses devices using google's android operating system. it may influence the ongoing court battles between apple and samsung electronics. >>> china's main securities regulator says it wants to promote investment in chinese shares by foreign institutional investors. the chairman of the china securities regulatory commission spoke to reporters on the sidelines of the communist party's national congress. he said overseas investment represents just 1.2% of china's total market capitalization. he said the proportion is significant

and the oatmeal on top. pretty standard applees first. >> i know what mine tastes like. so i'm going right to dylan's here. >> dylan, it's good. >> wow. i love the cinnamon. >> do you like it? >> i haven't had in in like 25 years. that's amazing. >> thank you. >> it's really good. >> the secret to mine because on top of the apple crisp gets dried out -- >> you win. >> melt the butter and then mix it together. >> that's what i tasted. >> it's the butter mixed in with everything on top. >> let's try lester's. >> hers is good, right? >> here is the thing. they're different. can't they both win? >> i like that. >> they are different. >> good. >> they're good for you. they have fruit. >> there's a lot of fruit. >> think of all the antioxidants. >> and yours has oats for your heart. >> oats and lots of apples. >> this is easy. a lot of butter and the strawberries and the apples. >> the first ingredient shouldn't be butter. >> it takes on its own -- >> they're so great. >> really. where do we place our orders for thanksgiving? >> you ac

we are there live at the apple store. we are going to check in with her at 8:34, oh, what i want a minute, they are coming to the door. they are clapping their hands. and she is going there and she is going to talk act turn out therefore for the debut but it is just a couple of moments away. >>> yes, we are taking you there live. they are getting ready to unlock the door. the employees there are getting ready to get into position. the crowds are not as big as they usually are. but there is a by the of a line there. >> well, they tried to sweeten the pot, they have free coffee to try the get people to show up. but they are diligent people. >> they are getting all excited. they are checking the doors, still locked right now but the man outside is trying to wait patiently to get inside. again n is life. the apple store as they are getting the employees there in their shirts rallied up and getting ready to sell some of the products. and one man has been there since 2:00 a.m. >> they do make it quite a show. >> yes, they do. an

pipettes for sale and the apple store. >> it is 6 06 a.m.. mortgage relief is being offered today starting at 8:00 a.m. this morning they are all set up at the san jose convention center and ready to help you for free. is a nonprofit group that have already helped thousands of people negotiate same day solutions to try to make their mortgages more affordable. that reduced the monthly payment. in some cases by as much as $1,000 per month period that starts at 8:00 a.m. this morning and runs through the weekend. >> will be back in a couple --with more. the james lick freeway traffic looking good at all is clear. decision 2012 we are watching from florida. we are waiting for bill clinton to take the podium. we are waitwill file the latest developments here and see if president clinton has any comments about the job report that just came out. a reminder four days to go until the election and we will have live coverage on election night coming up on kron 4. it starts on assets at 8:00 p.m.. will have coverage on all the local propositions as well a

co-founder. >>> turns out the apple space ship will take a little longer to land. apple says its futuristic looking headquarters will not be finished until 2016, later than expected. apple and the city says there will probably be delays in the upcoming environmental impact report which means the 176-acre campus won't break ground until 2014. the original plan was to break ground next year. about 12,000 apple employees will work in what's being called the apple campus. they'll plan to post an updated set of plans on the city's website shortly after thanksgiving. >>> and speaking of apple l, a few changes to their retail stores. among the changes, they'll add an express shopping table for those of you who know exactly what you want, a section full of gadgets you can grab and pay for with the swipe of your credit card then and there. no waiting and no hassles. a shopping app by letting you buy and send gift cards via e-mail. >>> an apology from an east bay man accused of burglarizing the home of the late steve jobs. he appeared today in court. the 35-year-old of alamed

and aside from the expectation that apple may reinvent the television, its product are ner. >> apple t's risen. plateaued. they need to respark the fire of innovation they have had so long. it's a little bit harder. >> reporter: betting against apple is tricky, while it is true nothing goes up forever. the company is just getting started selling in china. it has more cash on hand than many countries and entire economies and been written off prematurely before. time to sell? or time to buy? there is probably an app for that. neal karlinsky, abc news, in seattle. >> a bet against apple, not necessarily a smart bet. the dow dropped 312 points yesterday. big drop. interesting too, four years ago, the day after obama was first elected it dropped 486 points. which was a massive drop. it is up 40% since four years ago when things were bad economically. still for this year despite the drop is up 6%. still a long way from where we once were. >> to put it in perspective. overall damage inflicted $400 billion in stock market vanished in the trading session. that is a lot. >> concerns about overs