“Shares of Apple Inc. tumbled 4.4% to $160.37, the lowest close in over three months, and enough to kick off the first official correction in 15 month,” Tomi Kilgore reports for MarketWatch. “The stock has now lost 10.5% since it closed at a record $179.26 on Jan. 18.”

“The last time Apple suffered a correction was when it fell 10.6% from the Oct. 25, 2016, close of $118.25 to Nov. 14, 2016, closing low of $105.71,” Kilgore reports. “In addition, Apple closed just 0.6% above its 200-day moving average, which many view as a dividing line between longer-term uptrends and downtrends.”

Kilgore reports, “The 200-day moving average currently comes in at $159.47, according the FactSet.”

Read more in the full article here.

MacDailyNews Take: This too shall pass.

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