“Apple Inc. shares fell 1.9% to $576.32 on Friday, dragging them more than 10% below a recent record high of $644,” MarketWatch reports.
“That fall off its highs is often termed a technical correction among stock strategists — a trend break that can usher in steeper losses,” MarketWatch reports. “‘Our work suggests that this is just the beginning of the first meaningful correction in Apple since the 2009 bottom. A close below $580 should set the stage for a fast move down to $525,’ said Richard Ross, chief technical strategist at Auerbach Grayson & Co.”
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