“One technical analyst is seeing even more pain coming for Apple,” Stephanie Yang reports for CNBC.
“Apple has fallen more than 4 percent in 2016, as concerns over iPhone orders and shipments weigh on investor sentiment,” Yang reports. “Looking at the charts, Rich Ross of Evercore ISI said several technical indicators will also pose challenges to Apple’s share price, which may fall as much as 29 percent from its Wednesday levels.”
“At a minimum, Apple may test the low $90 level, Ross said. However, following the drop from its highs in 2015, he sees an even steeper potential fall to $72,” Yang reports. “Long term, Ross is still bullish on Apple. However, with no new products in the pipeline for months, he recommends stepping away from the shares for now.”
Read more in the full article here.
MacDailyNews Take: Regardless of what the charts foresee, as per all of this “concern” about Apple: Water is dry, pigs can fly, and politicians care about you.
More, please!
Buy low, sell high, reap dividends along the way.
Now, a history lesson, since history repeats:
• Apple manipulated by Wall Street Journal before earnings? – January 22, 2013
• Japan’s Nikkei, The Wall Street Journal blow it, get iPhone demand story all wrong – January 16, 2013
• Did Apple reduce 4-inch Retina display orders due to improving yields? – January 15, 2013
• Analysts: iPhone 5 demand ‘robust;’ ignore the non-news noise – January 15, 2013
• Apple iPhone suppliers decline on report orders cut by 50% – January 15, 2013
• Apple swoon erases $17 billion from stock market – January 14, 2013
• Apple iPhone 5 production cut signaling a new product release? – January 14, 2013
• Apple drops to 11-month low on old reports of component cuts – January 14, 2013
• The strange math of Apple’s alleged massive iPhone 5 component cuts – January 14, 2013
• UBS analysts: Apple iPhone component order reduction ‘old news’ – January 14, 2013
• Apple pulls down U.S. futures – January 14, 2013
• Apple shares drop below $500 after reported cuts in iPhone 5 parts orders – January 14, 2013SEE ALSO:
Apple stock price tumbles 3% in premarket, now trades well below $100 – January 7, 2016
Apple stock slumps near $100 amid ‘iPhone sales worries’ – January 6, 2016
Wall Street’s freak out over declining iPhone sales is overblown – January 6, 2016
Piper Jaffray: Apple’s iPhone production cut do not necessarily presage sales decline – January 6, 2016
Foxconn plans ‘rare’ holiday as iPhone output fears rattle investors – January 6, 2016
Apple to release Q116 earnings, webcast live conference call on January 26th – January 5, 2016
WS and their anal has an hidden agenda…
If Tim could only not care about stock and shares like Steve, we would be in business…
I urge all to watch…. So simple.. So easy… so fun …so lucrative so satisfying… Lol
https://m.youtube.com/watch?v=gMShFx5rThI
I guess AAPL’s drop has nothing to do with the China market issues and idiots writing hit pieces like this.
Anyhow, time to buy more AAPL I guess.
I become quite concerned when I hear people doing such foolish things to buy Apple stock. I heard a lot of investors went under water during 2012-2013 for buying Apple stock. Same with 2008-2009 or so. Some people seem to love taking big risks on “sure things.” There’s nothing sure about Apple or the stock market. The big investors don’t care because they’ve got plenty of money but small retail investors can easily be ruined. I like Apple as a company but I sure know they’re not going to protect me from losing money.
I had thought Apple wasn’t going to go lower than $110 or so, but boy, was I ever wrong. It’s P/E is well into the 10.x range which is rather low for a profitable tech company.
Ever heard the adage “buy low sell high”? That’s how most people make money in stocks.
Apple’s financial metric is fantastic and has been through all the recent financial crises. Just because the market is freaking out does it mean you should too.
Apple makes/assembles most of its stuff in China.
The Chinese stock market is in free-fall at the moment.
That might explain something.
Since the Chinese currency is being devalued and chinese manufacturers are hungry for work, the price of Apple’s Chinese-manufactured parts will go down, driving AAPL’s profits up 😉
Why are you even reading this site???
You are not clear on how currency changes work. As the yuan loses value:
1) The cost of producing ALL iPhones, and almost everything else Apple produces goes down, making Apple more profitable worldwide.
2) If Apple does not raise iPhone prices in terms of yuan within China, then both the price and cost drop in dollars proportionally, and Apple maintains its margins there without doing anything.
The drop in Yuan is neutral or a win for any company that produces products in China. That is why it was devalued.
Not for the Chinese. The several billion Chinese. The whopping Chinese market that was supposed to save Apple. The devalued yuan only makes Apple products more expensive for the natives.
Secondly, with economics souring worldwide the vast majority of people will be less inclined to purchase nonessential products.
Then I’ll get more! 98
Google does not have any new products in the pipeline either…they are still just selling internet ads like always. Should we step away from them as well, Stephanie?
9:44 am CST
APPL down 1.27%
GOOG down 1.62%
MSFT down 1.71%
Stuff it trolls!
I need a shoulders to cry on. 🙁
End of closing numbers via Bloomberg
AAPL down 4.22% to $96.45
GOOG down 2.32% to $726.39
MSFT down 3.48% to $52.17
Market cap gap between AAPL and GOOG narrows to about $31B from $43B yesterday.
Whoops meant “End of DAY closing numbers”. 😛
Apple weathered the last Deep Recession/Depression of 2008. Apple is not the Stock Market.
The Stock Market is where cattle are taken to be butchered. The Stock Market may collapse (along with the rest of the world’s economy), but Apple will survive. It has a solid financial world-wide base.
Looks like we are headed for another 2008: China, Middle east and looming property crash here in the UK and Europe. Would not be suprised uf we hit a recession soon too
If your faith in Apple is determined by its stock price you are doomed to buy high and sell low.
Investors like that make money for other people.
I think it’ll go down 8%, then up 14%, then down 27%, then up 4%, then down 11%, then up 7% – then it’ll be the shape of Massachusetts. A classic Massachusetts pattern.
Move to Colorado and open a weed store. Weed is always high.