“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