“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.
SEE ALSO:
iPhone sales are much stronger than some seem to realize – February 2, 2018
Dow plunges more than 600 points; Apple shares fall – February 2, 2018
Apple breaks record for biggest ever company profit – February 2, 2018
So much for worries over Apple’s iPhone X – February 1, 2018
MacDailyNews presents live notes from Apple’s Q118 conference call – February 1, 2018
Apple smashes Street with biggest quarter in company history – February 1, 2018