Apple has what it takes to weather market turmoil, says market watcher

“As the market sell-offs roll on, Wall Street’s biggest name has sustained some of the least damage,” Keris Lahiff reports for CNBC. “Apple is one of the best equipped to weather any more market turmoil headed its way, says Gina Sanchez, CEO of Chantico Global.”

“‘You could hide out in Apple as this kind of melts down around because it is fairly stable and mature,’ Sanchez told CNBC’s Trading Nation on Thursday,” Keris Lahiff. “No Dow Jones industrial average component has been spared February losses, but Apple is in the middle of the pack in its declines this month. One-third of the Dow has seen double-digit losses in February, while the index has dropped 9 percent. Meanwhile, Apple, with a month-to-date loss of 7.5 percent, is the ninth best-performing stock in the index.”

“According to one widely followed technician, Apple’s resilient price action could be a sign of strength to come,” Lahiff reports. “‘You haven’t got any sort of technical breakdown happening on the charts,’ said Craig Johnson, senior technical strategist at Piper Jaffray, on Trading Nation. ‘All you’ve done is pullback to a longer-term uptrend support line.'”

Read more in the full article here.

MacDailyNews Take: Safe haven.

Jim Cramer blames a ‘group of complete morons’ for blowing up the market – February 8, 2018
Bank of America Merrill Lynch calls Apple ‘name to own’ – February 8, 2018


  1. Typical low level effort CNBC story that confuses ‘AAPL’ and share price movement, and ‘Apple’ the company that makes great products, has billions in the bank and really does not rely on share prices. If you followed CNBC advice on Apple or Apple, you would have lost all your money years ago.

  2. A strong indicator that analysts and stock managers are unreliable: “‘The market will do whatever it has to do to prove the most people wrong,'” Todd Morgan, Bel Air Investment Advisors in Century City.”

    And proof that the market is Las Vegas: “The market mainly reflects investors’ collective perception about where the economy and corporate profits are headed.”

    He is an example of the idle rich, producing an insignifcant amount for practical use on the commons.

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