“It’s been a scary October for tech investors, but there’s one stock that’s managed to buck the trend: Apple,” Nia Warfield reports for CNBC.
“Shares of the tech giant are down just more than 4 percent since the start of the month, faring better than the broader tech sector, which has fallen nearly 10 percent in the same time frame,” Warfield reports. “This comes as other tech darlings have plunged into corrections and bear market territory.”
“According to Carter Worth, head of technical analysis at Cornerstone Macro, the charts are suggesting a breakout for Apple when it reports earnings later this week,” Warfield reports. “Shares of the iPhone maker have jumped more than 21 percent since 2016 and they are the second best-performing Dow stock this year. Despite the gains, Apple is still down more than 6 percent from its all-time closing high of $232.07 from earlier this month. However, Worth notes that the stock’s ability to stay within its upward trend channel in the past two years suggest Apple is ‘going to move toward the top end of the range.'”
Read more in the full article here.
MacDailyNews Take: From Carter’s charts to Mr. Market’s ears!
I am blocking ads on your site and you keep asking me to white list your site. I will not do that. Your site is one of the most offensive sites I have used in terms of ads.
You’re welcome to not use the site. It’s a free country and MDN can choose how they monetize, as long as the don’t hijack the page or obscure content. MDN has had problems with their ad networks before, but it seems largely fixed. If you zoom into the text, you will barely see the ads.
I don’t think ratza said anything otherwise.
In Safari, click the show reader view. The headaches magically vanish. My big gripe was that the ads frequently broke Safari while everything worked fine in Chrome, quiet ironically. But reader view is heaven.
It is interesting that the pundits are saying that Apple stock is going to soar, yet right now it’s down $4.06 to 212.24. Is there something fishy going on? Seems odd that that it would go so low just before supposed great quarterly results. What do you think?
As the article points out, Apple’s losses are less than half as much as the tech sector as a whole. An ebb tide lowers all boats.
Word on the street is The Trump administration is reportedly readying a new round of China tariffs — all remaining goods not already on the import list, including Apple — if an upcoming meeting with Chinese President Xi Jinping meeting fails to ease trade tensions.
Investors are Fed up….
😉
Most anal-ysts aren’t correcting (+-) BUN when projecting EGG trajectories or BACN vectors.
Indeed.
Word on the street is The Trump administration is reportedly readying a new round of China tariffs — all remaining goods not already on the import list, including Apple — if an upcoming meeting with Chinese President Xi Jinping meeting fails to ease trade tensions.
We shall see it unfolds on Thursday night. Long AAPL, GLTA.