Dow Jones slides as Apple sells off

The Dow Jones Industrial Average fell 200 points Friday, as Apple stock sold off below a key level in today’s stock market.

Why Apple stock is struggling

Scott Lehtonen for Investor’s Business Daily:

Among the Dow Jones leaders, tech titan Apple sold off 1.4%, while Microsoft moved down 0.9% Friday. Nike is tracing a new base, but is below a key technical level.

Tesla looked to snap a four-day win streak Friday, falling 0.8% in morning trade.

The Dow Jones Industrial Average moved down 0.65% Friday morning. The S&P 500 lost 0.9%, while the tech-heavy Nasdaq traded down 1.15% in morning trade.

The Nasdaq threatened to snap a two-day win streak with moderate losses Friday. The S&P 500 continues to hold above support at its key 50-day line, while the Dow Jones Industrial Average is falling further below its own 50-day line.

MacDailyNews Take: This too shall pass.

4 Comments

  1. Nazdak down a bit over 1.5% and the market is burning. “Apple sells off!” It sells off having dropped approx $10 from ATHs!

    Do I like it? No…but the need for drama & trauma in the press is wearying.

  2. Rumors that Apple botched the new Watch and experienced a “catastrophic” manufacturing snafu don’t help the stock price. Not to mention the new Watch being pretty “meh” even despite the rumors. Nothing compelling in the iPads except spec bumps. Mostly the same bumps in iPhones, sans cinematic mode and ProMotion, which are nice but not “must-haves” for most. Yep, must be time to sell on the news. But not too much. New MBP’s are on the way, and who knows? Maybe an October surprise.

  3. I’m glad Apple sold off. That helps Apple buy back more shares at a cheaper price. I wish it sold off more to around $140. As long as Apple is buying back shares, what difference does it make how many Nervous Nellie investors are dumping their shares in a single day? It helps long shareholders. I want as many outstanding shares to disappear as soon as possible. Apple stock is weak, but that’s to be expected when there are so many other fine tech stocks considered more valuable in the short term. If Apple reaches $170 by year’s end, I’ll be satisfied. We can’t expect the iPhone to carry Apple forever.

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