Apple shares fell $1.99 (-1.46%) to $134.51 in Friday trading. This after the stock fell 4.7% on Thursday, outpacing the declines in both the Nasdaq and the S&P 500.
Whether it’s concerns about China’s economy, iPhone production, slowing growth, its App Store business in Europe or just simply a global recession, Apple shares are finally feeling some heat.
Apple fell more than 4% on Thursday, marking its worst one-day decline since Sept. 29. Worse though, the stock broke below key support in the $140 to $141 zone.
Now breaking below key support, it thrusts the fourth-quarter lows into play in the $134 to $135 zone… So what happens if $134 to $135 fails as support? In that scenario, Apple stock could trade down to its year-to-date low near $129.
In the event that shares completely break down and the selling becomes overwhelming, it’s possible we see the $113 to $118 zone.
MacDailyNews Take: Holy moly, AAPL shares for $113 would be such an enticing bargain! Well, one can dream. Hopefully, this dream will come true and we can all back up our trucks!
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Well, we have insane lunatics running our country who think any number of trillions can be spent every year with trillions more the following and we can engage in endless wars (as long as “we” don’t have to fight) and shovel shitloads of taxpayer money to the most corrupt dictators in every corner of the world (as long as they kick back at least 60%) and then we can kill the energy industry and then the meat and dairy industries and then we can shut down our entire economy to fight the flu and then we can decide to pay for every citizen and non-citizen to have their genitals mutilated for some odd reason and if we do all this and even more, then Utopia will be achieved here on Earth, and then Apple Stock will get to $10,000 a share.
Who hurt you?
I know holidays can be rough sometimes. Hang in there!
“shut down our entire economy to fight the flu”
That statement right there instantly shows your complete ignorance of the facts and therefore discounts your entire post. Well done.
R
Leftist 🐂💩!
Obvious you cannot comprehend all the facts and nuances in Kent’s post. Brutal reality hurts the snowflake in you.
So, simpleton Leftist attempts to use a FALSE argument to WHOLESALE CANCEL all the truths and what, close your eyes in a safe place.
While you are the exception, people and particularly school children on left and right throughout the country were hurt far more in blue state shutdowns. While freedom in red states saw their economies and citizens prosper is a FACT.
Obviously you don’t like inconvenient truths, but no matter how hard you try, you cannot cancel and more importantly — CHANGE REALITY…
You’re absolutely right Ken!. Only ignorant people denied that facts.
The cost of energy effects everything. The idea we don’t need more/cheaper petroleum and that all we need to do is transition to electric cars for transportation is low resolution. If fact less the half of crude oil is used for gasoline. Oil is used in thousands of everyday products. Consider just some of the crude oil based products used in the manufacturing of an EV; carpet, plastic, lubricants & bearing grease, rubber ties, enamel and paint, upholstery, car battery cases, wiring harness, and even the asphalt in streets streets…. not to mention all the fuel needed for freight shipping, manufacturing process and associated equipment.
again, the cost of energy effects the cost of most everything. The quickest way to pull the usa economy out of recession is to drastically lower the price of oil (the cost of energy). The USA should focus on clean energy in addition to clean/cheap oil. The USA should not be buying an oil from countries like Russia and Saudi Aruba.
As long as our military and space programs are reliant on crude oil based fuels and as long as thousands of everyday products are oil based then the USA needs to lead the world in clean and affordable oil. Im still waiting for the next gen fighter plane or a space x rocket that is battery powered.
obviously apple will have production issues due to China. Once India Gears up and takes the load of the orders the stock will go back up when product availability comes back. no worries, buy low!
To be honest, I really expected Apple to have moved faster on shifting to India, because India was putting pressure on before CoVid even was a thing, and I had been under the impression that Apple was (although slowly) moving some production there to address those geopolitics.
With there now being a quiet US Govt push to get advanced electronics technology out of China, it will be interesting to see what Apple’s response(s) will be. For example, one could envision a tapering back or elimination of future “M” chip based products. Probably too late for the M1 or M2 series, but perhaps the 2023 Mac Pro will be what to watch for where it is fabbed.
No! Leftist Liar you cannot use one cherry picked sentence, repurpose its meaning out of the full context of Kent’s post, then CANCEL the rest of an awesome post that tells it like it is.
Obvious you are clueless to this day when the Democrat governors imposed draconian shut downs of private businesses, blessed by Biden, and halted their states economies. One Gold Standard example was in Pennsylvania with a Democrat Governor.
“Wolf’s administration decided to make Pennsylvania one of few states that would decide on its own which categories of businesses would close and which would remain open. The quickly-formed system required that all businesses shutter, except for those considered “life-sustaining” – a group that frequently changed.
Businesses ordered to close, many of which were devastated by their financial losses were able to apply for waivers. That created a vastly unequal and inconsistent system and put government bureaucrats in the position of making decisions that decide if a business ultimately survived or went under.”
— Spotlight PA
Thousands of Mom and Pop businesses, went OUT of business forever in Pennsylvania, not that you care.
So your dismissal of one sentence in Kent’s post clearly shows you are IGNORANT of the facts and so ready to wholesale cancel INCONVENIENT TRUTHS.
Sorry to say, you are a DISHONEST Democrat SMEAR MERCHANT with no sense of honesty or reality. Therefore and you earned it — you are CANCELLED!…
You too? You all – forgive the person(s) who hurt you. Not for them, for you.
Feel better soon!
Yay! Goeb canceled me. Love it.
Your Leftist LIE aside, wish I could when you spread DISINFORMATION on behalf of Demonrats…
As AppleCynjc, he knows everything and will have the right advice.