Apple Testing $500 Share Level
Ten days ago we talked up the decline of Apple Inc (AAPL) shares, that trend hasn't stopped. Apple is just $9 away from $500 a share.
Apple shares have dropped almost 40% from its 12 month high. That works out to a massive loss of $183.7 billion for the world's most valuable company.
Friday Apple shares lost 3.9% and closed $509.79. Last time we checked in on Apple it was the company's worst day performance in more than four years. The downtrend is inescapable for Apple since December despite rallying a short comeback in late November. Now that Apple is below the $520 share price the next test is $500. Apple is well below its 50-day moving average of $560.05 and 200-day moving average of $609.79.
The analysts are finally weighing in on Apple now that its share price has tanked. This past week UBS changed their price target from $780 to $700 for Apple. UBS still maintains a "Buy" rating on Apple Inc. Jefferies analysts reduced their revenue outlook on Apple this week but still maintain their "Buy" rating. Jefferies has a $800 price target and said they believe the stock is "dramatically under-priced."
MASTERY Bottom line:
Thanks to the decline it could be an invitation to Bob for Apples. Mastery likes getting in on the decline.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Steen Jakobsen: Get Ready For The Biggest Margin Call In History | ZeroHedge
- This Technical Signaled The Last Two Market Crashes And It Just Happened | ZeroHedge
- North Carolina Man's Obituary "Respectfully Asks That You Not Vote For Hillary In 2016" | ZeroHedge
- As Gazprom CEO Arrives In Athens, EU (Coincidentally) Files Anti-Trust Charges Against Russian Giant | ZeroHedge
- Well, Well, Well, Look What We Have Here? | iBankCoin.com
- America's Looming "Great Surprise" | ZeroHedge
- THe SHiLL ON THe CiTaDeL... | ZeroHedge
The most relevant financial news and articles from the Internets
- Supply Chain Management: The Next Big Thing? | BusinessWeek
- Pentagon: The Navy sent warships near Yemen but NOT to intercept Iranian... | Business Insider
- We found out which type of coffee gives you the most energy | Business Insider
- Here's what the first 'Star Wars' spinoff movie will be about | Business Insider
- 90% of male VCs assume female tech CEOs are the chick... | Business Insider
- What business owners think about Google's plan to punish sites... | Business Insider
- Which Is America's Best City? | BusinessWeek