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
- December Macro Update: Employment Growth Is Decelerating | Financial Sense
- 'Footloose' Comes To Brussels - Europe Unleashes "Dance Tax" | ZeroHedge
- Frontrunning: December 7 | ZeroHedge
- The Aftermath of the US Election And Its Implications Moving Forward | Financial Sense
- Website Raising Money To Fund Assassinations Of Trump, Pence Uncovered On "Dark Web" | ZeroHedge
- How U.S. Colleges Sell Enrollment to the Highest Bidders | ZeroHedge
- The Imminent Multi-Trillion Dollar Surge In Social Security & Medicare Costs | Financial Sense
The most relevant financial news and articles from the Internets
- STOCKS HIT NEW HIGH, OIL DROPS: Here's what you need... | Business Insider
- One crucial tip to keep in mind while playing '... | Business Insider
- Goldman Sachs is responsible for a massive... | Business Insider
- Samsung’s share of the high-end smartphone market may be... | Business Insider
- 7 iPhone photography tips from Apple (AAPL) | Business Insider
- Only one ship is still officially looking for MH370 | Business Insider
- 34 thoughtful, handmade gifts you can buy at Etsy | Business Insider