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
- Late Night Strategy for Tuesday | iBankCoin.com
- THe EViDeNCe... | ZeroHedge
- Ukraine Defense Minister Warns Of "Worst Conflict Since WWII", Shifts Forces To "Combat Full-Scale Russian Invasion" | ZeroHedge
- Key Events In The Coming Week | ZeroHedge
- Scotland Is Building the World’s Largest Tidal Array | Financial Sense
- Japanese Household Spending Slumps 5.9%; Cries for More Monetary Stimulus | Financial Sense
- The Eurozone Is a Growing Problem for U.S. Economy | Financial Sense
The most relevant financial news and articles from the Internets
- The 10 Most Important Things In The World Right Now | Business Insider
- What 21 Actors Were Like In High School | Business Insider
- 10 TV Shows to Binge Watch Before the Fall Season | TheStreet.com
- Streetinsider.com's Hot Lunchtime... | StreetInsider.com
- Pre-Open... | StreetInsider.com
- Apple Has Reportedly Partnered With American Express, Visa, And Mastercard For... | Business Insider
- 15 Ridiculous Finance Moments That Have Us Convinced This Must Be... | Business Insider