Apple Inc. (NASDAQ:AAPL): Apple Could Retest the Bottom of the 25-Year Channel Between $100 and $110

 

 

Apple headed down to retest the $125.72 support level, or its $2 trillion market cap, after Exane BNP Paribas downgraded the stock to Neutral, based on valuations. The stock also got hit by an unconfirmed Nikkei report saying Apple had told suppliers to make fewer components for products including AirPods, Apple Watch and MacBook laptops.

Apple is expected to announce their quarterly earnings by the end of the month. Meanwhile, the quant funds could use the 2016 playbook to take the stock down to test the bottom of the 25-year channel between $100 and $110. 

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!



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