Apple Stock Slump Continues - Tests Key Technical Support

Tyler Durden's picture

Apple share price continues to tumble since it unveiled the iPhone 8 and X, following yesterday's triple whammy of bad news.

Back at it lowest since August 1st's after-hours spike on earnings, AAPL is now testing the key 100-day moving average...

 

And as goes AAPL, so goes the Nasdaq.. again

Time for The SNB to buy some more...

 

"No brainer..."

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arkel's picture

Who cares? Fundamentals don't matter. Stock will be going up again in no time.

auricle's picture

Yes, Japan and Swiss central banks are buyers at this level. 

TradingTroll's picture

If Janet Yellen has your back then why is she raising rates and tapering QE?

moneybots's picture

"If Janet Yellen has your back then why is she raising rates and tapering QE?"

 

When the FED stopped QE, Japan stepped in and the EU has their own QE, as well. Yellen is using surrogates.

In August, 2014, when the market was dumping, Bullard said QE should not end, in order to goose the market. When QE ended, Japan immediately annouced it was going to QE. Bullard then said U.S. QE should end and his August remarks were misinterpreted.

gatorengineer's picture

The other theory is that there have already been so many trillions printed that cant be accounted for that this money can be oozed into the market at any sign off weakness to keep the ponzi going.  Once you realize it was never about mainstreet only about wallstreet it makes sence.

Bes's picture

sounds like you just figured out

Trump's presidency.

congrats. 

#maga

TradingTroll's picture

Well I say give it a few weeks. All the permabulls are going to be reacquainted with a bear.

gatorengineer's picture

""They"" know that that cant happen, and will preclude the end game as long as possible.....  Not saying it wont end, but I dont think it will be anytime soon.

 

Next leg up will be on healthcare and insurance stocks with the repukes fail to do anything about Obozo care.

spanish inquisition's picture

There will always be an aggregate QE mechanism... Until there isn't.

saldulilem's picture

Uh-oh, the SNB may have to normalize their balance sheet

E.F. Mutton's picture

"This is the end, Armageddon! no future!" - Vyvyan Basterd

BitchesBetterRecognize's picture

Apple rotting? 

no wonder why with the latest shit they're coming up with.... 

gatorengineer's picture

With absolutely no innovation they kept it going alot longer than I ever imagined they wood.  The twinkie in charge had a great run, and still will do ok, as crapple users will buy what they are told to buy.....

spastic_colon's picture

switching to samsung..........also AAPL is up how many percent in 12 months.......rotting starts below $100/sh

Bill of Rights's picture

Because the new Iphone x sucks balls, I just switched to the Samsung Note 8...bad ass phone. And Gear 3 frontier watch..also bad ass.

 

Thumbs down cunt ...fuck off.

Horse Pizzle's picture

Apple consistantly changes software to make your phone obsolete.  Planned obsolescence is fraud. 

American Psycho's picture

Yup.  had the 4S forever and then the damn thing froze, and to reinstall the OS (which I never updated).  The new system fucked my phone. 

Urahara's picture

Apple sheep and hipsters will prop it up once again.

Consuelo's picture

 

 

Probably should be looking at what will likely be the real underlying cause of the trajectory towards $9/share again, not Foxconn delays...

- Disposable income drought

- Smart phone maturity saturation

 

 

JoeTurner's picture

hey but a least Apple has a shiny new headquarters that looks like an anus...

mkkby's picture

Stupid article has it ass backwards. Apple recently hit all time high. Correction is to be expected.

Where do we get these junior high technicians? The hedge used to be pro level.

Every product announcement is met with critics, and perma bears say tomorrow is the crash. Investors who listened to them are very sorry as apple faithful buy anything they sell. Apple is so confident they troll their users with a $1000 dollar phone. New and improved with more molecules.

small axe's picture

Swiss will need to sell more cheese

silverer's picture

Basic valuation making a comeback?

dark pools of soros's picture

iPhone 7 is fine... they could of cut staff and just sold that one for the next 5 years

TheSilentMajority's picture

IP6 is actually fine.

Nothing has significantly changed for the better since the ip6, but some things have actually gotten worse since then.

dark pools of soros's picture

true, losing the headphone jack was asinine... tmobile was basically giving the 7 away so i switched up from a 5 last year

mkkby's picture

You have to buy a new one every 2 years because the battery dies and cannot be replaced.

This one is even more stupid because LTE 5 will be out in a few months and no existing phones have a modem for that. Idiocracy will buy a $1000 phone just to throw it away next year.

joeyman9's picture

"You have to buy a new one every 2 years because the battery dies and cannot be replaced"

Well, I've replaced the batteries on an iphone 5c and 6 easily.  On the 6 there are two screws on the bottom, remove those and the battery slides out.  Replace, secured and you got a new battery, or go to a place like Cellphone CPR (or whatever iphone repair place you go to) and have them do the replacement for about 45 bucks or so.

Don't know about the 7 or 8 cause I've never used or had them.

micmac's picture

the feds got your back

Hkan's picture

Again.....and ag....

divingengineer's picture

I think JPM is STILL trying to unwind its silver short position from the Lehman days. 

Sky flyer's picture

Seeing as how the CEO literally takes it up the ass on a regular basis, this little correction won't hurt him one bit.

Uncoy's picture

Private bottom, public top. Apple users are the ones taking it up the fanny.

Cluster_Frak's picture

apple will turn to next GE

ebworthen's picture

CALPERS will step in and buy here soon; after all, it's not their money.

Pigeon's picture

I don't know why people won't pony-up for a $1000 iPhone. After all, the cost is less than 1 month's health insurance premium. What will it take for me to get you into this new iPhone, today?

highwaytoserfdom's picture

 Abe buying the ETF's  third Japanese nuclear bomb.

 

Wait until those losers at Bain and KKR and the Vampire Squid gang bail on ToysRus and steal the Toshiba chip plant.

 

http://lawprofessors.typepad.com/files/clubbingcomplaint.pdf

TheSilentMajority's picture

The sheep are now wise to the annual Apple “upgrade” con and wont be upgrading until their phone actually dies or something significant improves with the phones.

Occams_Razor_Trader's picture

Not so fast- there ARE ALWAYS sheep to fleece- always.

divingengineer's picture

1. Plunge Protection Team to the Rescue!!!

2. New legislation involving an individual mandate to buy a mobile phone from one of the three primary manufacturers.

3. New FCC regulations making any phones pre-2017 unable to be used on the existing networks.

 

That ought to just about take care of it. 

 

Horse Pizzle's picture

Apple needs a new idea.  Tim Cook never had the first one. 

bankbob's picture

He is too busy telling his customers how to think.

twh99's picture

Apple needs a new CEO.  One who is more interested in running the business instead of his mouth.

hanekhw's picture

How many Apple products languish, hidden away in some closet after annoucing that model would no longer receive upgrades. Millions? Easily. Many are still usable for their purpose but the fear and doubt created makes their anxious owners relent and fork over their money for the 'new'. But fewer with each iteration. The returns are diminishing. Hence a price increase to squeeze the golden goose a little longer. Not a good long term strategy. The Age of Cool requires ever new acolytes and the cost of being one have made membership increasingly prohibitive.

bankbob's picture

How do you MILK SHEEP?

Release a new model IPhone and charge $1000 a piece.