STOCKS | September 28, 2017
Follow the Leader - Apple
Apple appears to have begun a decline. Where are the support levels and what effect could this have on the broader stock market?
For several years Apple Inc. (AAPL) has been one of the main leaders in the stock market. As of September 22, 2017, AAPL is up 69% from its last significant bottom on May 12, 2016. The S&P 500 (SPX) is up only 21%. From the start of 2017 AAPL is up 32% vs. 11% for the SPX.
AAPL made its all-time high of 164.94 on September 1, 2017. Since then it has been in a decline while the SPX has continued to rise. Is this decline just a symptom of AAPL's performance as a company, or does it have implications for the broader stock market? A look at AAPL's history reveals interesting clues to what may happen in October 2017.
by Mark Rivest
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