• Shares of AAPL Continue to Slide as Traders Look for 'Danger Zone'

    Despite Apple's most recent record quarter of earnings and product sales, investors continue to believe that the blockbuster numbers weren't quite good enough, spooking the market and perpetuating a stock slide for the Cupertino, California-based tech juggernaut.

    As CNBC reported in depth Friday, shares of Apple have dropped 7% since the company's latest earnings report published just days ago. With shares of AAPL now hovering just above $121, some investors are looking for shares to hit the "danger zone," a price level that could usher in even more downward pressure on the stock.

    Consequently, some traders are waiting to buy until they see at least another 7% stock drop for AAPL.

    "Now with the stock down, we're actually seeing more bearish bets than bullish bets," CNBC contributor Mike Khouw is quoted in today's report, noting that bearish bets now outweigh bullish bets by 10 percent as of Thursday. In fact, if Apple reaches $113, that "could mean trouble for the tech giant," the CNBC report explains.

    "When you get down to those levels, you're looking at a valuation where the company's going to be trading at about less than 10 times its full year earnings when you exclude the cash," Khouw asserts. "Obviously there are some people who think there is some kind of a real problem going on here."

    Source: CNBC
    This article was originally published in forum thread: Shares of AAPL Continue to Slide as Traders Look for 'Danger Zone' started by Michael Essany View original post
  • Connect With Us

  • Twitter Box

  • Facebook