logo
  Join        Login             Stock Quote

Apple (AAPL): Parts Orders And Stock Price Getting Cut – How Low Will Shares Go?

 January 14, 2013 10:18 AM
 


(By Rich Bieglmeier) If you don't already know, the Wall Street Journal is reporting that Apple (AAPL) cut iPhone parts orders because "demand is about half" of what the tech giant expected for the current quarter. If you don't already know, the stock is under pressure today.

Today's selloff could be a significant turning point for AAPL shares. As you can see on the chart below, the smartphone and tablet giant's shares broke a key support level, and it could get real ugly for the stock.

A few weeks ago, iStock discussed a Sundal Collier analyst's sell recommendation and $400 price target for Apple. We examined the NASDAQ 100 member's past valuations and what it would take to get $400. In a nutshell, past valuations showed that it was possible for AAPL shareholders to see $400. Of course, we took some heat from iAddicts, but that's OK.

[Related -Apple Inc. (AAPL): How Q1 Earnings Will Fare?]

Today, we are going to look at the technical side of AAPL. With today's $20 markdown, the stock pierced major support, and now rest on the psychological $500 price-tag. However, we expect traders won't be too hung up on round numbers for long.

iStock sees a nasty pattern for Apple's shares. The stock's recent closing low was $509.59 on December 28, 2012 with a bunch of closing prices in the upper teens and 20s. The cluster of similar closes sets the bottom bar which is fairly straight edged. However, the top edge of Apple's price pattern continues to decline.

[Related -Apple Inc. (AAPL): iPhone Trending into Another Carl Icahn Disappointment?]

What we have here is a bearish right angle triangle, and today's selloff is the sell signal. Here is the good news; there is a dash of support around five bills. After that, timbeeeerrrrrr, $450 here we come. If $450 doesn't hold, then $425 is up next. And, if $425 goes bye-bye, then the $400 analyst, Per Lindberg will go from fool to genius, almost overnight!

Investors will be updated in full when Apple reports 1st quarter earnings on January 23rd. As we wrote before, the school is out as to how well iPhones sold during the holiday quarter. Between here and there, the question is how low will Apple (AAPL) go?

iOnTheMarket Premium
Advertisement

Advertisement


(1)
 
1/14/2013 12:23:26 PM
by ron
HAHA! in your eye Apple you arrogant cunts! serves you right for being such douche bags the last 5 years now you can suffer and nobody will have pity for your stupid asses lol.
Rating: (5) (0)
Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageBaseball, Hot-dogs and Apple Pie Stocks for the July 4th Holiday

Three stocks to own for a piece of Americana – baseball, hot-dogs and apple read on...

article imageTenaris SA (TS): Neutral on Sales, Buy on Earnings

Tenaris SA (TS) shares are outperforming the market today. The extra oomph comes via an upgrade from read on...

article imageContainer Store Group Inc. (TCS) Q1 Earnings Preview: Third Time the Charm?

Container Store Group Inc. (NYSE:TCS) will release its financial results for the first quarter of fiscal read on...

article imageUrban Outfitters, Inc. (URBN): Bottom Fishing or Fishing For a New Bottom

It is time to do some bottom fishing with Urban Outfitters, Inc. (NASDAQ:URBN). Well, it is at least what read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.