Monday, April 16, 2012

Apple - A Funny Thing Happened on the Way to $1001

Apple - $AAPL - suffered its biggest dollar decline in history today. Mark your calendar! While the price drop wasn't the largest percentage drop in history, I imagine those who purchased shares at $644 with a market order are scratching their heads. Heck, the stock was supposed to go 550-bucks in the up direction!

I have a sense of deja vous from Microsoft in the 1990s as the huge company battled monopoly charges and such.

Are we seeing the same with Apple?


I don't own shares directly although I'm sure it is in some of my ETFs in outrageous proportions.

My thoughts lie on the moving averages (or there abouts) with the stock. It has been on such a run that profit takers had to show up sometime. And the high beta stocks do tend to pullback more than the lower beta stocks during a market correction. Looking at the calendar and recent market highs, it seems as if we are near (if not in) one of those.

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