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Did a bit of math on Apple shares and noticed the last time this company ran into some negative press (speed bump) the shares fell from $86.40 to a low of $50.16 (about 42% of it's value). This time the shares fell from $199.83 to $115.44 (about 42% of value). What's up with that?
Since both corrections started in January (after a big run up the prior year) I will assume these corrections are something along the lines of a portfolio rebalance (as opposed to a company specific problem).
The quandary is; If history repeats itself, then this current correction will not turn around until late summer (July-August).
Back to school spending and Christmas is Apple's seasonal strength.
Apple's season is mostly close to Christmas and about early to mid Jan, before they drop off dramatically. They were around $180+ close to Christmas, but topped out at $204-$206 early Jan. I say just wait till next year when the stock goes down pass $130. Someone else can give you even better advice, but after watching them, they drop off during Jan, Feb, and slightly start regaining in Mar.
I think Apple is being weighed by the overall market. Looks like a double bottom may be forming and a break above $180 would call for hands down a great entry price.
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