If the stock market is pointing to a retreat should Apple Inc trader’s fan club be concerned?
Is Apple’s Inc share price in correction territory?
There is certainly reasons to be concerned.
- The share price chart crosses below 50 & 100 Moving Average, yet, is not a sign of correction but it could be if the trends is establish and crosses below the 200 Moving Average.
- Apple’s share price has recently be boosted by product launch. This year products haven’t done the trick and a recent Bloomberg reports suggest that Apple will be unable to deliver their rumored live TV-over-internet streaming service for the Apple TV until 2016.
- China is Apple second-largest market and with the Yuan in decline it could translate into lower profits.
Is there hope? Yes the current market volatility has pushed the Dow Jones lower toward retracement area but isn’t yet into bearish territory.
The good news is that in case of an actual correction it will be a welcome news as the company will be able to buy back more share and expand they share repurchase program. A sign, usually, of higher share price to come.