Apple (AAPL) is having another bad day as it extends its post-2Q16 earnings loss to re-test its 52-wk low in the $92.00 area once more. Since AAPL stock traded at around $132 per share in July 2015, it has been on a steady downtrend, falling almost 41% to Friday’s close.
Shares of Apple have key support level at $92.60. This number held back in early February. A failure here of the same level could mean a sharp break lower in Apple’s price, with a test of support at $91.45 perhaps leading to a midpoint test at $90.35.
In today’s session Apple has remained mostly confined below the $94 area. The stock began trading this morning at $93.96 to now trade 0.19% lower from the prior days close of $93.74. On an intraday basis it has gotten as low as $92.40 and as high as $94.08.
Valuation Metrics
Apple stock is currently valued at $511.50B. The name has a median Street price target of $120.00 with a high target of $185.00. Approximately 35M shares have changed hands, compared to the stock’s average daily volume of 38.01M.
In the past 52 weeks, shares of Cupertino, CA.-based tech giant have traded between a low of $92.00 and a high of $132.97, with the 50-day MA and 200-day MA located at $106.27 and $106.92 levels, respectively. Additionally, AAPL stock trades at a P/E ratio of 1.22 and have a Relative Strength Index (RSI) and MACD indicator of 20.50 and -10.19, respectively.
Apple currently prints a one year loss of about 24% and a year-to-date loss of around 11%.
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