Apple Looks Most Oversold in Years After $200 Billion Selloff

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Apple Looks Most Oversold in Years After $200 Billion Selloff

Bloomberg03-07

(Bloomberg) -- Apple Inc. has struggled in 2024, and the recent weakness has the stock looking like it is the most oversold in years, analysts said.Shares of the iPhone maker are down 14% from a ...

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Keshavlol
·03-07
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C_K_T
·03-07
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Egypt’s Devaluation and Record Rate Hike Put IMF Deal in Reach. Chemical Linked to Cancer Found in Acne Creams Including Proactiv, Clearasil. Stocks Rise, Bond Yields Fall as Powell in Focus: Markets Wrap. Shares of the iPhone maker are down 14% from a recent peak and have dropped 12% this year, compared with a gain of 7.42% for the Nasdaq 100 Index. Apple shares have been pressured by concerns over iPhone sales in China and a fine from the European Union.The stock fell 0.3% on Wednesday, its sixth straight negative session. The 7.2% decline over that six-day drop has erased more than $200 billion in market capitalization.“At some point this hate is going to be too much, and most oversold in six years seems like a good place to start,” Michael Toomey, head of TMT trading at Jefferies LLC, wrot","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4553":"喜马拉雅资本持仓","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4534":"瑞士信贷持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0109391861.USD":"富兰克林美国机遇基金A Acc","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0072462426.USD":"贝莱德全球配置 A2","BK4501":"段永平概念","BK4527":"明星科技股","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4588":"碎股","BK4579":"人工智能","LU0080751232.USD":"富达环球多元动力基金A","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","BK4574":"无人驾驶","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","BK4581":"高盛持仓","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","AAPL":"苹果","BK4170":"电脑硬件、储存设备及电脑周边","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4592":"伊斯兰概念"},"translate_title":"在2000亿美元抛售后，苹果看起来是多年来最超卖的","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AAPL":1},"content_text":"(Bloomberg) -- Apple Inc. has struggled in 2024, and the recent weakness has the stock looking like it is the most oversold in years, analysts said.Shares of the iPhone maker are down 14% from a recent peak and have dropped 12% this year, compared with a gain of 7.42% for the Nasdaq 100 Index. Apple shares have been pressured by concerns over iPhone sales in China and a fine from the European Union.The stock fell 0.6% on Wednesday, its sixth straight negative session. The 7.2% decline over that six-day drop has erased more than $200 billion in market capitalization.“At some point this hate is going to be too much, and most oversold in six years seems like a good place to start,” Michael Toomey, head of TMT trading at Jefferies LLC, wrote in a note to clients. He said the length of the stock’s underperformance relative to the Nasdaq 100 has been notable, adding that “feels like every day we get another negative AAPL datapoint, and it’s not particularly cheap.”Jefferies looked at the relative strength index of long Apple positions versus short positions in the Invesco QQQ Trust Series 1, the exchange-traded fund that tracks the Nasdaq 100. Based on this, “this is the most oversold AAPL/QQQ has been since early 2018.”Bespoke Investment Group LLC wrote in a post on X that Apple is more than three standard deviations below its 50-day moving average, and that “it hasn’t been this oversold since March 16th, 2020 in the throes of the COVID crash.”Even with the stock’s recent weakness, Apple shares trade near 25 times estimated earnings, above their 10-year average multiple of 19.Despite the selloff, options traders are showing few signs of fear, buoyed by the broader optimism about the biggest technology stocks. Implied volatility for three-month options has picked up from recent lows, but is around the middle of the range for the past year. And the put skew, measuring the premium investors will pay for protection against a decline, is holding near a two-year low.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":281681887019104,"gmtCreate":1709798503454,"gmtModify":1709800600010,"author":{"id":"4097219010083540","authorId":"4097219010083540","name":"Keshavlol","avatar":"https://community-static.tradeup.com/news/ddc96fb3d04f6da7889f242b5ca2ac40","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4097219010083540","authorIdStr":"4097219010083540"},"htmlText":"Dxd cca cca cmi &nbsp;C","listText":"Dxd cca cca cmi &nbsp;C","text":"Dxd cca cca cmi C","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/281681887019104","repostId":2417212548,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":281681638985824,"gmtCreate":1709798442899,"gmtModify":1709800600010,"author":{"id":"4087734860331830","authorId":"4087734860331830","name":"C_K_T","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087734860331830","authorIdStr":"4087734860331830"},"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/281681638985824","repostId":2417212548,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":7,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}