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Apple stock fell 14% from its ATH. How low can Apple stock go?

@Tiger_James Ooi：

Stock Performance: Apple ( $Apple(AAPL)$ ) stock has experienced a 14% decline from its all-time high (ATH) and an 11% decrease year-to-date. The underperformance, particularly in comparison to other Magnificent Seven stocks, can be attributed to several factors: Analysts downgraded Apple stock. Counterpoint Research reported a 24% year-on-year drop in iPhone sales, while Huawei's smartphone sales saw a notable 64% year-on-year increase in the first six weeks of 2024. Source: Countetpoint Technical Analysis: A Double Tops reversal pattern is currently forming, with a target price of USD133.03 anticipated once the stock breaks below the neckline at USD165.24. Considering the weak candlestick pattern, it is plausible that Apple stock might challenge the neckline at USD165.24, potentially leading to a false breakout below the neckline to attract short selling interest. Short-term upside catalysts include the 2Q2024 earnings release scheduled for May and WDDC 2024 in June. Given the months-long wait for potential upside catalysts, bears could have ample time to generate market panic based on weak China sales and drive Apple stock lower. Our long-term outlook for Apple stock is positive, and investors with a long-term perspective might consider utilizing Fibonacci extension levels for accumulation. Support levels can be identified at USD162.69, USD135.18, and USD113.53.

Apple stock fell 14% from its ATH. How low can Apple stock go?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The significance of Cook's visit to China is crucial. \nIn the fourth quarter of last year, Apple's revenue and profit grew both . But Greater China revenue fell 13% year-on-year, becoming the only large regional market to decline in the quarter.\n---------------------\nHow do you view Apple's business in China?\nIs Cook's visit represent a good signal?\nIf Apple drops to 165, would you consider buying the dip?","image":"https://community-static.tradeup.com/news/b83b8dfb5e0bd45df51fe1547db5d3f6"}],"images":[{"img":"https://community-static.tradeup.com/news/8f2e9935ce854391d5217d309b8a9754","width":"1634","height":"832"},{"img":"https://community-static.tradeup.com/news/d9c35604a6eb69e68df98e9c5fb0bc20","width":"1080","height":"651"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/8f2e9935ce854391d5217d309b8a9754","width":"1634","height":"832"}],"title":"Apple stock fell 14% from its ATH. How low can Apple stock go?","html":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8f2e9935ce854391d5217d309b8a9754\" tg-width=\"1634\" tg-height=\"832\"></p>\n<blockquote>\n <strong>Stock Performance:</strong>\n</blockquote>\n<ul>\n <li><p>Apple ( <a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$</a> ) stock has experienced a 14% decline from its all-time high (ATH) and an 11% decrease year-to-date.</p></li>\n <li><p>The underperformance, particularly in comparison to other Magnificent Seven stocks, can be attributed to several factors:</p></li>\n</ul>\n<ol>\n <li><p>Analysts downgraded Apple stock.</p></li>\n <li><p>Counterpoint Research reported a 24% year-on-year drop in iPhone sales, while Huawei's smartphone sales saw a notable 64% year-on-year increase in the first six weeks of 2024.</p></li>\n</ol>\n<p></p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d9c35604a6eb69e68df98e9c5fb0bc20\" tg-width=\"1080\" tg-height=\"651\"><span>Source: Countetpoint</span></p>\n<blockquote>\n <strong>Technical Analysis:</strong>\n</blockquote>\n<ul>\n <li><p>A Double Tops reversal pattern is currently forming, with a target price of USD133.03 anticipated once the stock breaks below the neckline at USD165.24.</p></li>\n <li><p>Considering the weak candlestick pattern, it is plausible that Apple stock might challenge the neckline at USD165.24, potentially leading to a false breakout below the neckline to attract short selling interest.</p></li>\n <li><p>Short-term upside catalysts include the 2Q2024 earnings release scheduled for May and WDDC 2024 in June.</p></li>\n <li><p>Given the months-long wait for potential upside catalysts, bears could have ample time to generate market panic based on weak China sales and drive Apple stock lower.</p></li>\n <li><p>Our long-term outlook for Apple stock is positive, and investors with a long-term perspective might consider utilizing Fibonacci extension levels for accumulation. Support levels can be identified at <strong>USD162.69, USD135.18, and USD113.53.</strong></p></li>\n</ul></body></html>","htmlText":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8f2e9935ce854391d5217d309b8a9754\" tg-width=\"1634\" tg-height=\"832\"></p>\n<blockquote>\n <strong>Stock Performance:</strong>\n</blockquote>\n<ul>\n <li><p>Apple ( <a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$</a> ) stock has experienced a 14% decline from its all-time high (ATH) and an 11% decrease year-to-date.</p></li>\n <li><p>The underperformance, particularly in comparison to other Magnificent Seven stocks, can be attributed to several factors:</p></li>\n</ul>\n<ol>\n <li><p>Analysts downgraded Apple stock.</p></li>\n <li><p>Counterpoint Research reported a 24% year-on-year drop in iPhone sales, while Huawei's smartphone sales saw a notable 64% year-on-year increase in the first six weeks of 2024.</p></li>\n</ol>\n<p></p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d9c35604a6eb69e68df98e9c5fb0bc20\" tg-width=\"1080\" tg-height=\"651\"><span>Source: Countetpoint</span></p>\n<blockquote>\n <strong>Technical Analysis:</strong>\n</blockquote>\n<ul>\n <li><p>A Double Tops reversal pattern is currently forming, with a target price of USD133.03 anticipated once the stock breaks below the neckline at USD165.24.</p></li>\n <li><p>Considering the weak candlestick pattern, it is plausible that Apple stock might challenge the neckline at USD165.24, potentially leading to a false breakout below the neckline to attract short selling interest.</p></li>\n <li><p>Short-term upside catalysts include the 2Q2024 earnings release scheduled for May and WDDC 2024 in June.</p></li>\n <li><p>Given the months-long wait for potential upside catalysts, bears could have ample time to generate market panic based on weak China sales and drive Apple stock lower.</p></li>\n <li><p>Our long-term outlook for Apple stock is positive, and investors with a long-term perspective might consider utilizing Fibonacci extension levels for accumulation. Support levels can be identified at <strong>USD162.69, USD135.18, and USD113.53.</strong></p></li>\n</ul></body></html>","text":"Stock Performance: Apple ( $Apple(AAPL)$ ) stock has experienced a 14% decline from its all-time high (ATH) and an 11% decrease year-to-date. The underperformance, particularly in comparison to other Magnificent Seven stocks, can be attributed to several factors: Analysts downgraded Apple stock. Counterpoint Research reported a 24% year-on-year drop in iPhone sales, while Huawei's smartphone sales saw a notable 64% year-on-year increase in the first six weeks of 2024. Source: Countetpoint Technical Analysis: A Double Tops reversal pattern is currently forming, with a target price of USD133.03 anticipated once the stock breaks below the neckline at USD165.24. Considering the weak candlestick pattern, it is plausible that Apple stock might challenge the neckline at USD165.24, potentially leading to a false breakout below the neckline to attract short selling interest. Short-term upside catalysts include the 2Q2024 earnings release scheduled for May and WDDC 2024 in June. Given the months-long wait for potential upside catalysts, bears could have ample time to generate market panic based on weak China sales and drive Apple stock lower. Our long-term outlook for Apple stock is positive, and investors with a long-term perspective might consider utilizing Fibonacci extension levels for accumulation. Support levels can be identified at USD162.69, USD135.18, and USD113.53.","highlighted":1,"essential":2,"paper":2,"link":"https://ttm.financial/post/281390326607872","repostId":0,"isVote":1,"tweetType":1,"commentLimit":10,"symbols":["AAPL"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1185,"xxTargetLangEnum":"ORIG"},"isVote":1,"tweetType":1,"viewCount":495,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":36,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}