Wednesday, August 5, 2015

Apple (AAPL) is falling.......ANOTHER PESKY FACT!

Apple (AAPL) is falling.......

The benchmark technology stock cratered through its 200-day moving average yesterday. Then it fell even further today to as low as $113.25, making it 10 losing sessions out of the last 11.

Not only that, but Apple is now 15% off its intraday high in April around $134.50. All of that adds up to make this the stock's first significant technical breakdown since late 2012.

So what's going on? And how far could Apple drop?

One key problem is disappointment over the Apple Watch, an overpriced, unnecessary accessory.

Another threat is China. Apple gets around 25% to 30% of its sales in China, depending on the quarter. So fears about China's market meltdown and weakness in the broader economy there are weighing on Apple shares.

The technical breakdown of a major market bellwether is definitely gaining notice on Wall Street. What's more, it's yet another worm winding its way through a market that's getting increasingly full of worrisome holes.

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