Apple shares are tumbling and investors are dumping the stock of the most famous tech company in the world. For technical analysts who use charts to predict the future trends of stocks, Apple made a huge sell signal today by hitting a 52-week low at $125.87. Many chartists will tell you that a downtrend consists of a series of three lower highs and three lower lows. By hitting a 52-week low on Wednesday, Apple has made this pattern for 2022.
Apple’s shares have made a series of lower highs and lower lows
Apple’s shares have taken a dive this year
Apple will reportedly take some iPhone 15 Ultra orders away from Foxconn
As TrendForce writes, “For 2023, Apple aims to double its device production capacity in India and have factories in Vietnam start making contributions by the middle of the year. In view of the escalating trade dispute between China and the US, Apple will be compelled to rely only on production sites outside China to meet the sales demand of the North American market.”
All of this makes for a depressing backdrop that is leading Apple investors to sell their shares. Over the last year, Apple’s stock has declined by $53.34 or nearly 30%. That works out to a stunning decline in market valuation for Apple of close to one trillion dollars over the course of this year.
