With chatter about lower component orders due to lower than originally anticipated iphone 6s demand, Apple (AAPL) opened sharply lower, settling -3.2% @ $116.71. Near term outlook offers the 114/112 zone. Sustained action under the $110 threshold looks overly difficult.
Little to add.
It will often amuse me when the market finds another excuse to briefly knock the worlds finest tech' company lower.
Today, the market was upset at the notion of a possible 10% reduction in component orders for the iphone 6s.
On any 'fair value' basis, AAPL should be priced higher than the broader market. The April 2015 high of $132.81 will surely be broken above within the next few months.