AAPL - unable to hold the $400s

Whilst the main market closed around 1% higher, AAPL was particularly weak, closing -$4.61 @ $398. The failure to close in the $400s will doubtless increase the downward pressure across the next few days. Next key support is the April'19th low of $382.


AAPL, daily

Summary

A particularly lousy daily close for AAPL.

A test of the recent low now seems a given, and the only issue is whether it will hold.
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If my main market outlook is correct, with sp' hitting 1530s, that will surely equate to AAPL in the low 380s, if not 370s, even the 350s (briefly).

I do expect sp'1500s to hold, with some significant rally into late July/early August. Even if AAPL breaks a new low, it'll surely break back into the mid 400s within 4-6 weeks.

Relative to the main market, it remains a bizarrely under-valued company, although clearly, its probably 'passed its prime'.