Apple Inc. (NASDAQ: AAPL)
Apple News & Technicals
There has been word that Apple Inc. (APPL) is slowing down production for its popular iPhone to start 2016 and shares are not liking what they are hearing as they are down over 2% premarket with lows breaching the huge $100 level down to $99.66. According to some notes on the situation, “Component suppliers that rode the iPhone’s boom are now bracing for lower sales. Apple has cut its order forecasts to iPhone suppliers in the past several months, according to three people familiar with the company’s supply chain.” (MarketWatch) We should see some more support around this big level but with the futures down a percent and a half premarket, it might not hold it for long. 2016 has been really rough for longs so far and it looks like its going to continue for the near future. After the $100 level I don’t see support coming in until around the $96, $95.18 and then the $92 level. Resistance will be met at the $102 and $106.40 level.
Apple, Inc. engages in the design, manufacture, and marketing of mobile communication, media devices, personal computers, and portable digital music players. The firm offers products and services under the iPhone, iPad, Mac, iPod, Apple Watch, and Apple TV brands; consumer and professional software applications under the iOS, OS, X, and watchOS brands; and operating systems under the iCloud and Apple Pay brands. It operates through the following segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA. (MarketWatch)