Growth Stocks Begin Down A Slippery Slope As Apple's Earnings Miss May Be Just The Beginning
Portfolio Pulse from David Keller
The article discusses the recent earnings reports of Apple (AAPL) and Amazon (AMZN), and the potential impact on the broader market. The author notes a shift from bullish to bearish market breadth indicators, suggesting a potential downturn for growth stocks. Both AAPL and AMZN showed similar technical setups before their earnings reports, but had different reactions afterwards. AAPL gapped down after earnings, while AMZN gapped up but ended the day near its low. The author suggests that the lack of buying power could lead to further downside for these and other growth stocks.
August 08, 2023 | 2:52 pm
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NEGATIVE IMPACT
Apple's stock gapped down after its earnings report, indicating a potential bearish trend.
Apple's stock price gapped down after its earnings report, indicating a potential bearish trend. This could lead to further downside for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Amazon's stock gapped up after its earnings report, but ended the day near its low, suggesting a potential bearish trend.
Amazon's stock price gapped up after its earnings report, but ended the day near its low. This suggests a potential bearish trend and could lead to further downside for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100