Apple Stock Takes A Tumble: Unraveling the Factors Behind Its Consecutive Two-Day Decline Post-Earnings
Portfolio Pulse from Zaheer Anwari
Apple Inc's stock price has declined for two consecutive days despite surpassing its Q3 earnings expectations. The stock price decreased by 6.46% immediately after the earnings release. However, the stock is up 37% year to date. The key level Apple must pass is last year's high at $182.94. The August 2022 high of $176.15 could act as a support level.
August 08, 2023 | 5:10 pm
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Apple's stock price declined despite better than expected Q3 earnings. The stock is up 37% YTD. Key resistance and support levels are $182.94 and $176.15 respectively.
Despite surpassing its Q3 earnings expectations, Apple's stock price declined for two consecutive days. This is likely due to profit-taking after the recent surge. However, the stock is still up 37% year to date. The key resistance level that Apple must pass is last year's high at $182.94. On the downside, the August 2022 high of $176.15 could act as a support level.
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