Key Points
Apple Inc. has struggled in 2024, and the recent weakness has the stock looking like it is the most oversold in years, analysts said...
Shares of the iPhone maker are down 14% from a recent peak and have dropped 12% this year, compared with a gain of 7.42% for the Nasdaq 100 Index..
Apple shares have been pressured by concerns over iPhone sales in China and a fine from the European Union...
Jefferies looked at the relative strength index of long Apple positions versus short positions in the Invesco QQQ Trust Series 1, the exchange-traded fund that tracks the Nasdaq 100..
Bespoke Investment Group LLC wrote in a post on X that Apple is more than three standard deviations below its 50-day moving average, and that it hasnt been this oversold since March 16th, 2020 in the throes of the COVID crash...
You might be interested in
Top 5 highest gaining stocks as Nasdaq 100 re-enters bull market
30, Mar, 23Most of the world's leading blue-chip corporations, including Tesla, Apple, Amazon, Meta, Google and many others, are listed on the Nasdaq-100 Index.