Apple shares fell 4.5% on Thursday after Bank of America analysts made a rare downgrade. Analysts lowered the rating from buy to neutral and the price target from $185 to $160. They expected “consumer demand to weaken” over the next year and pointed to macroeconomic challenges.
Yahoo Finance
This quote explains Wednesday’s 500-point gain reversed dramatically on Thursday. The ratio of new highs to new lows has reached extremes (many new lows to highs), marking historical short-term lows. But this downgrade cost Apple his $7.36 or 4.9% plunge. The market reaction has made it clear that everyone owns Apple, whether they realize it or not.
Apple’s market capitalization is the highest of all stocks. Many ETFs, mutual funds and exchanges are incorporating it to improve performance. But on Thursday we learned that it works both ways. I think Of America is right. Apple just released his iPhone 14 and Watch 8. Should everyone upgrade to another product that is very similar to the previous one?
Let’s check the new Highs and Lows indicators again. The low was on September 23, and the new low is 1,100 times higher than the high. This figure reversed to just above minus 300 on Wednesday, September 28th. However, Thursday’s sharp drop returned it to minus 812. However, this is still above the September 23rd low. Industrials are all flat, as I wrote in the premarket on Friday, September 30th. A weekly close above 30,000 is required for the daily trend to turn upward. i think we’ll get it. The main trend is the downtrend and the rally is the countertrend. But the recent extreme lows suggest at least a short period of time, say two weeks, to bounce back in his October.
The time is ripe for a women’s revolution in Iran and Russia. In Iran, 22-year-old girlfriend Masha Amini was arrested for breaking hijab rules and hiding herself in public. She died while in her custody. She definitely beat her to death. Her photos show people, cars and motorbikes clogging the streets and all protesting. Ayatollah Ali Khamenei has not kept pace with an increasingly westernized culture. To make matters worse, his health is deteriorating.
On the other hand, in fact, there is an organized Russian Mother of Soldiers Committee. The group helped bring an end to the Chechen adventure that saved the lives of countless Russians. Now at the border crossing he is stuck in traffic six miles long. A man is desperate to escape the 300,000 conscription for more casualties in Ukraine in a losing position. Ukraine has set up a hotline for Russia to surrender. And the Russian soldier is calling.
