The share prices for Apple experienced a dip in the Thursday trading session. The stock price demise of Apple was very concerning for investors on that particular day.
The share price dip for Apple has been worse than the performance demonstrated by the S&P 500 and the NASDAQ indexes on Thursday.
Apple Shares Experienced the Worst Dip
Almost the entire stock market suffered a dip in the Thursday trading session. However, the share prices for the iPhone creator experienced a major dip on that particular day.
In the entire stock market, the only tech company that faced the worst share price dip was Netflix, the online video streaming giant.
Even the share prices for other major tech companies experienced declines. These major companies include Tesla and Microsoft. Still, their declines were not as bad as Apple’s stocks.
Apple is Feeling the Pressure
Since the start of 2022, the entire tech industry has continued to face a major downtrend. The stock prices for all major tech companies have continued to face downtrends but not Apple.
It seemed that Apple was exempt from the market downtrends even after so many months had passed in the year 2022. Even major companies such as Microsoft ended up facing huge declines in their share prices.
Despite the overall market downtrend, Apple’s stocks continued moving higher and they demonstrated the best performance compared to all major tech companies.
Unfortunately, the macroeconomic downtrends have finally caught up to the growth of Apple. The company is now feeling the pressure.
Its unsinkable ship that kept sailing on a high wind throughout 2022 is finally losing its momentum. Other companies have spent the same period facing major selling pressure.
Unfortunately, Apple has not suffered the same situation for most part of the year. However, as the year 2022 is coming to an end, things have started to take a different turn for Apple.
Current Situation of Apple Stocks
Despite the recent downtrend, Apple is the largest tech company in the entire world with respect to market valuation. The overall valuation of the tech giant is still more than $2 trillion.
Although the majority of the tech companies have recorded huge year-to-date share price dips, Apple has recorded a 29.5% YTD dip in its share prices.
On the other hand, the stock prices for Apple have dipped 37.8% from all-time high share prices. As the economic pressure has continued rising, the share prices for Apple have started facing a downtrend as well.
Factors Hitting the Apple Share Prices
Several negative factors have hit the Apple market in recent months. One factor is that iPhone production in China has been badly impacted by the COVID lockdowns.
Then comes the policy update by Apple in terms of its App Store, which is causing the company to lose its business across the globe, mainly in Europe.
The high inflation rates and the fear of economic recession are also among the major factors that have gotten Apple’s share prices.
Although the company was safe from these negative factors but despite the efforts, the company has started taking the heat. The economic downtrend has finally surrounded Apple and it is also paying the price.
On Thursday, the share prices for Apple experienced a major downtrend. The share prices for Apple dipped by 4% on that particular day. This is the worst dip Apple shares have experienced since September 29.
The decline was strong enough to pull the trading price of Apple’s stocks below the support zone of $140 to $141.
This was a strong support zone that the investors had been trying hard to protect. Finally, the selling pressure has caught up and has overcome the buyers pulling Apple’s share prices.
The share prices for Apple falling below the $140 level may have left an opening for the sellers to launch another selling attack. If that continues, Apple share prices may continue declining and may fall to $118.