Price target: $70.00/share
As part of my inverse big tech ETF...
Apple is another SHORT position going into this economic slowdown. Projecting $AAPL to decline about -60% to the 200-D MA, the .618 fib, and the pre-pandemic level.
1) Cause: Operating margin are coming down. Effect: Apple cutting costs (Bearish setup)
2) Market cap still holding on which is why $AAPL hasn't crashed yet.
3) Downward EPS revisions
As part of my inverse big tech ETF...
Apple is another SHORT position going into this economic slowdown. Projecting $AAPL to decline about -60% to the 200-D MA, the .618 fib, and the pre-pandemic level.
1) Cause: Operating margin are coming down. Effect: Apple cutting costs (Bearish setup)
2) Market cap still holding on which is why $AAPL hasn't crashed yet.
3) Downward EPS revisions