Apple (AAPL) Share Price Drops Over 7% in Two Days

As previously reported, AAPL shares had their worst January since 2008, but the challenges for investors have continued. The Apple (AAPL) stock chart shows that:

• Yesterday, the price dropped below $218 during trading—the lowest level since September last year.
• Compared to Friday’s closing price, the decline over the first two days of this week amounted to approximately 7.7%.

Why Has AAPL Stock Fallen?

Yesterday, we noted that bearish sentiment was prevailing in the stock market, leading the Nasdaq 100 index into correction territory. Market conditions were further dampened by news that Apple had delayed the release of an AI-powered update for its digital assistant, Siri 2.0, increasing selling pressure.

What Could Happen Next?

Technical Analysis of Apple (AAPL) Stock

Key price reversals, marked with red dots, outline a downward channel (shown in red). The median line, which previously acted as support (indicated by an arrow), has now been broken, suggesting that bears may expect it to act as resistance going forward.

From a bullish perspective, the lower boundary of the red channel, reinforced by the September low around $214, could serve as an area where selling pressure might ease—if AAPL continues to decline.

AAPL Share Price Forecast

According to TipRanks:

• 18 out of 33 surveyed analysts recommend buying AAPL stock.
• The average 12-month price target for AAPL is $251.

Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.