Posted 3/5/2024, 8:50:03 PM
Apple Stock Slides Below $170 as Growth Concerns Mount, Raising Fears of Broader Tech Pullback
- Apple stock has fallen below $170, a critical support level, raising concerns of a further pullback
- The stock is down 12% in 2022, erasing over $300B in market value and losing its crown as most valuable US company
- Apple faces issues like regulations, declining China sales, investor growth concerns after its weak Q4 outlook
- Short sellers are targeting the stock as it continues setting new lows relative to the tech-heavy Nasdaq
- Technical analysts are watching to see if Apple's multi-year uptrend holds; a break could pressure tech stocks broadly