I'm short $AAPL here, I think it is at risk if tensions escalate further with China, after $NVDA and $AMD were banned from exporing sensitive AI related gear to China. The chart shows a weekly down trend has popped and a monthly decline can confirm on close if it stays down long enough. Downside is substantial, as seen on chart, the last weekly trend hit the target, before staging a rapid relief rally following the expiration of the trend. I identified the bottom when Goldman Sachs cut their target for $AAPL downgrading it before an epic rally ensued. They have a pretty good inverse track record historically in this regard.
Best of luck if taking this trade,
Cheers,
Ivan Labrie.
Best of luck if taking this trade,
Cheers,
Ivan Labrie.
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