AAPL has broken it's trendlines and is below all the falling moving averages. If the support areas are broken, I imagine we could be in for a big drop. Here's a video from a trader I watch: http://www.freetradingvideos.com/vlog/default.asp?category=1
Sources have confirmed reports by 9to5Mac.com and Valleywag that around 50 enterprise salespeople were laid off at Apple (AAPL) last week. Workers in Cupertino, California were let go,a s well as an entire sales group based in Austin, Texas. The affected employees were given severance packages and allowed to apply for other jobs inside Apple.
Charts are very valuable, but take alot of training and experience to read properly, however, are of course not a holy grail in trading. Charts hadn't signaled anything, only that we were nearing support, and might be setting up in the near future for either a bounce or a shorting oppurtunity.
If you're responding to stock_tdr3r, be advised that he's mentally retarded, and actually celebrating because he's down 85% instead of 90% as of yesterday, as he prepares to buy at the top (paper trading account) of each bear market rally from here on in. He also likes to eat paste.
Apple is a primary stock I have traded for years. If you chart apple on the daily time frame and do some different technical analysis you may get a different perspective. First draw regression channels from October 2008 until today. You will see Apple is in the middle of channel and quite a ways from either a channel break out up or down. I see no trouble. I will be long Apple about 92.75 if it breaks out above the last group of price bars
AAPL Apple: Announces entirely new iPod shuffle, could become a surprise hit - Kaufman (93.12 +4.49) AAPL refreshed its iPod shuffle with an entirely new form factor and speech technology. Notably, its price point is now $79 versus previous price points of $49 and $69. Firm says the timing is a pleasant surprise. Firm had heard of new model development for some time and were wondering when it would be released. Firm finds it impressive that AAPL is able to raise the price of the new iPod shuffle. Firm believes this should help AAPL at least preserve its margins and raise its iPod ASPs which currently stand at $148. Despite the increase in its price point, firm believes customers will find its sleek new form factor, higher storage capacity, headphone with built-in remote, and ability to speak song, artist, and playlists attractive. Firm believes iPod shuffle could end up being a surprise hit.