Apple Stock at Risk of Entering Bear-Market Territory--Update
November 19 2018 - 1:05PM
Dow Jones News
By Amrith Ramkumar
The world's most-valuable public company is at risk of closing
in a bear market, a worrisome sign for investors questioning
whether the U.S. stock rally can regain its footing without
leadership from the technology sector.
Apple Inc. shares fell more than 4% to $185.63 in midday trading
Monday, bringing the stock more than 20% below its Oct. 3 peak.
A close at or below $185.65 would push Apple to the 20% decline
that typically characterizes a bear market. Apple shares since
recovered slightly Monday but were still down 3.9% at $185.91.
After the stock held up during October's stock-market rout,
losing 3%, a tepid revenue forecast earlier this month has sent
Apple tumbling.
Other technology stocks were also slumping Monday, with
Amazon.com Inc., Google parent Alphabet Inc., Microsoft Corp.,
Facebook Inc. and Netflix Inc. all falling at least 2.7%. The
tech-heavy Nasdaq Composite fell 2.6%.
Write to Amrith Ramkumar at amrith.ramkumar@wsj.com
(END) Dow Jones Newswires
November 19, 2018 12:50 ET (17:50 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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