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November
20th
Apple Stock Hitting Support Levels
posted in Apple (AAPL) |Apple stock faltered earlier this month when the market slid south and speculation over AAPL’s P/E came under fire. Having fallen all the way down below $160 per share this month, Apple has recovered modestly and finished out today at $168.85 per share. As with much of the market, Apple should continue be under bearish pressure until the fog is lifted. Investors are looking to see major gains in earnings to rationalize the purchase of AAPL at such an enormous P/E. After today’s close, Apple trades at 42.9x earnings.
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