Apple stock heads toward longest losing streak of the year
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Apple stock heads toward longest losing streak of the year
Monday, August 7, 2023 4:38 pmNo Comments
Apple shares were on track to close at a five-day low on Monday, marking their longest losing streak of the year. The stock was down about 1.7% in afternoon trading, extending its decline from last week. This is the first time that Apple shares have closed lower for five consecutive days since December 2022.
Off 9.1% over the current five-session span, Apple’s stock is on track for its largest five-day percentage decline since the period that ended Nov. 7, 2022, when it fell 9.4%.
Apple delivered its latest quarterly results after Thursday’s closing bell, showing a third quarter in a row of revenue declines and hinting that performance could be similar in the current quarter.
MacDailyNews Take: We hold out hope that the insanity will continue at least into sub-$170 gift territory.
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