Recording summary · September 2023
Why Apple Stock Could CRASH the US Stock Market
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Overview
Apple's stock declined from $189.94 to $174, facing downward technical pressure such as a head and shoulders pattern, double tops, lower highs, and lower lows that point to further drops toward lower support zones.
The iPhone 15 launch event, featuring updates like a 48-megapixel camera, an Action Button, and USB-C charging, functioned as a sell-the-news event that raises expectations of weak sales and risks disappointing upcoming quarterly earnings.
Historical market seasonality exhibits regular September sell-offs coinciding with annual iPhone launches, typically followed by relief rallies into Christmas and renewed selling in the new year.
Themes
Technical chart patterns and potential support targets for Apple stock.
The iPhone 15 lineup announcement and its impact on sales expectations.
Historical market seasonality surrounding annual iPhone launches and year-end trading.
Developments
Apple stock reached a high of $189.94 on September 6 before falling to $174.
Apple introduced the iPhone 15 lineup during a live launch event.
Uncertainties & gaps
Confirmation of whether iPhone 15 sales will flop depends on forthcoming quarterly earnings reports.
Apple stock might establish a double bottom and rally toward $196 rather than dropping immediately.
The full extent of any potential decline in Apple stock remains uncertain, with potential downside support levels spanning $170 down to $124.