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Apple stock tests key technical level amid worst start since 2008

MacDailyNews

Jan 24

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Apple’s stock has experienced a challenging beginning to the year, now hovering near a critical threshold that could indicate further declines if it falls below the mark.

The stock has dropped by 11% in 2025 up to Thursday’s close, marking it as the weakest performer among the Magnificent Seven group. This performance lags significantly behind the S&P 500, which has seen a 4% increase, reaching new record highs at the year’s start. This downturn represents Apple’s most dismal yearly opening since 2008, based on Bloomberg’s data compilation.

Despite this horrible start to the year, Dan Ives, who leads technology research at Wedbush Securities, remains optimistic about Apple’s forthcoming earnings report. Ives shared his insights with Tom Keene and Paul Sweeney on Bloomberg Radio.

Carmen Reinicke for Bloomberg News:
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The decline has brought shares within a few dollars of the 200-day moving average, a technical level that can be seen as a long-term support and is one that many traders watch.
The level is “always a good reference point of trend,” said Todd Sohn, an ETF and technical strategist at Strategas Securities LLC. “When you get names starting to flirt with it or start to break below it, you kind of lose confidence that the uptrend of that name is still intact.”
“The market has been pretty resilient in light of the fact that Apple has been under pressure,” Katie Stockton, managing partner and founder of Fairlead Strategies LLC, said. Still, “it definitely has the potential to create some more risk for those major indices. If we see that downside follow-through that we’re anticipating, that makes it more challenging, of course, for those indices to shrug it off.”
Stockton sees further declines for Apple stock, she said. If shares do fall below the 200-day moving average, the next level she’s watching is around $208, based on a technical analysis called Ichimoku.

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MacDailyNews Take: And here we were hoping for sub-$220! If someone can talk it down to sub-$210 or (dare we dream) sub-$200, we’ll be in love!

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