Recently, we noted that Apple (AAPL) is currently in the midst of its 4th 20%+ drawdown in the iPhone era. Below we highlight Apple’s price relative to its 50-day moving average (DMA). As shown in the first chart below, AAPL’s share price has plunged well below its 50-DMA on this recent move lower.
Just how far is Apple below its 50-day moving average? At -19.02%, this is the farthest AAPL has been below its 50-DMA in 10 years dating back to the Financial Crisis. AAPL hasn’t been this far below its 50-DMA throughout the entire bull market for equities that began on March 9th, 2009.Talk about brutal action lately.
