Apple just released a significant production and supply profit warning
blaming the projected quarterly shortfall on the deadly virus overtaking China.
In doing so,they become the first of what could be many large companies
doing big business in China to warn of an "unexpected and sudden drop off" in sales,
as their last guidance in January was completely upbeat.
It's kinda like an airplane flying at 35,000 feet suddenly declaring an emergency,
because of loss of cabin pressure, in that kind of altitude.
With Apple as well as countless other tech stocks and suppliers in the key chain, priced to almost absolute perfection, this acknowledgment from Apple, of this kind of sudden slowdown will have broad and deep ramifications.
As shown on the 60 Minute Chart,
Apples stock price looks be headed back down towards $300 a share level,
in a rollover chart pattern, a potentially dangerous pattern to have in place.
I assure you that this "sudden warning" will be treated quite seriously
by big money institutional investors,
whose reaction could be to sell Immediately , ..and ask questions later.
AAPL Last 324.95
THE_UNWIND
2/18/20
NEW YORK
blaming the projected quarterly shortfall on the deadly virus overtaking China.
In doing so,they become the first of what could be many large companies
doing big business in China to warn of an "unexpected and sudden drop off" in sales,
as their last guidance in January was completely upbeat.
It's kinda like an airplane flying at 35,000 feet suddenly declaring an emergency,
because of loss of cabin pressure, in that kind of altitude.
With Apple as well as countless other tech stocks and suppliers in the key chain, priced to almost absolute perfection, this acknowledgment from Apple, of this kind of sudden slowdown will have broad and deep ramifications.
As shown on the 60 Minute Chart,
Apples stock price looks be headed back down towards $300 a share level,
in a rollover chart pattern, a potentially dangerous pattern to have in place.
I assure you that this "sudden warning" will be treated quite seriously
by big money institutional investors,
whose reaction could be to sell Immediately , ..and ask questions later.
AAPL Last 324.95
THE_UNWIND
2/18/20
NEW YORK