Apple Warns for the First Time in 15 Years

08:53 01/03/2019

Volatility is still very much alive and well. But you should be okay, especially if you took our suggestion to buy into some of our favorite volatility trades including: iPath S&P 500 VIX Short-Term Futures (VXX) ProShares Ultra VIX Short-Term Futures (UVXY) VelocityShares Daily 2x VIX Short-Term ETN (TVIX) All are headed even higher this morning after Apple AAPL  stunk up the market, cutting sales guidance for the first time in 15 years. All thanks to a drop in iPhone sales, China’s slowing economy and trade war tensions. Investors and analysts alike aren’t too pleased with the news. The one-time high-flier has sunk fast and could easily slip well under $110, near-term in our opinion once it breaks below $150 support. Analysts at Jefferies downgraded the stock from a buy rating to a neutral rating, noting, “Biggest miss in years. Apple’s business in China appears to be rapidly deteriorating.

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
Most Read