Brokers have been getting bombarded with questions about Apple, which is down nearly 4% today.
Credit Suisse has put together 6 reasons the stock is tanking:
1) failed 100 dma
2) yesterday’s Trainer midday note w $240 number
3) this was out this morning (and dont think they left much anyway “Apple /quotes/zigman/68270/quotes/nls/aapl AAPL -3.37% shares were down more than 3% to $429.60 on the news that Julian Robertson’s Tiger Management LLC dumped the remainder of its once sizable stake in the company, according to the fund’s latest 13-F filing with the Securities and Exchange Commission
4) follow thru post Hon Hai (supplier) #s weaker yesterday
5) was fairly low conviction rally from 400 – 450
6) GOOG strentgh — prob some rotation out of one into othe
Everything you need to know about Apple.