Going short on Apple here. By far the most overvalued company in the stock market right now, with a 2T market cap.
Below I will mention multiple indicators suggesting Apple will go through a big correction in the upcoming months:
1) Apple's P/E ratio is 22.57 (Stock is approximately priced in 22x it's actual worth)
2) Chart looks very bearish, with the broken trend line going for a retest here at around $137-140.
3) Along with Microsoft, it's the only tech giant that hasn't corrected 50+% over the last 12 months.
4) Earnings come out on the 25th of January, and the overall economic outlook suggests things could be slowing down for APPL
5) LAST BUT NOT LEAST, APPLE IS A COMPANY THAT HAS BECOME INCREASINGLY RELIANT ON CHINA/TAIWAN, AND ANY WAR OR ESCALATION THAT COULD BREAK OUT BETWEEN THE TWO NATIONS WILL BE DEVASTATING FOR APPLE,
@relievedMind65097 Thank you for the update. I had seen it somewhere a few weeks ago that it was on the 25th, I’ve been planning this trade out for a while
relievedMind65097
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@arthurgcar, I think the street calculated it would be Jan 25. The company says Feb 2. In my experience, when a company takes longer than usual to report, the report is not good.