Apple Under Pressure After Adverse Ruling

Apple has dropped around 5% from its recent highs along with a sell off in the broader market but perhaps also exacerbated by the recent ruling where "the U.S. District Court in Northern California found the tech icon in violation of the state’s Unfair Competition Law and issued an injunction that allows developers to place external links at the Apple store, enabling them to bypass the company’s formerly-exclusive payment system" (Source: finance.yahoo.com/ne...uling-130510241.html)

Apple is back at a pretty strong support area and has a new iPhone 13 launch coming up with week so that should help it rally, depending on what the overall market does.

Might be a buy if it goes up a little (stop order - or trailing buy order) or avoid if it goes down.

Worth a look.

Comment:

Now that their product launch has happened will be interesting to see if we get a rally over the next week.

Comment:

That was quite a drop. Direction is still uncertain.