Apple warned in February it will miss revenue guidance for March for 2 reasons:
1. supply constrained
2. slower demand in China
The warning came before Corona started to spread outside of China like in South Korea and Italy. Likelyhood is high, that it will spread to the rest of Europe..and US as well.
Apple statement during the profit warning on feb 17:"Outside of China, customer demand across our product and service categories has been strong to date and in line with our expectations."
Apple is 10% of the high vs previous corrections of 30 to 40%.
305 - 313 gap area will act as major resistance. Aim for 240 - 230 which is the 200dMA and previous peak
1. supply constrained
2. slower demand in China
The warning came before Corona started to spread outside of China like in South Korea and Italy. Likelyhood is high, that it will spread to the rest of Europe..and US as well.
Apple statement during the profit warning on feb 17:"Outside of China, customer demand across our product and service categories has been strong to date and in line with our expectations."
Apple is 10% of the high vs previous corrections of 30 to 40%.
305 - 313 gap area will act as major resistance. Aim for 240 - 230 which is the 200dMA and previous peak