tsla

Where Does Apple Inc. (AAPL) Go Now?

Apple Inc. (NASDAQ:AAPL) shed 6.3% on Wednesday, but could be poised for a short-term bounce

Apr 28, 2016 at 9:48 AM
facebook X logo linkedin


Apple Inc. (NASDAQ:AAPL) plunged 6.3% on Wednesday, after the iPhone maker's devastating fiscal second-quarter earnings report was met with a slew of bearish brokerage notes. According to Schaeffer's Senior Quantitative Analyst Rocky White, this is the 11th time AAPL has logged a one-day drop of 6% or more going back to October 2008 -- but if past is precedent, the stock could quickly bounce back.

In fact, looking out one week past a single-session drop of 6% or more, shares of AAPL have gained, on average, 1%. This average return jumps to 3.4% going out two weeks. Over both time frames, AAPL stock has been positive 70% of the time. Today, Apple Inc. (NASDAQ:AAPL) is lower along with the broader equities market -- down 0.5% at $97.35. Per the chart below, though, this isn't that unusual.

AAPL historical returns after big losses April 28


Updated after the close:
AAPL continued its downward trend, selling off in late-session trading after activist investor Carl Icahn said he unloaded his stake. The shares of AAPL gave up 3.1% to end at $94.81, bringing their week-to-date deficit to 10.3%, and marking their longest losing streak in three years.

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical levels, and top economic stories straight to your inbox.


 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.