Market Overview

Apple Struggling To Hold Key $100 Level


Apple Inc. (NASDAQ: AAPL) shares are trading lower by $0.72 at $99.81 in Wednesday's session. After breaking out of over a month-long trading range since its Q1 report by adding $3.84 ($96.69 to $100.53), the issue has found willing sellers ahead of the $101 level.

In Tuesday's session, Apple peaked at $100.77 and could only improve to $100.88 before reversing course. Those levels correspond perfectly to its pre-earnings release high of $100.88 on January 26.

Wall Street analysts have been quiet regarding the issue. The latest commentary was on February 12, when FBR Capital maintained its Outperform rating but lowered its price target from $130 to $120.

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