Apple Inc. AAPL shares are trading lower by $1.76 at $151.53 in Friday's session. It has been lower in all but one session this week, when it had a paltry 6-cent gain on Tuesday.
The floodgates opened on Wednesday, when the stock breached the major support level of $158.00 and had well over $2.00 losses on Wednesday and Thursday to go along with a similar decline today.
See Also: Why Apple Investors Shouldn't Worry About This Sell-Off
Wall Street firms are speculating on weak preorders for its newest edition of the iPhone and with the new phone due out in October, production has not yet begun.
After a lower open, Apple's stock found sellers ahead of the lower-end of Thursday's range ($152.75), only reaching $152.27 before continuing its move lower. So far, the ensuing decline took the stock to $150.56, but has rebounded back into the $151.00 handle.
Before its solid Q3 beat on Aug. 1, Apple closed at $150.05 and added $7.00 following the report to close at $154.14.
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