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Monday
Apr232012

Apple Poised For Ninth Down Close in Ten Days

Will shares of Apple (AAPL) make it nine out of ten?  As it stands now, the stock could close down on the day for the ninth time in ten trading days.  Over the last ten years, there have only been seven other times where the stock has seen nine down days over a ten trading day period, and there has not been a single period over the last ten years where the stock has been down ten days in a row.

In the chart below we highlight each period over the last ten years where AAPL was down nine out of ten days.  In the table, we also highlight how the stock performed over the following week and month.  Following the seven prior periods, AAPL averaged a gain of 4.41% over the following week with positive returns six out of seven times.  Over the following month, the stock has averaged a gain of 3.57% with positive returns five out of seven times.  Compared to AAPL's average return for all one week and one month periods over the last ten years, the returns following the seven periods highlighted have been considerably better than average over the next week, but slightly below average over the next month.  With earnings set to be released after the close tomorrow (4/24), the results will have a big impact on how the stock performs going forward, but we wanted to highlight these prior periods nonetheless.

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