Apple, Inc. (NASDAQ: AAPL) Still Leading the Sell Off in the Markets

Tom Gentile

Posted in
Daily Report

By: Tom Gentile
September 29th, 2022

2 mins read

This article is going to show that not only is AAPL being credited for leading the selloff based on reporting from a leading financial news network and its website.

AAPL stock was downgraded by a major investment bank today.  AAPL was seen as an outperforming stock in this bearish market environment, but even this mighty stock has come under selling pressure as of late,  This downgrade today had an effect where AAPL was trading down about 6%.

September History of Being Worst Performing Month for the S&P 500.

The selloff in the markets was seen as broad based, meaning their wasn’t just selling in one or two sectors, but in most of them no matter the sector or industry.

One could say that has been the case for the year, specifically this month of September.

Since 1950, September has been the worst month for the S&P 500 index.  According to my good friend Jeffrey Hirsch’s Trader’s Almanac the average loss for the S&P 500 is 0.5%.  Looking at the other major indexes in the same period none of them have traded lower on average.

The month isn’t quite over., but it is currently down 8-8.5%.

Continued Downside Momentum

There is data as to how October performs and I will write about that tomorrow, but for now if one is looking at a continued slide in the markets and one in AAPL specifically, due to this downgrade and overall continued market bearishness the Morning Reports Lists show AAPL on three of the lists and show the option where the most activity is taking place.

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