Is Apple Moving Toward a Bull Market?
Apple’s (NASDAQ:AAPL) stock recently crossed a technical threshold that may indicate the Cupertino-based company’s shares will soon rise in value. As noted by MarketWatch, Apple’s stock hit the so-called “golden cross” last week when the 50-day moving average broke above the 200-day moving average.
Some analysts believe that this technical indicator is a sign that a stock is beginning to shift to a bull market. This would be a welcome change for Apple investors that have watched the stock lose over 30 percent of its value since hitting a $700-plus peak in September 2012.
The technical indicator comes during a week when Apple shares lost almost 7 percent of their value after the iPhone maker’s latest entries in the smartphone market failed to impress investors. Apple unveiled the iPhone 5C and the iPhone 5S at a media event on September 10.