Apple (AAPL) stock has been trading sideways since July 2023 as the company continue to face headwinds from federal anti-trusts and declining iPhone sales. Just today, iPhone sales were reported to be down 4% year-over-year with significant drops in China, India and U.S.
As the stock treads water near the $167.7X support from September 2023, investors should watch closely whether this support will hold. If not, investors should expect another double-digit percentage drop. The good news is that the next support has proven to be a strong support over the last ~20 years.