Apple is down 4% today for apparently no reason. There is no major news on Apple that would justify such a loss. Yet, over the past few months, the stock has been breaking down in an ominous way, usually for no reason other than heavy selling. What gives?
Here's my take. Market leadership has narrowed in the US market as earnings estimates have come in. This year, we are starting to see earnings tick lower year-on-year for the first time in a long time. And Apple, with its huge market cap, is l...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.