1. “Apple shares fell nearly 5 per cent to $194.89 amid weak forecasts from supplier Lumentum Holdings. The iPhone maker’s market capitalisation hit its lowest since mid-August having fallen below the $1tn mark earlier this month. The sell-off in Apple weighed on the broader technology sector.”
-Mamta Badkar, Financial Times.
2. “The Dow Jones Industrial Average fell 602 points on Monday after a big decline in Apple shares … The decline in Apple pressured the broader technology sector. The Technology Select Sector SPDR dropped 3.5 percent.”
-Fred Imbert, CNBC.
3. “Stocks are at a turning point, and it could be Apple and other technology names that help decide whether the market revisits October lows. The S&P 500 was down about 2 percent Monday, at 2,726, and technical analysts say it needs to hold a level just above 2,700 or it could drop about 100 points to test recent lows.”
-Patti Some, CNBC.
4. “If the market is going to show commitment to the recent rally, then 2,700 holds, and if 2,700 doesn’t hold, everyone and their mother is going to be talking about a retest of 2,603, and one thing to watch is Apple. If Apple goes past $190, and goes into the $180s, you’re talking about a retest of the lows.”
-Scott Redler, T3Live.com.