This is another of my ten surprises for 2013. Apple is down 50 points today, well below its shoulder line on a topping head and shoulders pattern. The stock is breaking down. But there is a lot more pain to come. I have been increasingly negative on Apple since March of last year. While I warned you in March about margin compression, I made no mention then of stock price impact because Apple had enough momentum to ride out a miss or two. Now that Apple has begun to miss and the stock has cratered, earnings declines and larger share price declines are what we should expect in 2013.
Usually I don't get into specific stocks, but Apple is such a bellwether and so widely owned, I have made an exception here. Let me walk you through the timetable since March because it gives you a history of ho...
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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.