After losing its $3 trillion market capitalization title, technology investors will watch Apple (AAPL) today. Apple’s stock chart is flashing a “double top” bearish warning pattern. Shares traded at $198 last August 2023 before falling to $166. Between late October 2023 through mid-December, the stock traded close to $200.
Analysts piled on the downgrades against AAPL stock, even though the appeals court paused the Apple Watch ban. It received the second downgrade in four days as of yesterday. Analysts are worried that a huge camera upgrade on the iPhone 17 may not help sales.
ETF investors should watch the small-cap index. The Russell 2000 ETF, IWM, lost 5.3% in the last week. Trading last at below $194, the next support zone is at $180.
Increasingly fearful growth investors might turn to the super-safe dividend stocks. Seeking passive income instead of growth is a dramatic strategic shift. Be wary of changing the game plan. McDonald’s (MCD) stock is the third one to watch. The stock already bounced back by 19% from its 52-week low. It pays a dividend that yields only 2.13%.
Walgreens (WBA) is the fourth stock to watch. It does not offer safety in dividends. The firm cut its dividend by 48% yesterday. After falling as much as 12%, it closed down by 5.12% to $24.26.