GO
Loading...

Apple Defies 'Death Cross,' Rebounds From Nine-Month Low

Javier E. David | Special to CNBC.com
Thursday, 6 Dec 2012 | 11:34 AM ET

Investors breathed new life into Apple on Thursday after sending its shares to its deepest trough in nine months—flirting with levels that chartists regard as a major sell signal.

In the midst of a brutal sell-off that dragged Apple's stock back into bear territory on Wednesday, a combination of bargain hunting and a rally in major stock benchmarks helped Apple shares find buyers. With some analysts warning that the sell off was getting overdone, Apple's stock bounced to a session high above $548.

Apple briefly closed in on a technical area known as the "death cross" – where its 50-day moving average falls below the 200 day moving average. Technicians often take that movement as a cue to hit the sell button.

The rebound also comes as CEO Tim Cook announced that Applewas poised to produce one line of its Mac lines domestically. Itwas a rare bit of good news for a company that has been battered bythe market's doubts about its ability to keep innovating whilebeating its competition. (Read more: One Mac to Be Made in USA: Tim Cook.)

  Price   Change %Change
AAPL
---
GOOGL
---
  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.

Technology

  • Facebook's latest moves in mobile have shown how messaging is shifting from SMS texts to full-blown content sharing.

  • Is Google fiber coming to New York? CNBC's Jon Fortt and Peter Kafka, Re/Code senior editor, discuss the possible entrance of Google fiber into the New York marketplace and what hurdles the tech giant will have to clear.

  • Makeshift co-founder Nick Marsh

    Start-ups often find it tough to protect their ideas, especially when faced with so-called "clone factories." But most are unfazed.