Studies in Contrary Indicators: Apple Edition
It’s hard to believe that just nine months ago the hottest question in the markets was “what’s wrong with Apple.”
Shares of Apple hit $364.90 in February 2011, and then began a churn sideways and downward that lasted for months. By June, shares had fallen all the way down to $315.
The reaction was almost a study in journalism as a contrary indicator.
“Here’s What’s Wrong With Apple’s Stock,” a Business Insider article by Henry Blodget declared.
“Apple Stock Plunges as Investors ‘Think Different,’” Daily Tech declared.
And that was the turning point, the bells ringing at the bottom of the market for Apple.