Apple's Record After 'Death Cross'
Shares of Apple are down nearly 24 percent from their record high of $700 back in September, and the stock is now trading in the feared "death cross."
That's when the 50-day moving average drops below the 200-day moving average and is considered a strong bearish sign. Apple reached that point on Friday. (Read more:Apple Passes 'Death Cross')
Apple's record after the "death cross" certainly isn't cause for optimism.
Since 2000, there have been six instances when Apple's passed through the "death cross." In five of those instances, the stock was down more than 5 percent one month after the crossing, with an average loss of 10 percent.
The reversal of fortune has been jarring for a company which, just a few short months ago, had a high-flying stock that made it he world's most valuable company.
In 9 of the last 11 weeks, Apple closed in negative territory, losing over $150 billion in market cap value.
Apple's 'Death Cross' History