Shares of Apple Inc. (NASDAQ:AAPL) could make a recovery on Monday if Market Studies CEO Tom DeMark is right. He said in recent history, the company’s stock fell for no more than three days before making a recovery. Friday marked the third day of straight falling for Apple shares.
Apple Inc. (NASDAQ:AAPL) shares could make a bit of a recovery on Monday, according to Tom DeMark, CEO of Market Studies. DeMark told CNBC’s Fast Money on Friday that “the most number of consecutive down days has been three.” He said that Friday marked the third day of declines for the stock, and he looked back into December when there two other strings of three-day drops followed by a recovery.
There are a few news items that could help push shares of Apple Inc. (NASDAQ:AAPL) higher on Monday. In particular, this is the first time Apple Inc. (NASDAQ:AAPL) has become the biggest mobile phone retailer in the U.S. As of the fourth quarter of 2012, the tech giant also held the lion’s share of the smartphone market in the U.S. as well. Samsung Electronics Co., Ltd. (LON:BC94) has been the leading mobile phone retailer in the U.S. since 2008.
The news about Apple Inc. (NASDAQ:AAPL) outpacing Samsung Electronics Co., Ltd. (LON:BC94) comes at an important time for the company because investors have been concerned about whether Apple Inc. (NASDAQ:AAPL) is keeping up with its competitors. Today shares of Apple fell below $450 per share again, and the stock just hasn’t been able to recover since its less-than stellar earnings report a little over a week ago.
Apple Inc. (NASDAQ:AAPL) shares have been falling steadily since their all-time high back in September, so now investors want to know when things will begin to return to “normal” once again for the stock. Can the company ever get back to where it was less than six months ago?