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Shares of Apple Inc. (NASDAQ:AAPL) are falling Monday. Here’s a look at what investors need to know.
What To Know: Warren Buffett’s Berkshire Hathaway reduced its stake in Apple, trimming its holdings by about 15% in the third quarter, according to an SEC filing from the well-regarded firm on Friday. The news sparked some selling pressure in the tech stock.
Berkshire cut its Apple position to approximately 238.2 million shares in the quarter. Despite the continued selling, Apple still remains Berkshire’s largest holding.
In the same period, Berkshire Hathaway bought 17.85 million shares of Google-parent Alphabet, which is worth a little under $5 billion.
Apple also lost a significant patent case regarding blood-oxygen sensors in its Apple Watches. A jury found the company guilty of infringing on medical technology company Masimo Corporation’s patent on blood-oxygen sensors, and ruled that Apple must pay $634 million for patent infringements. The dispute dates back to 2023.
Apple stock was trading down more than 1% at last check, according to Benzinga Pro.
AAPL Analysis: Apple is trading approximately 5.2% above its 50-day moving average of $255.92, indicating a bullish trend in the medium term. The stock is also trading significantly above its 200-day moving average of $225.37, which is about 19.5% higher, further reinforcing the positive momentum. The relative strength index (RSI) stands at 64.22, suggesting that the stock is neither overbought nor oversold, maintaining a neutral signal.
In terms of support and resistance, Apple has established a support level at $266.77, which may provide a cushion against further declines. The immediate resistance level is found at $276.69, just below the 52-week high, indicating a critical area for potential breakout or reversal. If the stock can reclaim this resistance, it may pave the way for new highs.
AAPL Price Action: Apple shares were down 1.14% at $269.31 at the time of publication on Monday. The stock is trading within a 52-week range of $169.21 to $277.32, according to Benzinga Pro.
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Posted In: AAPL
