Apple (AAPL) Hits Fresh 52-Week Lows
(Nasdaq: AAPL) hit fresh 52-week lows on Wednesday morning, breaching the previous low at $411. Shares are lower by over 4 percent, a moved tied to a combination of negative reports. Of note, DigiTimes is reporting that Apple Q2 iPad Mini shipments may fall 20%-30%, citing sources. Traders are also discussing weak guidance from supplier Cirrus Logic Inc. (Nasdaq: CRUS). From a technical perceptive, a test of recent lows does not come as a surprise, and traders will be watching price action very closely.