Apple Is Gut-Check Test for Traders Who Absorbed Every Blow
- Reflation strategies questioned as Apple warning shows fallout
- ‘New can of worms’ for bullish traders, says AxiCorp.’s Innes
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Apple Inc., the embodiment of market buoyancy for the last nine months, is testing how deep the resilience actually runs.
The world’s tech giant warned Monday it may fail to meet this quarter’s sales guidance thanks to slower production and weaker demand due to the disease known as COVID-19. U.S. equities fell after Wall Street opened Tuesday to growing anxiety over the virus’s economic impact.