Apple Looks Most Oversold in Years After $200 Billion Selloff
- Shares have dramatically underperformed the Nasdaq 100 in 2024
- Concerns over China iPhone sales have recently pressured stock
Apple Inc. shares are down 14% from a recent peak and have dropped 12% this year, compared with a gain of 7.42% for the Nasdaq 100 Index.
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Apple Inc. has struggled in 2024, and the recent weakness has the stock looking like it is the most oversold in years, analysts said.
Shares of the iPhone maker are down 14% from a recent peak and have dropped 12% this year, compared with a gain of 7.42% for the Nasdaq 100 Index. Apple shares have been pressured by concerns over iPhone sales in China and a fine from the European Union.