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Feb. 24, 2020, 10:07 a.m. EST

Apple's stock falls below its 50-day moving average for first time in nearly 6 months

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By Tomi Kilgore

Shares of Apple Inc. /zigman2/quotes/202934861/composite AAPL -0.68% fell 3.5% in morning trading Monday, amid a broad stock-market selloff on the back of fears over the global spread of COVID-19. The selloff has pulled the stock below the widely followed 50-day moving average for the first time in nearly six months. The stock was trading at $302.25, while the 50-day moving average, which many chart watchers use to track the short-term trend, currently extends to $305.82, according to FactSet. The last time Apple's stock traded below the 50-day average intraday was Sept. 3, 2019, while the last time the stock closed below the 50-day average was Aug. 23. The stock is still well above the 200-day moving average at $240.08, which many view as a dividing line between longer-term uptrends and downtrends. Meanwhile, the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +2.17% fell 769 points, or 2.7%, to move below its 50-day average at 28,810 but above the 200-day moving average at 27,225.

/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 316.73
-2.16 -0.68%
Volume: 31.38M
May 26, 2020 4:00p
P/E Ratio
24.83
Dividend Yield
1.04%
Market Cap
$1372.82 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
24,995.11
+529.95 +2.17%
Volume: 426.29M
May 26, 2020 5:20p
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