Apple Is in the 'Penalty Box' But Should Resume Uptrend at This Key Level, Oppenheimer Says – NBC Connecticut
What's not on top? Its share price. The stock has fallen 9% in the past month, lagging the tech sector and broader S&P 500. "It is in the penalty box here, near term," Oppenheimer head of technical analysis Ari Wald told CNBC's "Trading Nation" on Monday. He said the stock may have been unfairly punished due to a global semiconductor shortage that could squeeze margins. However, he said the company may be better positioned to weather higher costs than its competitors, coming out of the shortage in a stronger position than others. "We would be looking for the stock to stabilize at around $120 ...