Apple dropped 2.1% as a tech selloff tested the $210 support zone. A close below that level opens the path to $205. The next catalyst is Thursday's jobless claims print.
Apple shares fell 2.1% in the session, tracking a broad tech selloff that has cut the Nasdaq by more than 3% over two days. The move brought AAPL to $210.50, a level that has acted as support twice in the past six weeks.
Traders said profit-taking was concentrated in AI-exposed names after a cautious read on recent hardware orders from Taiwan. Apple is the largest weighting in that trade and absorbed the bulk of the sell flows, one desk reported.
The $210 support zone coincides with the 50-day moving average, which Apple had held above since mid-March. A close below that level would open a move toward the 200-day line near $205, several technical analysts said. A reversal from $210 on above-average volume would confirm the dip is a buying opportunity rather than a trend shift.
The next concrete marker is Thursday's weekly jobless claims data. A hot print could reinforce the rate-hike bias that is pressuring growth stocks. A soft one would relieve some of the pressure on AAPL's valuation.
Apple reports quarterly earnings in late July. The options market is pricing a 4.5% move post-print, roughly in line with recent quarters. Until then, the stock is at the mercy of macro sentiment and the $210 line.
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