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Apple shares pop, on pace to break 8-day slide

Fred Imbert
Updated

Apple (NASDAQ: AAPL)'s stock gained nearly 2 percent Tuesday, a day after tying its second-longest losing streak ever.

The stock was the second-biggest advancer within the Dow Jones industrial average (Dow Jones Global Indexes: .DJI) Tuesday as the blue-chip index halved sharp losses in afternoon trading.

Apple, once considered a darling by investors and analysts on Wall Street, fell for an eight-straight session Monday, something it hadn't done since 1998.

That said, analysts at Bespoke said in a note Monday the stock had posted a median gain of about 8 percent in the month following an eight-day slide.

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"Apple bulls would certainly love a bounce like that over the next month," Bespoke said.

Despite Tuesday's gain, Apple shares remained more than 9.5 percent lower for the year, and 26 percent lower in the past 12 months.

AAPL in the past year

Source: FactSet



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