Boiling the Market Down to One Stock

Apple made a higher low in October, making it one of the stronger BigTech stocks along with Amazon. Both Google and Microsoft made new lows in October.

Last week or two, Apple said they would shelve plans to increase iPhone 14 production. Now they're reportedly cutting their original production target for the iPhone Plus with component assembly factories in China cutting production 70 percent and 90 percent. It's behind a paywall though, that's the only snip I can see.

The news is great for traders. Assuming this isn't fluff news that can be ignored, it'll give a meaningful read of current market sentiment. No matter how consequential news may be, it's the market reaction that tells the story. A bullish market will ignore the bad news and grind higher. A bearish market will ignore good news and grind lower. If the rally has legs, the Apple news will only be an intraday dent in trading.