What The Weak Leaders May Tell US: IBM And Apple Struggle
Nicholas Santiago | Feb 13, 2013 12:46AM ET
International Business Machines Corp. (IBM) reported earnings on January 22nd, 2013. The stock shot higher, Wall Street cheered. However, the cheering was short lived. The move up on earnings was the high point on the chart in 2013. Since that jump higher, the stock has consistently fallen lower. When the largest Dow Jones Industrial component cannot catch a bid, could it be a warning side of future market weakness?
Apple Inc. (AAPL) has had the same problem. Even with the bounce over the last week, the stock again is headed lower, trading at $471.84, -8.09 (-1.69%). This is the second leading market cap in the world and the biggest component on the Nasdaq 100 PowerShares QQQ Trust, Series 1 (ETF) (QQQ).
Caution should be used as long as the biggest, most powerful companies in the world are under performing. Stay tuned for more market analysis.
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