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Apple Down 10% In 9 Days: Is It Time For Caution?

By Plan B Economics:

Over the past nine days (ending April 20th, 2012) Apple (AAPL) is down almost 10%. With an average nine-day return of 1.10%, since 1984, this has many investors wondering if this is a buying opportunity or a sign of worse to come.

Let's look at some of the historical data:

On any given trading day since 1984, Apple's stock price has experienced a similar or worse nine-day drop only 8.57% of the time. Clearly, this type of drop is infrequent and potentially significant.

The last three times Apple stock dropped more than 9.9% over nine days were August 8, 2011, July 5, 2010 and many occasions during the financial crash from 2008-2009. The average 30 day return after these drops was -3.99%. However, if one only looks at the 2011 and 2010 corrections the average 30 day post-correction rise was nearly 16%. Investors that bought the last two 9.9%+ nine-day


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