Bloomberg Market Wrap 11/12: Apple and Earnings Forecast Revisions

The video discusses the recent market performance of Apple, highlighting a significant drop in its stock price due to reduced holiday quarter outlook and weak supplier forecasts. Technical analysis suggests potential further declines. The tech sector, including ETFs like XLK and XLC, is experiencing weakness, with concerns over unsustainable profits, rising rates, and trade tensions. The S&P 500 earnings report shows a high EPS beat rate but declining revenue growth, with many companies lowering guidance, indicating a cautious outlook for future quarters.

What is the significance of the 50-day and 200-day moving averages in the context of Apple's stock?

What was the overall sentiment regarding Apple's stock performance and its impact on the market?