Apple Inc. (AAPL) can't seem to shake its recent weakness.

Shares of the Action Alerts PLUS holding continued their decline on Monday, April 23, closing lower by 0.29% to $165.24. Shares turned negative for the year, registering a hearty 2.36% decline since 2018 began.

Apple stock has declined in value in four of the last five trading sessions. In those five sessions, shares have handed back a total of 7.29%. For the month, Apple stock is down 1.84% after paring gains from earlier in the year.

Source: Bloomberg
Source: Bloomberg

This kind of sustained weakness isn't characteristic of Apple stock, which rallied an impressive 46% throughout 2017, easily topping the broader S&P 500's roughly 20% gain during the same period.

The trouble comes as Apple's suppliers continue to rattle off underwhelming quarterly earnings, sales and near-term forecasts. At the start of this week, key facial recognition chip supplier AMS AG (AMSSY) , which earns an estimated 35% of its revenue from sales to Apple, posted weak sales figures that sent shares lower 18.21% by the market close Monday.

That came shortly after SK Hynix (HXSCL) , the world's second-largest chipmaker, offered similarly muted sales forecasts. The continued disappointment among chipmakers has stoked fear in investors that the global super cycle for semiconductors is coming to a bitter end as smartphone demand peters off.

Apple stock looked to reverse the last week's negative momentum in early trading on Tuesday, April 24. Shares moved higher 0.64% in premarket action.

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