Apple Suffers its Worst Correction in Two Years, Lowest Since January

Apple (AAPL) stock suffers its deepest correction in two years. The stock slid 2.1% Thursday to close at the lowest price since January 27th. Volume was 67.5 million shares, nearly 20% above the average according to FactSet. The technology giant's stock has lost 7% this month, and 15% since it closed at its February 23rd record of $133 dollars. The stock has now suffered the deepest price correction--a decline of at least 10% from a significant high, since the stock climbed out of its 2012-2013 bear market in August 2013. An analyst with Marketwatch points out that Apple's stock price action has produced a 'death cross', in which the 50 day moving average crosses below the 200 day moving average. The last time one appeared the stock fell another 27% in 4 months.