Apple Tests Key Technical Level in Worst Start Since 2008

Apple Inc.’s stock has had a rough start to the year and is now flirting with a key level that could signal more downside ahead if breached.

The stock has slumped 11% in 2025 through Thursday’s close, making it by far the worst performer in the Magnificent Seven group. It has also significantly underperformed the S&P 500, which has gained about 4% to touch a fresh record high to start the year. Apple’s performance is the worst start of the year for the iPhone maker since 2008, according to data compiled by Bloomberg.

The decline has brought shares within a few dollars of the 200-day moving average, a technical level that can be seen as a long-term support and is one that many traders watch.

The level is “always a good reference point of trend,” said Todd Sohn, an ETF and technical strategist at Strategas Securities LLC. “When you get names starting to flirt with it or start to break below it, you kind of lose confidence that the uptrend of that name is still intact.”

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