Shares of Apple Inc. AAPL, -4.17% sank 3.4% in afternoon trading Monday, putting them on track for the lowest close in more than three months, as large-capitalization technology stocks continue to pull back despite the rally in the broader stock market. Apple was leading just the five of 30 Dow Jones Industrial Average DJIA, +0.97% components losing ground Monday, as the Dow soared 488 points, or 1.6%. Apple’s stock, which is headed for the lowest close since Nov. 27, has now lost 18.1% since the Jan. 26 record close of $143.16. A close below $114.53 would put the stock in a bear market, which many define as a decline of 20% or more from a significant high. Separately, the 200-day moving average, which many chart watchers use as a dividing line between longer-term uptrends and downtrends, currently extends to $114.10; the last close below the 200-day was April 3, 2020. Apple’s stock has shed 5.7% over the past three months, while the technology-heavy Nasdaq 100 NDX, -2.92% has given up 1.7% and the Dow has rallied 6.0%.
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