Felix Wang’s first big call as Hedgeye’s Global Tech analyst was to short Apple (AAPL) on January 17, citing slowing international demand.
Shares of Apple have been sliding ever since and slid further this morning after Apple reported a 24% drop in iPhone sales in China.
“The problem with Apple now is that every single day it signals a lower low and a lower high within a bearish Trend,” Hedgeye CEO Keith McCullough explains in this clip from The Macro Show. “An Old Wall static moving monkey person is just looking at the 200-day moving average. Completely useless.”
Click play to watch the full clip.
