Apple stock is making new session lows right now. The stock is off 1.5%.
Bloomberg reported late this morning that there was a trading error at Rochdale involving unauthorized trades in Apple, according to unnamed sources familiar.
A trader we spoke to speculates that Apple could be trading down as a result of the Rochdale trading error story. One possibility, the trader explained, is that the market may believe Rochdale will be forced to sell off shares of Apple to balance their book.
Also the iPad Mini is out today. Not clear if that is having an impact.
Check out the chart.
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