Shares of Apple Inc. pared earlier losses to be down 0.5% in morning trade Monday--they were down as much as 1.4% earlier in the session--but were still on track to suffer the longest losing streak in 18 years. The stock is headed for an eighth-straight loss, and 11th loss in 12 sessions, since it closed at a four-month high of $112.10 on April 14. An eighth-straight loss would be the longest such stretch since the eight-day losing streak ending July 28, 1998. If the stock turns higher by the end of the day, the seven-day loss streak would be the longest since Feb. 21, 2013. The shares have tumbled 13% since it last gained ground on April 20--it ticked up 0.2% that day--including a 6.3% plunge on April 27 after Apple reported disappointing quarterly results. Over the past 11 sessions, the stock has tumbled 17%, while the Dow Jones Industrial Average has slipped 0.5%.
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