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Apple stock price slipped to $190

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Apple stock price slipped to $190.60 in midday trade as traders took profits following last week’s rally. Support remains firm at the 50-day moving average. Analysts note that sustained demand in emerging markets could counterbalance short-term volatility. Apple is expected to post earnings of $1.74 per share for the current quarter, representing a year-over-year change of +6.1%. Over the last 30 days, the Zacks Consensus Estimate has changed +2.9%. The other key factor supporting the stock has been valuation expansion . Apple's price-to-earnings ratio, which currently sits at 38.6, has increased by 207% in the past decade. Apple stock price edged down to $191.70 following mixed retail sales data. Despite short-term softness, fundamentals remain strong with a $3.02 EPS forecast for Q2, supporting medium-term bullish outlooks.