Apple shares fall for a third straight session on Friday, company hires Jason Oberfest, former CEO of Mango Health

According to a report by CNBC, citing people with knowledge of the matter, Apple Incs health team has hired Jason Oberfest, the former Chief Executive of Mango Health.

Apple shares closed lower for a third consecutive trading session on NASDAQ on Friday. It has also been the steepest daily loss since December 4th. The stock went down 3.57% ($6.23) to $168.49, after touching an intraday low at $168.30, or a price level not seen since May 1st ($165.27).

Shares of Apple Inc have retreated 0.44% so far in 2018 compared with a 1.52% drop for the benchmark index, S&P 500 (SPX).

In 2017, Apple’s stock gained 46.11%, thus, it again outperformed the S&P 500, which registered a 19.42% return.

According to the sources, Jason Oberfest is to explore opportunities for Apple in the medication adherence area, or aiding people in taking their medicines on time.

In case people do not take their medications, the health care system in the United States incurs between $100 billion and $289 billion in costs per year.

Mango Health is an app that allows people to keep track of their medications. This app tends to be quite useful for people with chronic disease taking a number of meds.

In November, Yadin Shemmer, Mango Health’s President, was appointed as Chief Executive Officer of the organization.

According to CNN Money, the 32 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $227.50, with a high estimate of $300.00 and a low estimate of $165.00. The median estimate represents a 35.02% upside compared to the closing price of $168.49 on December 7th.

The same media also reported that 20 out of 40 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 17 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

Weekly Pivot Levels

By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:

Central Pivot Point – $173.93
R1 – $179.50
R2 – $190.52
R3 – $196.09
R4 – $201.67

S1 – $162.91
S2 – $157.34
S3 – $146.32
S4 – $135.31