When Apple was last this far from its highs, it had a massive surge over the next year.
In May 2016, the stock had fallen 33 percent from 52-week highs. Over the following 12 months, it rallied 75 percent.
Apple begins this week exactly as far from its record peak hit in October: 33 percent.
Craig Johnson, chief market technician at Piper Jaffray, said the recent slump in Apple echoes that move in 2016.
“Look at the correction that we’ve had — over 30 percent peak to trough — we’ve seen this before,” Johnson said…