It has been a long time since Apple (AAPL) made a new 52-week high. In 2014, the stock made new highs on a regular basis, but in early 2015 on February 23rd, the stock closed at $133, and that level hasn’t been touched since. Below is a historical chart for Apple (AAPL) showing streaks of trading days without hitting a new 52-week high. Its current streak of 256 trading days stands out on the chart, but the stock actually had a longer streak without making a new 52-week high in 2013, and it got above 400 trading days during the financial crisis bear market.
After trending lower in the second half of 2015, Apple appears to be forming a base with its intraday low from 8/24/15 acting as its floor. It has tested and held those 8/24 multiple times this year, and gains today have left it less than $1 below its 50-day moving average. For now, if you own Apple, you’re holding it. If the stock can break back above its 50-day and then move above its January highs, you’ll see more investors turn bullish on the name again.