The Apple Worldwide Developers Conference (WWDC) has so far lacked meaningful AI-related announcements, with only vague comments that AI features are “coming” for developers. In response, Apple's stock is trading lower, down $3.25 (-1.61%) at $200.70.

From a technical perspective, today’s decline pushes the price below both the 100- and 200-hour moving averages, which sit at $202.02 and $204.10, respectively. The price has also slipped beneath the 38.2% retracement level of the move from the late 2024 all-time high to the 2025 low at $169.21. That retracement level, located at $203.93, overlaps closely with the MAs, increasing the importance of this technical resistance zone.

As long as the price remains below these levels, the short-term technical bias favors the sellers. A move back above the cluster of resistance would be needed to tilt momentum back in favor of the bulls.