Apple stock set to snap longest monthly win streak in 9 years

Shares of Apple Inc.
AAPL,
+1.92%
rose 0.3% in premarket trading, but that’s no where near enough to keep their monthly winning streak alive. The technology behemoth’s stock has rallied 6.3% over the past two weeks, but had still shed 4.5% in August through Wednesday amid concerns over declining smartphone demand, which puts it on track to snap a seven-month win streak. That was the longest monthly win streak since the seven-month stretch that ended August 2014. If the stock happens to close up 4.7% on Thursday, above the July 31 record close of $196.45, an eight-month win streak would be the longest since the 10-month win streak that ended December 2009. Apple’s stock is still up 44.4% year to date through Wednesday, while the technology-heavy Nasdaq 100
NDX,
+0.56%
has climbed 41.3% and the Dow Jones Industrial Average
DJIA,
+0.11%
has gained 5.3%.