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Is Apple Inc. The Death Of SIRI?

|Includes:Apple Inc. (AAPL), SIRI

When looking at the chart of Sirius XM Holdings Inc. (NASDAQ:SIRI), it is not hard to predict who will win this war of becoming the preferred software and music service in everyone's cars. Yes, you guessed right; without a doubt, it will be Apple Inc. (NASDAQ:AAPL). After all, the iPhone is one of the most popular devices among smartphone users. Also, most high and medium priced vehicles come with adapters specially designed for the iPhone already. Did I forget to mention that Apple Inc. (NASDAQ:AAPL) has a free streaming music service? Why will users continue to pay a monthly fee for a service that will be free for many with the CarPlay integration?

As a technical trader I don't really care about the news. Instead, I utilize the stock technicians crystal ball (Charts) to see the future ahead of everyone else. Take a look at the chart below. It is the weekly chart for Sirius XM Holdings Inc. (NASDAQ:SIRI). Note how it made a high of $4.18 during 2013, putting a classic topping pattern in place. Since then, the stock has been drifting lower. It is now consolidating in a bearish manner, and within the next couple of weeks I expect it to break down. Could more news of CarPlay be the catalyst for the decline? I'm not sure, all I know is that the chart is giving us a peek into the future of Sirius XM Holdings Inc. (NASDAQ:SIRI) and it does not look bright. The levels to watch as it falls will be; $2.72 and $2.37 At those levels SIRI might get a few resuscitation attempts, however, once those levels break, it will go a lot lower.

Kiliam Lopez

Elite Round Table

InTheMoneyStocks.com

Stocks: AAPL, SIRI