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At first, the European Union's $14.5 billion tax bill looked bad for Apple stock.
When the news broke early Tuesday morning, AAPL stock fell as much as 2% in pre-market trading.
But soon after the market opened Tuesday, shares of Apple Inc. (Nasdaq: AAPL) didn't plummet. Wall Street decided the Apple tax bill news wasn't so bad, after all.
"The stock price dropped a little [Tuesday], but it gained it all back," said Money Morning Technical Trading Specialist D.R. Barton, Jr., in a Thursday appearance on the FOX Business program "Varney & Co."
In the video below, Barton gives investors the two most important takeaways from the Apple-EU tax debacle: why the Apple stock price bounced back so quickly, and the real reason the European Union is targeting Apple and other U.S. tech giants.
Follow me on Twitter @DavidGZeiler or like Money Morning on Facebook.
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