The key story of today is that Apple (AAPL) has turned positive after a couple of negative reports. First, Citi cut their price target on Apple to $200 from $240 due to China concerns. The firm even suggested a bear case where the stock could reach the unthought of level of $125. Second, Qualcomm (QCOM) reportedly won a preliminary iPhone ban in China due to Apple violating patents. Unfortunately, the ban is only for older iPhones with indications that Apple is still selling the newer versions. Ultimately, Apple will need to pay royalties to Qualcomm on iPhones so these moves are just postering. The good news for Apple shareholders is that the stock hit a low of $163 on the day and has now rebounded back into the green at $169. A positive close could signal a short-term bottom. Disclosure: Long AAPL, QCOM