Apple Inc. ($AAPL) is facing challenges after experiencing a significant decline in its stock price, attributed to a momentum double top pattern, with $237 identified as a strong resistance level. Analysts are expressing concerns about the stock's valuation, noting that it is trading at approximately 35 times its projected earnings for the next 12 months, well above its 10-year average of about 15 times. Meanwhile, Alphabet Inc. ($GOOGL) has shown signs of a tough reversal, although it previously overcame a similar situation in April. Hedgeye has removed $GOOGL from its best idea list after a strong performance since going long at $108 in May 2023, with the stock recently trading around $180. Analysts are monitoring both companies closely for further developments.