Stocks were flat this morning after another day of record highs. The Nasdaq and the S&P 500 edged higher yesterday to close at record highs and are both on track to continue their months-long winning streaks. The Dow, however, has suffered monthly losses and is on track to break its 4 month winning streak.
Growth stocks have been outperforming lately as investors place their bets for the second half of the year.
“We see the situation where growth may continue to outperform Value in the weeks ahead,” Said MKM Partners chief market technician JC O’Hara.
Today we’ll focus on one of America’s greatest growth stories and highest quality stocks. We’ve covered the stock before, way back in September of last year and the stock has risen more than 25% since our call went out. The next leg up for this one could come in the near future, so read on to find out why you might want to consider adding shares.
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Apple (APPL) shares typically climb ahead of third quarter earnings with the biggest average monthly returns in July and August. The improvement in investor sentiment is partly due to two major annual events for Apple: the upcoming launch of the new iPhone in September and the holiday shopping season.
Adding to the buzz this year is rising speculation around Apple’s own self-driving electric car. It’s known that Apple has held talks with Nissan, Hyundai and other automakers. On June 10th, Bloomberg reported that Apple hired Ulrich Kranz, a former BMW executive, to work on the Apple car.
The company is set to report Q3 earnings on July 29th. While there was no specific guidance provided for the June quarter, investor sentiment may continue to rise ahead of the call if investors continue to snap up shares of big tech favorites like this one.
The consensus among 44 analysts covering Apple stock is to Buy. The stock has 33 Buy ratings, 9 Hold ratings and 2 Sell ratings.
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Before you consider buying Apple, you'll want to see this.
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And it's not Apple.
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Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
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This technology already exists, and it’s rolling out to manufacturers at this moment. The one company behind it is on the cusp of an enormous surge… [Click here for the full story…]