Apple continues the break out move post the recent news. So far the timing has been perfect, launch the car news right on Tesla highs, when all passive funds went long Tesla on 695.
In late November we highlighted Morgan Stanley’s great call on Apple explaining their strong Apple logic.
” “We are incrementally bullish on 5G infrastructure and smartphone suppliers and raise AAPL bull case…Survey flags nearly 40% upside to consensus FY21 AAPL estimates, lifting our bull case valuation to $191”.
When MS is out with their “US and China AlphaWise consumer survey” you listen (chart 2).
We followed up on that Apple logic from a technical point, writing on Dec 7;
“…Apple could get interesting should it start breaking above the negative trend line that has been in place since Sep 1…Note how Apple volatility has come off, offering interesting long premium plays now (opposed to early Sep).”
The stock is squeezing higher by another 4% today. It would be a shame if we did not print ATHs before year end, just to prove who remains the king of stocks.