Chart of the Day: Can Apple Really Be the Best of the Magnificent Seven?
The stock is flirting again with all-time highs during a period when the stock typically performs its best.
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During this crazy market year some of the biggest stocks have had their moment of glory. No doubt the entire Magnificent Seven group makes some big moves when news hits or earnings are released. Some have had very large moves down and then up, like Alphabet/Google (GOOGL) , while names such as Tesla (TSLA) and Amazon (AMZN) are a bit puzzling with their "starts and fits."
Apple (AAPL) is the most consistent name in this group, and if that continues to be the case it could propel the entire market higher.
Does Apple have enough influence over the market to bring other stocks with it? Of course it does, though it is not the most valuable company in the world anymore. That title (for now) goes to Nvidia (NVDA) , but Apple is not far behind. Also, the holiday period is usually quite kind to the big iPhone maker.
The Apple chart is bullish and constructive. With a long series of higher highs, higher lows there is no question the trend is bullish.
Candles are blue, which signify strongly bullish on the GoNoGo composite of indicators. Stochastics (momentum) pulled down but is back to moving higher again, while money flow is bullish and moving average convergence divergence (MACD) remains on a buy signal.
Without much fanfare the stock continues to move higher. We can see it reaching $300 by early 2026.
We like Apple in TheStreet Pro Portfolio and rate it a Two, or "stockpile on pullbacks."
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At the time of publication, TheStreet Pro Portfolio was long AAPL, GOOGL, AMZN and NVDA.
