Chart of the Day

Apple inc. (AAPL, NYSE)

Apple’s shares had been on pause since its peak in late August as the market “rotated” into smaller stocks, a broadening … whatever you want to call it. Yet, the biggest, strongest and best capitalized stocks could still be our best bet.… starting with Apple.

The company reports earnings on January 27th and I think it’ll post strong numbers, services could scorch estimate and the new chips will be a boon – In fact, Apple’s new M1 chip could have a bigger impact on the entire tech sector than most people understand. Email me if you would like to read a fascinating article on this.

Another reason we think Apple’s earnings could be strong is because they announced and released its AirPods Max for pre-orders in early December, priced at $549. The new Max line began landing in consumer hands beginning Dec. 15, and initial signs suggest the product is flying off the virtual shelf.

A unique service we use which measures online purchase Intent, shows an appetite for the new Pods. While purchase intent mentions on social media is currently lower than the previous AirPods Pro release date, the volume noted is still extremely significant for Apple. Why?

  • These headphones cost more than double the previous iteration.
  • Sentiment actually improved 3 points through the release, suggesting consumers are excited for the new product.

Reports suggest the new model is already backordered in all colors.

Apple had a nice run from $119 when it broke out of its symmetrical triangle up to $137. After a relatively orderly pullback to $130, APPL looks like it might be ready to test its highs again.

 

 

 

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