Apple Inc. (AAPL) Aims At 5-Week High

0

Apple Inc. (NASDAQ:AAPL) shares are on track to hit a five-week high after gaining 15 percent since their lowest price in 16 months. The stock finally managed to top $450 per share again today—a level it hasn’t been at since sometime in late March. The Wall Street Journal contributor Tomi Kilgore noted that today’s rally was enough to push up the stock’s 50-day moving average, which is an important indicator many analysts use to measure the company’s short-term stock trend.

Apple Inc. (AAPL) Aims At 5-Week High

Apple Inc. (AAPL)’s 50-Day History

Apple’s 50-day moving average hasn’t moved up since last October. In fact, the last time that average dropped for over three months was back in 2008. However, Apple rallied in a much shorter amount of time then. It fell until January 2009—only about 1 ½ weeks after the stock hit a two-year low around that time.

Joel Greenblatt Owned Hedge Fund On Why Value Investing Isn’t Working Now

Joel GreenblattAcacia Capital was up 12.27% for the second quarter, although it remains in the red for the year because of how difficult the first quarter was. The fund is down 14.25% for the first half of the year. Q2 2020 hedge fund letters, conferences and more Top five holdings Acacia's top five holdings accounted for Read More


What’s Behind Apple’s Rally?

Of course analysts are weighing in on what’s up with Apple Inc. (NASDAQ:AAPL) lately. The stock fell for months for no apparent reason, and now it’s rising again, although it’s doing so gradually. There wasn’t just a single piece of information all investors reacted to. Most likely, it’s a combination of things, like the company’s new capital allocation plan and its bond offering.

Also adjusting its guidance downward so it will be more likely to make guidance wasn’t such a bad thing after all. Investors have been expecting Apple Inc. (NASDAQ:AAPL) to miss its June guidance, so the fact that the company nudged it down a bit was actually somewhat helpful to the stock.