Apple (AAPL) is nearing a proper buy point for the first time in about eight months. While it might be tempting to buy Apple stock at this level since it's such a widely followed tech stock, savvy investors should carefully consider the chart pattern's flaws — and Apple earnings expectations for 2019. X After selling off as much as 39% during the stock market correction, Apple stock has finally put in enough work to form the right side of a base. It's a cup-with-handle chart pattern with a 197.79 buy point, and shares are just 1% below that level. Shares ended Wednesday trading up 0.7% to close at 195.35. Apple stock now trades above its 200-day line, which is positive. But the base has flaws. First, our research shows that deep bases, like the one Apple has formed, are usually more likely to fail. Though Apple has formed a handle, shares would still be about 15% below its prior high of 233.47 reached last October. That could indicate some overhead resistance for the stock. … [Read more...] about Apple Stock Finally Nears New Buy Zone, But Apple Bulls Should Read This First
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As the Nasdaq finally breaks above its sideways trend, FANG stocks Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google parent Alphabet (GOOGL) are strengthening. Facebook and Amazon are in buy range, while Netflix is slightly extended and Alphabet is nearing a buy point. Tech giant Apple (AAPL) is also showing compelling chart action. X Top Tech Stocks Netflix boasts the highest IBD Composite Rating of these top tech stocks, with a best-possible 99. Fellow FANG stocks Facebook and Amazon each earn a 98, while Google parent Alphabet's has improved to a 91. Apple still lags with an 88. Winning stocks typically have a high Composite Rating, which ranks stocks based on a variety of fundamental and technical factors, when they launch big runs. Facebook Stock Facebook cleared a 188.42 handle buy point on Thursday, and was within the 5% buy range as it extended gains Friday. It's now just 1% below its prior high of 195.42 set on Feb. 1. Facebook stock sold off as much as 24% … [Read more...] about FANG Stocks Facebook, Amazon, Netflix, Google Strengthen; Which Two Are Buys Now?
The stock market rebounded in early trade Wednesday amid continued political turmoil in Italy. Software stocks were strong early Wednesday before fading — after Salesforce.com (CRM) reported strong earnings results — and several leaders were back in buy range. Meanwhile, ADP private payrolls rose 178,000 compared to the Econoday 187,000 consensus estimate. The monthly jobs report is due out Friday. (For updates on this story and other market coverage, visit stock news today) X All three major indexes — the Dow Jones industrial average, the S&P 500 and the tech-heavy Nasdaq — moved up 0.6% each. Among the Dow stocks, Apple (AAPL) was downgraded at Maxim due to some skepticism on the company's services strategy. Meanwhile, market research firm IDC expects the global smartphone market to contract again this year. Shares fell just 0.4%, as they trade at the top of the 5% buy range from a 179.04 double-bottom entry, according to MarketSmith chart … [Read more...] about Stock Market Rebounds; Top Software Stocks Move Back Into Buy Range
Apple (AAPL) reportedly is planning to use organic light-emitting diode displays for all of its new iPhones next year, providing a boost to Universal Display (OLED). X Universal Display shares soared nearly 11%, near 110.50, in morning trading on the stock market today. The Ewing, N.J.-based company supplies critical technology and materials used to make OLED displays. Apple currently gets its OLED screens from Samsung, a major customer of Universal Display. Wall Street sees more manufacturers entering the OLED display market soon. South Korea's ETNews reported Monday that Apple has decided to use OLED displays for all of its new iPhones in 2019. Apple used only liquid crystal displays for its handsets until late last year when it debuted the iPhone X, its first OLED-display smartphone. While the change is good news for OLED specialist Universal Display, it could spell trouble for LCD screen makers like Japan Display. That company has been the principal supplier of LCD … [Read more...] about Universal Display Stock Jumps On Apple iPhone Report
With the Nasdaq composite, S&P 500 index and Dow Jones industrial average seemingly rangebound, Apple stock leads five top tech companies that are trading at or near buy points. FANG stocks Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google parent Alphabet (GOOGL) join the list along with Apple (AAPL). X FANG Stocks Plus Apple Stand Out In Nasdaq Grouping the original FANG stocks and Apple together creates what some on Wall Street call the FANG+ stocks or FAANG names, which are five of the largest tech stocks in the Nasdaq. Netflix has been on a tear in 2018, and leads the group with a highest-possible IBD Composite Rating of 99. Amazon follows close behind with a 98, while Facebook earns a 96 despite its big sell-off earlier this year. Apple and Alphabet round out the group with an 88 and 83, respectively. Top stocks tend to have high Composite Ratings as they launch big runs. Netflix, Apple and Amazon are all members of IBD's Leaderboard. IBD Newsletters Get exclusive IBD … [Read more...] about Apple Stock, FANGs Facebook, Amazon, Netflix, Google Are In Or Near Buy Zones