Amazon (AMZN) Upgrade at Highs Screams of Apples (AAPL) Upgrades at $700

Today, we saw a Morgan Stanley (NYSE:MS) analyst upgrade Amazon.com, Inc. (NASDAQ:AMZN) to overweight with a price target of $325.00. This came as the stock was hovering just underneath its 52 week and all time highs with a P/E north of 100.

This upgrade reminds many traders of upgrades similar, which occurred in Apple Inc. (NASDAQ:AAPL) when it was trading at all time highs of $700.00. Since those upgrades, AAPL has fallen all the way back to its current level of $522.36, -4.64 (-0.88%).

Amazon hit a high of $269.30 today but has already fallen back to $265.96. Upgrades at an all time high on a stock are usually a high risk idea. These stocks are usually priced to perfection an often times institutions will sell into the retail buying. No the aftermath of AAPL before thinking about buying into this upgrade on Amazon.

About Gareth Soloway 168 Articles

Affiliation: InTheMoneyStocks.com

Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial advisor, helping clients get their financial houses in order. While helping others gain financial independence, he continued to study the day trading and swing trading world, developing a unique market philosophy and proprietary methods. Following his work in the financial sector, Gareth went on to trade alongside professional traders. Unable to tolerate the hype of Wall Street any longer and having an amazing ability to profit using his developed techniques, Gareth Soloway decided to partner with his friend and colleague, Nicholas Santiago to form InTheMoneyStocks.com. Chief Market Strategist Gareth Soloway serves as the president and CFO of InTheMoneyStocks.Com.

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