Apple’s parabolic repricing continues.
The stock was up over $21 yesterday ($45 since Friday’s close) on the back of a Morgan Stanley report, which included a price target of $960. The market is starting to reprice the stock to a valuation and multilple that we have long thought it deserves.
Trading this beast versus a buy-and-hold strategy has cost us, but, hey it’s all about risk management, no?
Apple’s market cap is now larger than the 2011 GDP of Poland, Belgium, Taiwan and could surpass Saudi Arabia with another $5 move today. Absolutely stunning!
The sheer size of Apple’s market cap now has asset allocation ramifications and may be one reason why volume has been so low in the rest of the market is so slow. The dollar volume in Apple (AAPL) yesterday was more than 10x that of JP Morgan.
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!