Subscribe to receive this FREE daily commentary directly in your email
[widget id=”wordads_sidebar_widget-52″]
The Next Apple iPhone Super Cycle Is Coming, Plus A Look At Amazon
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF AAPL, SWKS, GOOGL
[widget id=”text-28″]
[widget id=”text-19″]
The S&P 500 broke out yet again today, rising to 2,914. That takes the index above the upper end of the trading channel. That likely means we see an acceleration of the current move higher over the coming days and weeks and may result in the S&P 500 going quickly to 3,000. Things get interesting once we get to 3,000. But let’s get there first before we start to worry about it. The longer-term chart I show below brings together some of the longer-term resistance levels that converge.Â
[widget id=”wordads_sidebar_widget-50″]
Biotech
Biotechs continue to stay hot today, and I go through that sector in some detail in the member commentary today. I also discussed the potential for the Apple Super Cycle that no one is expecting, and a couple of other more minor topics. Big Biotech Breakout, Plus iPhone Super Cycle Maybe This Year!
The IBB Biotech ETF cleared resistance at $120 today, and that is a big win for the ETF. It is the first time it has been this high since 2015. I think this sends the ETF back to the highs around $133, about 10 percent higher.
iPhone Cycle
There was a great article in Digitimes yesterday, which noted that iPhone shipments are expected to reach 70-75 million units by the end of the year. That would be the best performance since the iPhone 6 début in 2015. If that is the case, it would be some unexpected and pleasant news for many of the Apple suppliers, like Skyworks, Cirrus Logic, Qorvo, Broadcom and the likes. The stocks are not trading like a big iPhone super cycle is on the way.
It has been the opposite for a stock like Skyworks trading near its lows.
Qorvo is another stock that has gone nowhere over the past year.
Broadcom
We could get a sneak peek of the cycle when Broadcom reports results on September 6, for fiscal third-quarter. The quarter for Broadcom ends on July 30, so investors get an extra month to see how demand for the Apple cycle may be building versus the traditional quarter end companies that finished on June 30. Pay attention to the results and, of course, the guidance.
Apple
One stock that is doing very well is Apple, with the stock hovering around $223. I had laid out my bull case for Apple back at the start of May. Getting Long Apple
Amazon
Amazon continues to climb, and today it increased above the upper channel of the wedge. While it is undoubtedly a good thing, we will now need to reassess where the stock goes from here. It was just a few weeks ago, I had targeted 2,020. The stock got an added boost when Morgan Stanley put a $2,500 price target.
Unlock Deeper Insights with Exclusive Member-Only Video Content on The Market Chronicles YouTube Channel – Just $34.99/Month
Alphabet
Alphabet is another stock that has broken out rising above its downtrend, and Morgan Stanley put a $1515 price target on the stock. Again, I need to reevaluate the stock. But there is resistance now around $1290 first to get through.
Yields
Treasury yields managed to find a bit of a bounce presently at support, and I think it may just be a matter of time until that yield falls below the trend line.
That’s going to be all.
Mike
Member Services
Michael Kramer is the Founder of Mott Capital and the creator of Reading the Markets.
I started learning to invest when I was 16 years old. At 40, I have pieced together a long career on Wall Street, working as an analyst, and a domestic and international equity trader at two multi-billion dollar equity firms.
I started Mott Capital in 2014 to follow a passion and dream of being in control of my career path.
The idea behind Reading the Markets was to help both individual and institutional investors benefit from my experience in the business and my unique approach to dissecting stocks and the markets, which helped me become a great trader.
Reading the Markets is a combination of technical, fundamental, a macro market analysis, trying to piece together the clues the market is sending in its future direction.
Reading the Markets is unique, in that the video does not only serve as a means to deliver the content but to interact, making it a personal learning experience, while also showing the user how I go about finding my research and how you can use the process to do your work.
I want this product not only to be profitable and enjoyable but also affordable.
Here are some of the recent videos:
Big Biotech Breakout, Plus iPhone Super Cycle Maybe This Year!
Biotech And Semis Breaking Out?
FAANG’s Not Out Of The Woods But Getting Better
Verizon Nears Multiyear Break Out As 5G Data Speeds Near
The Dollar May Soon Wreak Havoc On Oil And Gold
Inflation Runs Rampant Only In Fantasyland And That Is Good For Stocks
Tesla May Be Going Higher Regardless Of The Bid
Why The S&P 500 May Rise To 3,500
Netflix Is Not Broken, Plus S&P May Rise To 3,000 Sooner Than You Think
[widget id=”text-23″]
Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future.
#biotech #apple #biotech #alphabet #amazon #skyworks #broadcom
Subscribe to receive this FREE daily commentary directly in your email
Charts used with the permission of Bloomberg Finance L.P. This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.
Comments are closed.