Where Do Apple, Facebook, Netflix, Skyworks, Qorvo, and Gilead Go?

Where Do Apple, Facebook, Netflix, Skyworks, Qorvo, and Gilead Go?

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Where Do Apple, Facebook, Netflix, Skyworks, Qorvo, and Gilead Go?

Michael Kramer and the clients of Mott Capital own AAPL, NFLX, SWKS, and CELG
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Stocks popped today, with the  S&P 500 rose on Wednesday by nearly 40 basis points, to 2,887. That chart shows clearly the break out from the previous week’s downtrend. It bounced where it should at 2,872. I think the S&P 500 should attempt to reach 2,930 over the next few days.

SP500

Technology

Technology had a solid bounce as well, with the XLK ETF jumping by 85 bps. Again, this ETF continue its trend higher as well. I think we can to advance higher, one towards in $80, for the technology ETF. That is a rise of about 7.5 percent from its current price around $74.50.

technology

Apple

Apple bounced right where it should have at roughly $217, and moved higher today by over 2.5 percent. I think Apple makes a move to around $230 in the days after the iPhone event tomorrow.

apple

Facebook

Even Facebook showed encouraging signs, with the stock bouncing off support around $159.50. But now shares need to work higher, above this current resistance level around $166. If can it, it runs to $173; if it can’t, it goes back to $159.50. It is that simple at this point.

facebook

Semis

One group that needs to get its act together are the semis. They have acted particular bad. When diving into some of these Apple suppliers, they are getting crushed. You would never know that Apple was getting ready to ship up to 75 million iPhones between now and year-end.

Skyworks

Skyworks is one such stock basically at its lowest point since January of 2017. I always feared the stock would refill that giant gap created in January of 2017. It looks like that is now what it is doing.  If Apple is supposed to sell the most iPhone since the iPhone 6, I don’t see how Skyworks will not be a significant beneficiary of that.

skyworks

Qorvo

Qorvo is another stock that is struggling and looks like it is going lower too. Perhaps to $65.

qrovo

Biotech

What happened to the biotech’s and that “massive” break out? This group is sucking wind lately.

Celgene

Over the weekend, I said Celgene could fall to $86.5, and it got there awful fast. But the good thing is that held.

celg

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Gilead

Gilead is hanging on for its dear life at $72.50. I don’t like the way this one looks one bit.

gild

Netflix

Netflix is on the rebound.  The stock is acting well. I will say it again, a rise above $357, likely send shares to around $400. It didn’t happen the last time, but maybe it happens this time? It would be nice.

netflix

China

Things could be about to get a lot better or worse for Chinese stocks. As the Shanghai composite comes down to technical support, is it a double bottom or will it fall through support? I guess we find out soon enough.

-Mike

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Michael Kramer is the Founder of Mott Capital and the creator of Reading the Markets.

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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.

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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.