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Thursday, Apple (AAPL) received an upgrade in its Relative Strength (RS) rating, from 67 to 74. The Cuppertino, Calif.-Based tech giant plans to increase the iPhone production order to 90 million. ‘devices for 2021, compared to 75 million in 2020.
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When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
This unique rating identifies technical performance by showing how the movement of a stock’s price over the past 52 weeks compares to that of other stocks in our database.
Decades of market research reveal that the stocks that make the biggest gains tend to have an RS rating of 80 or better when they launch their biggest climbs. See if Apple can continue to bounce back and hit that benchmark.
Looking for the best stocks to buy and watch? Start here
Apple stock is in a buy range after breaking above the 145.19 buy point on a consolidation. The appropriate buy range is up to 5% above the initial entry. Once a stock crosses above that range, it’s best to wait until it creates another buying opportunity. Find out “These are the 5 best stocks to buy and watch now”. Also take a look at “Stocks to buy and watch: best IPOs, large and small caps, growth stocks.”
In terms of fundamental health, Apple has posted rising EPS growth over the past two quarters. Revenue growth also increased over the same period. The company is expected to release its next quarterly figures around July 30.
Apple stock ranks first among its peers in the Telecom-Consumer Products industry group.
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