I know it might not seem like it given the palatable angst many investors are feeling this year, but quietly and without a lot of fanfare, stocks last week surged to new all-time highs. One stock also recently pulled back to what I consider remarkably attractive levels – tech giant Apple Inc. (AAPL), notes Jim Woods, editor of Forecasts & Strategies.
Of the current tailwinds blowing markets higher, I think the biggest and longest lasting is the chasing in the AI/tech segment. It has eliminated a lot of nervousness over whether the momentum had dropped off here.
(Editor’s Note: Jim will be speaking at the 2026 MoneyShow/TradersEXPO Orlando, which runs Oct. 5-7. Click HERE to register.)
Apple Inc. (AAPL)
Momentum here has not ceased, and I don’t think it will anytime soon, at least in a long-term sense. The fact is that earnings growth remains with AI and tech, and if there is one truism on Wall Street, it’s that investors love to buy earnings growth.
As you likely know, Apple recently reported yet another record earnings quarter. However, there are some legitimate concerns out there over future growth and rising memory costs, and that prompted traders to sell shares post-earnings. This sell-the-news reaction to Apple’s results was actually the development I was looking for. It provided us with the opportunity to trade AAPL at what I think will prove to be a very attractive entry point.
Recommended Action: Buy AAPL.
