Apple was one of the “Magnificent Seven” which posted fresh all-time highs overnight as investors continued to buy the strength. With rates set to fall this week in the US, we could see further PE expansion pushing the stock higher as people struggle to find value in today’s rich market. For example, investors/traders pushed Bitcoin up more than 3% overnight to fresh highs, illustrating the weight of money looking for a home.
- We see no reason to fade the current strength in Apple – MM is long Apple Inc (AAPL US) in its International Companies Portfolio.
MM is long and bullish Apple
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