Tech Giant Apple, Tesla See 8 Consecutive Gains! Will It Continues?
THE US stock market opened higher onThursday, the three major indexes closed higher, the Dow rose 1.02%, the NASDAQ rose 1.93%, the S&P 500 rose 1.43%.
$NVIDIA Corp(NVDA)$ up nearly 10%, to "single-hand", led the semiconductor and technology stocks rose, $Apple(AAPL)$ and $Tesla Motors(TSLA)$ welcomed their eight consecutive gains!
Based on market news, Musk officially opened Tesla's first manufacturing plant in Europe on Tuesday (March 22), which is seen as a milestone in Musk's push into the European automotive heartland.
Currently, Wall Street expects Tesla to deliver about 322,000 vehicles, up from 306,000 in the fourth quarter of 2022. The figures are expected to be officially released around April 2.
Musk also showed off his impressive dance moves at the event~
Could Tesla and Apple's back-to-back gains signal renewed investor optimism about tech industries growth prospects?
Looking at the numbers, tech funds have seen inflows worth $2.55 billion since March 16 and outflows worth $6.86 billion in the first two months of the year, according to Refinitiv.
Analysts say the tech sector still has strong fundamentals and high cash levels.
Emily Roland, co-chief investment strategist at John Hancock Investments, said the gains in these stocks are a sign that the tech sector's resilient fundamentals are starting to emerge amid concerns about macroeconomic factors.
Amanda Agati, chief investment officer at PNC Asset Management Group, said: "The fundamentals of tech haven't changed, so we see this rebound as cautious investors re-entering the market after the Fed's rate hike. "Looking ahead, the first-quarter earnings season is just a few weeks away, and one of the sectors expected to outperform will be technology, which has been a major contributor to earnings during the pandemic."
Finally, what do you think?
- Have you made any money with this rally in Apple and Tesla?
- What do you think of the rally? Will it continues?
- What are your thoughts on tech stocks? Where do you see tech stocks going?
- ......
Small talk for everyone prepared 888 tiger coins, please "Buffett" to speak!
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Examining Daily Charts might give clues if $Apple(AAPL)$ and $Tesla Motors(TSLA)$ rally would continue [see pics below]. Prices have risen rapidly and now near resistance levels (red coloured zone based on past price actions). TSLA prices have already consolidate for past three sessions. Other indications, such as distance from MA lines and RSI values gave further datapoints that current rally for both might have run its course. From Technical perspective, more rationale thesis is price will go lower or consolidate here. However, such analysis are not 100%, and sometimes price would continue to rise - stays irrational for much longer.
Both $Apple(AAPL)$ and $Tesla Motors(TSLA)$ are in my long term portfolio and I looked to accumulate when opportunity presented itself. Prices has run up since second dip in price around 14-15 Mar, with Apple gaining 16% and TSLA, a massive 33.9%. Added small positions but of course, did not catch the bottom, sitting on gains of ~9 to 16% respectively. Such rapid price rise is unsustainable based on past history, and likely see retracements of price or consolidating near current levels. Due to planned FED rate hikes until end of this year at least, with more expensive borrowings, Tech sector growth rate including APPL and TSLA might slow or be curtailed
I think rally will slow down 🐌 first before continuing if there's any [Happy].
I still believed it's a bear 🐻 market.
Tech stocks will only up.
Not all Tech stocks are created equal! When inflation is at all time high and the Feds are increasing interest rates, there is a rotation from tech stocks to value stocks. It is even more critical to select Tech stocks that are less impervious to high inflation. Quality Tech stocks like Apple and Tesla are able to increase their prices because they have pricing power and lower costs. More importantly they are profitable.
It is the non profitable ones like SEA and Grab that will feel the impact of rising interest rates and high inflation most.
So choose wisely in volatile times like now to ride the tidal wave of prosperity and success in the long run. 🚀🚀🚀🌙🌙🌙💰💰💰
@TigerStars