Schaeffer's Top Stock Picks for '25

Apple Stock Could Notch New Record High

This could be investors' chance to buy AAPL on the dip

Digital Content Manager
Feb 27, 2024 at 2:47 PM
facebook X logo linkedin


Apple Inc (NASDAQ:AAPL) stock sports a 21.7% year-over-year lead, but is already down 6.5% in 2024. The shares are today pacing for their third-straight daily drop, last seen down 0.2% at $180.76, and have recently slipped back below familiar pressure at the $166 level. AAPL hit a Dec. 14, record high of $199.62, and thanks to a historically bullish trendline may soon notch a fresh peak.

Apple stock is within one standard deviation of its 260-day moving average. Per Schaeffer's Senior Quantitative Analyst Rocky White's data, the equity saw three similar signals in the past three years, defined for this study as having traded north of this trendline 80% of the time in the last two months, and in eight of the last 10 trading days. 

AAPL 260 Day

Just one month later after 67% of those instances, the security was higher, averaging an 11.8% gain. A comparable move from its current perch would place AAPL at a brand-new record high of $202.08.
  
Now looks like the right time to speculate with options, too, which are affordably priced. Apple stock's Schaeffer's Volatility Index (SVI) of 19% sits higher than 19% of readings from the last 12 months -- a relatively low reading.
 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?