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Is Apple At One Trillion The Peak For FAANG?

Aug. 06, 2018 1:40 PM ETMETA, AMZN, AAPL, NFLX, GOOG, GOOGL1 Comment


  • Last week, it looked like the FAANG stocks were dead.
  • This week Apple hit one trillion in market cap!
  • What is next for the tech stocks and who will hit one trillion next?

As a professional money manager, I was once again chest-deep in my waders as I fished the many tributaries of the market this past week. It is usually about a ten-hour process for me each trading day.

My trading day begins with a one-hour prep for my national Best Stocks Now Radio Show, and then the live one hour show itself.

I feel strongly that I have some valuable insights to add with my market observations each week, so here we go once again…

Monday 7/30/18=DJIA (-144) NASDAQ=(-107)

The week started off where it left off on Friday, weakness in the Dow over the ongoing trade war, and weakness in the NASDAQ due to worries over growth. Netflix (NFLX) and Facebook (FB) really put a chill in the FAANG stocks after very weak EPS reports.

Amazon (AMZN) and Google (GOOG) (GOOGL), on the other hand, had blowout earnings. Now it was up to Apple (AAPL) on Wednesday to break the tie.

Non-FAANG stocks Intel (INTC) and Twitter (TWTR) also disappointed on the previous Friday. The NASDAQ is still one of the strongest indexes in the world, however.

The market also began the week worried about Central Bank meetings during the course of the week. The U.S., Japan, the U.K., Brazil, Mexico, and India would all weigh in during the week on their monetary policy.

On the U.S. economic front, U.S. Treasury Secretary, Mnuchin stated that he saw 3% sustained growth going forward. This would be good news for the nine-year plus BULL MARKET.

Iran's rial hit a historic low of 100,000 rials to the dollar over the weekend. The currency has lost half of its value in four months as the economic crisis in Iran worsens. I guess tough sanctions do work after all. The sanctions are only going to get tougher…

This article was written by

Bill Gunderson profile picture
Best Stocks Now! is a unique mix of valuation and momentum

Bill Gunderson (@billgunderson) is the CEO and Chief Market Strategist at Gunderson Capital Management in Mt. Pleasant, South Carolina. He is also a professional money manager, former research analyst, author of Best Stocks Now! 2011, and developer of the Best Stocks Now! App (www.BestStocksNowApp.com). Bill offers a free 4-week subscription to his weekly Best Stocks Now! Newsletter to all Seeking Alpha readers at www.gundersoncapital.com. Bill hosts a daily stock market radio show that is syndicated nationwide on the Salem Broadcast Network. He has made numerous appearances on the Fox Business Channel, CNBC, and Bloomberg Radio. Bill's articles have been published by Barron's, Forbes, TheStreet.com and other financial publications. He can be reached at bill@gundersoncapital.com or by calling (855) 611-BEST.

Analyst’s Disclosure: I am/we are long TCEHY, AAPL, ZTS, ELY, TTWO, AMZN. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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