Apple Made A Strong Recovery from COVID Lows and Qualcomm Raising Investor Interest with Support Line
It is no secret that Apple is one of the most popular stocks on the market, especially when looking back at this year. This mega-cap blue chip stock has made over a full recovery from the COVID-19 market crash from march of this year. Moreover, moves have been big recently, with rumors of an apple car dubbed “Project Titan”, Christmas shopping, and some powerful new laptops with M1 chips, Apple has had a jolly holiday season.
Apple’s stock has been creeping back up to its 52-week high from this August, and as Apple closes in on its resistance at $134.18 on the annual chart, many investors are considering what their next move should be.
Qualcomm’s electronics chips are used by some of the largest companies in the world, from Apple in California to Huawei in China, Qualcomm is helping lead the race into the future for the electronics market. In fact, with 2021 expected to be an explosive year for 5G, many eyes are on Qualcomm.
Baird analyst Tristan Gerra has rated Qualcomm at Outperform with a street high price target of $200. Currently, Qualcomm’s stock is finding support at the 21-day exponential moving average and just above its 10-week line, a signal that some investors see as a potential entry point.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.