Apple Inc
Busiest Rebalancing In Four Years To Boost Apple
With $250 billion in stock adjustments underway, the iPhone manufacturer could emerge as one of the biggest beneficiaries.
A notable shift comes from Berkshire Hathaway
Apple To Take The Lead Over Microsoft
Apple's market capitalization of $3.48 trillion now surpasses Microsoft Corp's
As funds rebalance, a hefty $35 billion worth of Apple shares will need to be bought, which could provide significant support to its stock price. This reshuffling may further amplify the bullish momentum Apple has enjoyed year-to-date, with the stock already up over 24%.
Bullish Signals All-Around
Apple's stock chart is radiating strength, signaling continued bullish action.
With the stock trading above key moving averages - five, 20 and 50 days - the technical setup strongly favors buyers. The share price of $231.12 sits comfortably above its eight-day SMA of $221.71 and 20-day SMA of $223.84, offering a consistent bullish signal across multiple indicators.
The Moving Average Convergence Divergence (MACD) suggests more buying pressure with a positive reading, while the Relative Strength Index (RSI) of 63.00 (and rising) indicates that although Apple is nearing overbought territory, the bullish momentum remains intact.
With the rebalancing aligning with positive technicals, investors are betting that Apple could soar further.