Welcome to Extreme Investor Network, where we provide you with the latest insights and analysis on the ever-changing world of investing. Today, we’re talking about a potential shift in momentum between two tech giants: Apple and Nvidia.
According to chart analyst Jonathan Krinsky at BTIG, Apple is positioned to potentially outperform Nvidia in the near future. Despite trailing Nvidia’s performance in recent years, Apple is showing signs of strength and could be primed for a breakout. In fact, on Tuesday, Apple hit a record high of $206.03, marking its first all-time high since last December.
While Nvidia has seen impressive gains, with a 144% surge so far in 2024, Apple is not far behind. Over the past five years, Nvidia has outperformed Apple significantly, with a total return of 3,262% compared to Apple’s 341%. However, Krinsky believes that Apple’s recent artificial intelligence plans could propel the stock to new heights.
In his analysis, Krinsky points to a “basing” pattern in Apple’s stock price, suggesting that the company is poised to outperform on a relative basis compared to other tech stocks. This shift could be a game-changer for investors looking to capitalize on the tech sector’s continued growth.
At Extreme Investor Network, we understand the importance of staying ahead of market trends and identifying opportunities for growth. Keep an eye on Apple and Nvidia as the tech landscape continues to evolve, and be sure to check back for more expert analysis and insights on investing in today’s dynamic market.