On Thursday, Apple (AAPL) received an upgrade to its Relative Strength (RS) Rating, from 67 to 74. The Cuppertino, Calif.-based tech giant plans to boost iPhone production order to 90 million devices for 2021, up from 75 million level in 2020.
XWhen looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
This unique rating identifies technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating as they launch their largest climbs. See if Apple can continue to rebound and hit that benchmark.
Looking For The Best Stocks To Buy And Watch? Start Here
Apple stock is within a buying range after breaking past a 145.19 buy point in a consolidation. The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity. Check out "These Are The 5 Best Stocks To Buy And Watch Now." Also, take a look at "Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks."
In terms of fundamental health, Apple has posted rising EPS growth over the last two quarters. Revenue growth has also increased over the same time frame. The company is expected to release its next quarterly numbers on or around Jul. 30.
Apple stock holds the No. 1 rank among its peers in the Telecom-Consumer Products industry group.
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