Chart of the Day: Apple's Looking Sweeter

AAPL's Outperformance

Over the past month, shares of Apple (AAPL) have outpaced the broader market, gaining nearly 10% compared to the S&P 500's 5% advance. This outperformance has been driven by a number of factors, including strong earnings, positive analyst sentiment, and a bullish technical outlook.

Apple's recent earnings report showed that the company continues to execute well on its core businesses, with strong growth in iPhone, Mac, and services revenue. Analysts have also been upbeat on the stock, with many raising their price targets in recent weeks. Technically, AAPL is in a strong uptrend, with a series of higher highs and higher lows.

Valuation and Outlook

Despite its recent outperformance, Apple's valuation remains attractive. The stock currently trades at a forward price-to-earnings ratio of 22, which is below its historical average. This suggests that there may be further upside potential in the stock.

Looking ahead, Apple is well-positioned to continue its growth trajectory. The company has a number of new products and services in the pipeline, including the upcoming iPhone 13 and Apple Watch Series 7. Additionally, the company's services business is expected to continue to grow rapidly, driven by increasing demand for streaming content, cloud storage, and other digital services.

Conclusion

Overall, Apple's recent outperformance is well-supported by strong fundamentals, positive analyst sentiment, and a bullish technical outlook. The stock remains attractively valued and is well-positioned for continued growth in the future. Investors may want to consider adding AAPL to their portfolios.