Apple $AAPL, the world’s largest company, has just smashed through its six-month consolidation range with authority, breaking out to new all-time highs.
The stock is kicking off a fresh up-leg, and I think this puts it firmly on track for a jaw-dropping $5 trillion market cap.
Think about that—It only needs to climb a little under 40% to get there.
And let’s be real, this stock can do that with ease. It rallied over 40% in a little over two months from the April lows to July highs earlier this year.
Apple is a juggernaut and appears to be reclaiming its leadership role in the tech sector.
The largest and most important stock in the world breaking out to new all-time highs could set the stage for the rest of the mega-cap complex to follow.
Just take a look at Meta Platforms, which is showing similar strength with new record highs today. Amazon isn’t far off from the same. And how about that high and tight flag in Tesla?
The best players are stepping up and scoring big, which is exactly what you should expect in healthy bull markets.
And something tells me we’re about to see a lot more big-cap names breaking out into the year-end. Investors chased these stocks higher in December of last year. I think we’re set up for the same situation today.
If that happens, I’ll be looking for more long opportunities in these stocks, and I think you should too.
Steve and Sean put on a fresh trade in AAPL this afternoon on the Flow Show. They think $5 trillion is in the cards, too. You can watch the video here.
