“If Tim Cook ever tires of his job as Apple CEO, he could maybe start a macro hedge fund,” Mercenary Trader writes for Seeking Alpha. “The market timing of Apple Inc. (AAPL) is exquisite, re, turning itself into a widows-and-orphans play (via 7 for 1 stock split and fat dividend hike) just as investors show panicky demand for safety, quality, and cash flow, with ‘boring the new sexy’ in a very big way.”
“The AAPL surge is not reason to be optimistic on the tech side – in fact we’d say the opposite, it is more evidence of a late-cycle rotation into ‘anything that isn’t melting down,'” Mercenary Trader writes. “AAPL also remains a double-digit percentage of Nasdaq QQQ Trust (QQQ), thus helping explain the wicked tail in QQQ yesterday.”
Full article here.