“One would think that with all the negative commentary floating around the iPhone X, shares of Apple Inc. would be struggling,” Michael Kramer, financial writer and portfolio manager, writes for Investopedia. “But that has hardly been the case with the stock trading higher by about 12% over the past three months.”
“In fact, shares of Apple have been performing so well that the stock is about to have a significant technical breakout,” Kramer writes, “which could send shares of the stock as high as the psychologically important $200 mark, a rise of about 14%.”
“Options traders are betting on a significant rise in shares with bets that take the stock above $200 by expiration on June 15,” Kramer writes. “The market is speaking loud, and for the most part, it seems to suggest it just does not believe all the conjecture about weak iPhone demand.”
Read more in the full article here.
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