As tech rally continues, Apple extends rebound

Dow Jones component Apple is higher in premarket trade, up 2.25%, after Dow Jones futures fell more than 125 points before erasing losses early Thursday.

stock chartScott Lehtonen for Investor’s Business Daily:

Microsoft was up 0.4%. Tesla moved up 5% early Thursday, adding to Wednesday’s 10.9% surge. Apple, Microsoft and Tesla are IBD Leaderboard stocks.

Amid the coronavirus stock market rally, the tech-heavy Nasdaq is up 24.2% for the year through Wednesday’s close. Meanwhile, the S&P 500 is up 5.2%, while the Dow is down 2.1% year to date, through the Sept. 9 close…

[Apple] looks to add to Wednesday’s 4% advance. Shares are rebounding after falling as much as 19.6% from its all-time highs.

Apple stock is about 63% above a cup-with-handle’s 72.15 buy point. The blue-chip giant is the No. 1-performing Dow Jones stock in 2020, with a 59.8% advance through Wednesday’s close.

MacDailyNews Take: May Apple’s rebound extend to infinity.

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